Daily Market Highlights (08.04.2022)

MSE Equity Price Index posts 6-week negative streak  


The MSE Equity Price Index moved lower for the sixth consecutive week as today it retracted by a further 0.8% to close at 3,604.659 points. The declines in four companies outweighed the gains in BOV and Hili Properties. Meanwhile, seven other equities closed unchanged as overall trading activity in equities eased slightly to €0.14 million. Download today’s Equity Market Summary.

FIMBank plc plummeted by 11.3% to the USD0.22 level across 100,500 shares.

Also in the banking segment, Lombard Bank Malta plc eased by 1.6% to the €1.85 level on 1,900 shares.

Malita Investments plc dropped by 3.8% to the €0.76 level across 10,000 shares.

AX Real Estate plc lost 6% to the €0.545 level on light volumes.

In contrast, Hili Properties plc added 0.8% to the €0.242 level across 37,700 shares.

The other positive performing equity today was Bank of Valletta plc with a gain of 1.3% back to the €0.79 level after recovering from an intra-day low of €0.76 (-2.6%). A total of 82,886 shares changed hands.

Meanwhile, Malta International Airport plc stayed at the €5.80 level after opening at a low of €5.75 (-0.9%). A total of 4,080 shares traded.

Also among the large companies by market value, HSBC Bank Malta plc (1,500 shares) and International Hotel Investments plc (500 shares) traded flat at €0.80 and €0.57 respectively.

The ordinary shares of RS2 Software plc closed unchanged at the €1.68 level across 2,000 shares. In a press release issued yesterday, RS2 announced the launch of its own acquiring business in Germany. Commenting on this landmark achievement, RS2 CFO/COO Mr Jens Mahlke noted that the company is now very well positioned to provide tailor-made solutions to businesses including a wide range of issuing services.

A single deal of 2,500 shares left the share price of BMIT Technologies plc at the €0.50 level. Shareholders as at close of trading on 20 April will be entitled to receive a final net dividend of €0.02497 per share.

In the insurance segment, LifeStar Insurance plc (717 shares) and Mapfre Middlesea plc (1,678 shares) ended the day unchanged at €0.45 and €2.14 respectively.

Today, Harvest Technology plc published its results for the 2021 financial year. Revenues dropped by 18.1% to €15.7 million largely reflecting the lower amount of turnover generated by the company’s retail and IT solutions segments. As a result, the company also reported a contraction in net profit to €2.69 million compared to €3.04 million in 2020. The Directors are recommending the payment of a final net dividend of €0.02 per share. Coupled with the interim dividends paid throughout 2021, the total amount of dividend for the year amounts to €0.06 per share. The final dividend will be paid on or around 29 April to all shareholders as at close of trading on 20 April.

The RF MGS Index continued to trend lower as it slipped by a further 0.25% to 1,011.425 points – the lowest level since March 2013. Yesterday, the ECB published the minutes of the most recent monetary policy meeting. These showed that ECB officials were split on how to address the increase in inflation with several officials preferring for an earlier interest rate hike than in Q4 2022. On the other hand, some members argued that it would be more prudent for the central bank to adopt a ‘‘wait-and-see’’ approach amid the prevailing economic uncertainties brought about by the war in Ukraine.


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.