Daily Market Highlights (08.03.2023)

Seven equities lift the MSE Equity Price Index higher


The MSE Equity Price Index gained 0.16% to 3,633.339 points as the gains in seven equities outweighed the declines in Tigné Mall, MIA and Farsons. Meanwhile Lombard, Mapfre and VBL remained unchanged as total trading activity reached a 3-week high of €0.34 million. Download today’s Equity Market Summary.

Bank of Valletta plc was today’s most actively traded equity as it climbed 1.1% to the €0.93 level across thirteen deals totalling 109,100 shares.

Also in the local banking sector, HSBC Bank Malta plc rose 2% to the €1.04 level after recovering from a low of €1.00 (-2%) across nine trades totalling 38,169 shares.

APS Bank plc extended yesterday’s uplift as it gained a further 0.8% to the €0.62 level as 35,706 shares changed hands. APS will be publishing their 2022 annual financial results tomorrow.

Notable trading activity took place in the shares of Malta Properties Company plc which advanced by 2.2% to the €0.46 level across five deals totalling 190,403 shares. MPC is expected to publish the 2022 annual financial results on Tuesday 14 March 2023. The Directors will also consider the declaration of a dividend.

International Hotel Investments plc moved 1.7% higher to the €0.59 level after recovering from an intraday low of €0.57 (-1.7%) across volumes totalling 13,770 shares.

BMIT Technologies plc advanced by 0.9% to the €0.45 level on three trades totalling 13,500 shares. BMIT is expected to publish the 2022 annual financial statements today.

Within the same sector, Harvest Technology plc moved up by 0.7% to the €1.43 level after recovering from a low of €1.20 level (-15.5%) as 250 shares exchanged hands.

VBL plc held the €0.23 level as 13,000 shares exchanged hands.

A single of 500 shares left the share price of Mapfre Middlesea plc at the €1.55 level.

Lombard Bank plc maintained the €1.00 level on one deal of 1,700 shares.

Malta International Airport plc shed 1.7% to the €5.70 level across five trades totalling 12,731 shares.

Simonds Farsons Cisk plc eased by 0.7% to the €7.15 level on lacklustre volumes.

Tigné Mall plc plunged 14.6% to a six-month low of €0.70 on muted activity.

The RF MGS Index declined by 0.42% to 864.535 points and for the first time this year, fell below the reading as at the end of 2022. Following yesterday’s comments by the Chairman of the Federal Reserve Jerome Powell who indicated that the Fed would continue to raise its interest rates, the 2-year Treasury yield surged to above 5% for the first time since 2007. Today, employment data continued to highlight the resilience of the US labour market as employment growth exceeded expectations, thus increasing the possibility that policymakers would be comfortable in tightening the monetary policy further.



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.