Daily Market Highlights (06.12.2021)

MSE Equity Price Index drops to 1-year low


The MSE Equity Price Index opened the week in negative territory as it slid by 0.65% to a 1-year low of 3,749.651 points. MIA, IHI, GO, Malita and Farsons all ended lower while only HSBC closed higher. Meanwhile, three other companies ended the day unchanged as the total value of shares traded was the highest in over a week at €0.16 million. Download today’s Equity Market Summary.

Malta International Airport plc lost 2.6% to a 1-year low of €5.70 albeit most trades took place at last Friday’s closing price of €5.85. A total of 1,208 shares changed hands across four deals.

Also among the large companies by market cap, International Hotel Investments plc declined by 2.6% to the lowest level in 8 months at €0.565 across 3,258 shares.

Today’s worst performing equity – Malita Investments plc – dropped by 3.1% to the lowest level since April 2020 at the €0.78 level on four deals totalling 12,000 shares.

GO plc eased by 1.2% to the €3.34 level after partially recovering from an intraday low of €3.32 (-1.8%) as 5,000 shares changed hands.

Simonds Farsons Cisk plc moved 1.2% lower to the €8.40 level on a single trade of 480 shares.

Today’s only positively performing equity, HSBC Bank Malta plc advanced by 1.2% to the €0.86 level across six deals totalling 21,622 shares.

Also in the retail banking sector, Bank of Valletta plc remained at the €0.85 level after failing to hold to an intraday high of €0.865 (+1.8%) on activity totalling 79,458 shares representing over 43% of today’s trading value. Last Friday, BOV announced that its Board of Directors is scheduled to meet on Thursday 9 December 2021 to consider the payment of an interim dividend. BOV last paid a dividend in May 2018.

FIMBank plc remained at its all-time low of €0.28 on two trades totalling 88,108 shares.

Elsewhere, MaltaPost plc closed unchanged at the €1.19 level after recovering from an intraday low of €1.16 (-2.5%) on three deals totalling 5,000 shares.

The RF MGS Index extended its recent positive performance with an additional 0.21% increase to the highest level in nearly three months at 1,093.147 points. Eurozone yields continued to decline following weaker-than-expected manufacturing orders in Germany and retail sales in Italy during October. Elsewhere, last Friday OPEC+ agreed to keep increasing monthly crude oil production, despite a recent drop in oil prices amid fears of lower demand as the Omicron variant continues to create uncertainty within international markets.

Today, the European Banking Authority (“EBA”) published its annual risk assessment of the European banking system. The report highlights the improved capital and liquidity levels as banks reported strong results during the first half of the year. Overall asset quality also improved but the EBA expressed concern for loan exposures to sectors most affected by the pandemic.

Also today, GAP Group plc announced that it received regulatory approval for the €21 million 3.9% Secured bond issue maturing between 2024 and 2026. The prospectus will be available as from Thursday 9 December 2021.


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.