Daily Market Highlights (08.02.2023)

HSBC reaches an 11-month high


The MSE Equity Price Index remained virtually unchanged at 3,582.240 points as the gains of HSBC and GO were offset by the declines of BMIT and Hili Properties. Meanwhile, three other equities traded unchanged as total trading activity improved to a three-week high of €0.34 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc was the most actively traded equity as it increased by 1.1% to an 11-month high of €0.91 across eleven trades totalling 101,700 shares. HSBC’s Board of Directors is scheduled to meet on Tuesday 21 February 2023 to consider and approve the 2022 annual financial statements. The Directors will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting which will be held on Thursday 20 April 2023.

Also amongst the large companies by market value, GO plc advanced by 2.2% to the €2.78 level across two deals totalling 12,750 shares.

In contrast, GO’s data centre and IT services subsidiary – BMIT Technologies plc – shed 2.2% to the €0.44 level across nine deals totalling 106,002 shares.

Hili Properties plc plummeted 8.8% to the €0.22 level across three trades totalling 30,000 shares.

Within the same segment, Malita Investments plc closed unchanged at the €0.60 level after failing to hold to an intraday high of €0.62 (+3.3%) across ten deals totalling 136,900 shares.

Bank of Valletta plc closed unchanged at the 0.92 level as 77,100 shares changed hands.

APS Bank plc traded flat at the €0.615 level across three deals totalling 16,568 shares.

The RF MGS Index fell for a third consecutive session (-0.34% to 879.416 points) as eurozone sovereign bond yields maintained their upward trend with the German 10-year bund yield reaching close to the 2.4% level. Yesterday, Federal Reserve Chairman Jerome Powell warned that the US central bank may need to raise rates to a level exceeding market expectations in the context of the resilience of the labour market which could present additional challenges to the pursuit of taming inflation further. Nonetheless, Mr Powell recognised that the US is now experiencing a disinflationary process.

Today, Qawra Palace plc announced the basis of acceptance in relation to the offer of €25 million 5.25% secured bonds redeemable in 2033. Qawra Palace explained that as at 11 January 2023, it received applications for just over €31.5 million. As a result of the over-subscription, the offer was closed ahead of schedule. All applications by Authorised Financial Intermediaries through the Intermediaries’ Offer were scaled down proportionately by 20.754057% (rounded to the nearest multiple of 100). The new bonds were admitted to listing on the Official List of the Malta Stock Exchange on 8 February 2023 and trading is expected to commence on 9 February 2023. Interest on the bonds started to accrue as from 27 January 2023 and thus, the first interest payment falling due on 27 February 2024 will be covering a longer period than one year, specifically from 27 January 2023 up to and including 26 February 2024.


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.