Daily Market Highlights (08.05.2023)

HSBC surges to a three-year high


The MSE Equity Price Index snapped a 5-day streak as it decreased by 0.74% to 3,682.972 largely reflecting the sharp decline in BOV. Malta Properties and VBL also trended lower whilst HSBC, Farsons, and Mapfre Middlesea trended higher. Meanwhile, seven other equities closed unchanged as total trading activity amounted to a healthy €0.48 million. Download today’s Equity Market Summary.

 HSBC Bank Malta plc was today’s best performing equity as it surged by 5.8% to reach a three-year high of €1.10, across nine deals totalling 74,472 shares.

Furthermore, Simonds Farsons Cisk plc gained 0.7% to reach the €7.00 level on volumes of 1,500 shares across three trades.

Mapfre Middlesea plc rebounded by 0.6% to reach the €1.66 level over three deals totalling 1,287 shares.

On the other hand, Bank of Valletta plc reversed some of the recent gains as the equity slid 7.4% lower back to the €1.07 level on volumes of 177,138 shares over 24 trades.

Malta Properties Company plc shed 5.6% to the €0.402 level across three deals totalling 925 shares.

Also, in the property sector, the equity of VBL plc declined by 0.9% back to the €0.218 level after only partially recovering from an intra-day low of €0.21 across a total of 27,900 shares.

Meanwhile, Malta International Airport plc maintained the €5.55 level as it failed to hold on to an intraday high of €5.65 (+1.8%). A total of 25,842 shares changed hands across eight trades.

Similarly, MIDI plc and AX Real Estate plc held on to their previous closing levels of €0.292 across 75,000 shares and €0.45 on just 5,000 shares, respectively.

GO plc also closed unchanged at the €2.94 level across six deals totalling 5,925 shares.

Plaza Centres plc maintained the €0.74 level over two deals totalling 6,705 shares.

RS2 Software plc  and M&Z plc retained their respective price levels of €1.13 and €0.685 on trivial volumes.

The RF MGS Index declined by 0.27% to the 880.325 level as yields continued to trend higher as ECB likely to pursue further tightening. In fact, yesterday, the ECB governing council member Klaas Knot stated that the ECB rate hikes are having a positive effect, but more will be needed to control inflation. Moreover, data published today in Germany was weak with March month-over-month industrial production declining 3.4%, significantly more than the expected 1.3% drop. Meanwhile, in the UK, the Bank of England is scheduled hold its monetary policy meeting on Thursday. The expectations are the BoE will increase interest rates by a further 25 basis points following in the footsteps of the ECB and US Federal Reserve.


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.