Daily Market Highlights (06.11.2023)

Almost 17% of issued share capital of Tigné Mall changes hands


The MSE Equity Price Index moved 0.41% higher to a three-week high of 3,626.407 points as the gains in Tigné Mall, BOV, APS and Mapfre Middlesea outweighed the declines in MIA, PG, MPC and Trident. Meanwhile, two other equities closed unchanged. Today’s trading activity in local equities reached at a multi-year high of €7.9 million, driven by the activity across the shares of Tigné Mall.  Download today’s Equity Market Summary.

Tigné Mall plc surged by 9.3% to the €0.82 level across large volumes of over 9.4 million shares, equivalent to nearly 17% of the company’s issued share capital and having a market value of €7.74 million.

Bank of Valletta plc moved 0.8% higher to a one-month high of €1.26 across twelve trades totalling 56,292 shares. Today, BOV announced that the regulatory approval in relation to the proposed net interim dividend of €0.03 per share was obtained. The dividend will be paid on Wednesday 6 December 2023 to shareholders as at close of trading on Friday 17 November 2023.

BOV’s insurance associate – Mapfre Middlesea plc – climbed 8.3% higher to a three-week high of €1.30 across three trades totalling 1,080 shares.

APS Bank plc advanced by 1.8% to a one-week high of €0.58 after recovering from an intraday low of €0.565 (-0.9%) across nine deals totalling 100,807 shares. Today, APS announced the allocation policy with respect to the recent offer of up to €50 million 5.80% unsecured subordinated bonds 2028-33. APS explained that apart from the €15 million that were pre-allocated through placement agreements and awarded in full, the intermediaries offer attracted applications totalling a further €50.7 million. Applications lodged by preferred applicants during the intermediaries offer amounted to €27.1 million. These were given priority whilst ensuring that new investors are not crowded out of the investment process. As a result, €23 million were allocated to preferred applicants. Meanwhile, applications from non-preferred investors during the intermediaries offer amounted to €23.6 million, of which €12 million were allocated.

PG plc moved 0.5% lower to a four-month low of €1.90 as 3,854 shares changed hands. Today, PG announced that its Board of Directors is scheduled to meet on Wednesday 29 November 2023 to consider the distribution of an interim dividend.

Malta International Airport plc shed 0.9% to the €5.50 level on a single deal of 360 shares.

A single trade of 2,000 shares pulled the share price of Trident Estates plc 0.8% lower to the €1.32 level.

Malta Properties Company plc eased by 0.5% to a four-month low of €0.38, albeit on trivial volumes.

Meanwhile, Lombard Bank Malta plc held the €0.755 level on one trade of 4,863 shares. Last Friday, Lombard announced that the excess shares offer relating to the Rights Issue residual balance of 12,430,744 shares at an offer price of €0.75 was oversubscribed.

Plaza Centres plc closed unchanged at the €0.65 level as 5,000 shares changed hands.

The RF MGS Index moved 0.25% higher to a seven-week high of 862.641 points. Data published today showed that business activity in the Euro Area during October continued to weaken, driven by lower demand. In particular, the services sector fell for the third consecutive month with the largest shrinkage in over two years.


This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.