Daily Market Highlights (08.06.2023)

MSE Equity Price Index hits one-year high


The MSE Equity Price Index reached the highest level in twelve months as it increased by a further 0.32% to 3,772.407 points, mainly driven by the gains of local bank equities, which offset the declines in GO and various companies within the property sector. Meanwhile, four other equities closed unchanged as the total trading activity in equities amounted to €0.19 million. Download today’s Equity Market Summary.

Bank of Valletta plc climbed to a new four-year high as it gained another 1.6% to the €1.25 level across volumes totalling 63,020 shares.

Also in the banking sector APS Bank plc (17,050 shares) and HSBC Bank Malta (29,534 shares) both advanced by 1.6% to the €0.62 and €1.25 levels respectively.

Lombard Bank Malta plc surged by 4.2% to the €1.00 level, albeit on trivial volumes.

Hili Properties plc rose by 0.9% to the €0.228 level across two trades totalling 13,780 shares.

In contrast, GO plc shed 1.3% to the €2.96 level on a single deal of 2,000 shares.

VBL plc closed 1% lower at the €0.208 level as 117,321 shares changed hands.

Also in the property sector, Malita Investments plc eased by 0.8% to the €0.625 level across three deals totalling 30,000 shares.

Plaza Centres plc slumped by 20% to a 10-month low of €0.59 on lacklustre activity. Plaza is holding its Annual General Meeting on Wednesday 14 June.

MIDI plc dropped by 7.5% to a three-month low of €0.27 on a single trade of 3,571 shares.

AX Real Estate plc and Malta Properties Company plc held the €0.45 and €0.40 levels respectively on low volumes.

Malta International Airport plc traded flat at the €5.60 level across two deals totalling 1,255 shares.

A single trade of 1,000 shares left the share price of International Hotel Investments plc at the €0.535 level. IHI is holding its Annual General Meeting on Tuesday 13 June.

The RF MGS Index shed 0.71% to 870.174 points reflecting the sharp drop in bid prices for long-term MGS, thus resulting in a steeper yield curve. Data published today showed that the Euro Area entered a technical recession in the first quarter of this year as the economy shrunk for the second consecutive quarter, in contrast to earlier projections showing a marginal expansion. Meanwhile, the eurozone labour market continued to be resilient marking a 0.6% quarterly increase in employment levels.



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.