Daily Market Highlights (07.03.2023)

AX Real Estate falls to an all-time low


The MSE Equity Price Index remained virtually unchanged at 3,627.710 points as the declines in five equities were largely offset by the gains of APS, MIA, and Mapfre. Two other equities remained unchanged as total trading activity improved to €0.25 million compared to €0.13 million yesterday. Download today’s Equity Market Summary.

AX Real Estate plc plunged 9.1% to an all-time low of €0.482 across two deals totalling 60,000 shares.

Today’s most actively traded equity – PG plc – shed 1% to the €2.02 level on two trades totalling 50,000 shares having a market value of €0.1 million.

Bank of Valletta plc closed 1.1% lower at the €0.92 level after partially recovering from an intraday low of €0.90 (-3.2%) across six trades totalling 51,700 shares.

Also in the local banking sector, HSBC Bank Malta plc fell by 1% to the €1.02 after partially recovering from an intraday low of €1.00 (-2.9%) across five trades totalling 15,600 shares.

Loqus Holdings plc shed 6.3% to a six-month low of €0.15 on trivial volumes.

In contrast, Malta International Airport plc climbed 1.8% to the €5.80 level across five deals totalling 4,000 shares.

APS Bank plc advanced by 0.8% to the €0.615 level across five trades totalling 17,629 shares. APS will be publishing their 2022 annual financial results on Thursday 9 March.

Mapfre Middlesea plc climbed 3.3% higher to the €1.55 level across three trades totalling 3,219 shares.

One trade of 4,730 shares left the share price of MIDI plc at the €0.28 level.

GO plc closed unchanged at the €3.10 level after failing to hold to an intraday high of €3.12 (+0.6%) and a low of €3.00 (-3.2%). A total of 4,300 shares changed hands.

GO’s data centre and IT services subsidiary – BMIT Technologies plc – is expected to publish the 2022 annual financial results tomorrow.

The RF MGS Index declined by 0.18% to 868.220 points. Today, the Chairman of the Federal Reserve Jerome Powell cautioned that interest rates may climb higher than what policymakers anticipated in previous monetary policy meetings. Mr Powell stated that the latest data indicates that faster tightening is appropriate and the Federal Reserve is prepare to increase the pace of rate hikes. Nonetheless, the Fed Chairman stated that rate decisions will be assessed at every meeting, taking into consideration the latest inflationary and economic data available at the time.



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.