Daily Market Highlights (09.02.2022)

BOV sheds 4.8% following Deiulemar judgement


The MSE Equity Price Index extended yesterday’s decline as it dropped by a further 0.66% to a new 14-month low of 3,690.850 points. BOV, Lombard and Harvest moved lower whilst BMIT, MPC and VBL remained unchanged as overall trading activity amounted to €0.27 million. Download today’s Equity Market Summary.

Bank of Valletta plc dropped by 4.8% to the €0.80 level amid heightened activity totalling 309,560 shares, representing 91% of today’s total value of shares traded. Yesterday, BOV announced that the Tribunal of Torre Annunziata delivered its decision against the Bank for an aggregate amount totalling €370 million including legal interests and fees. BOV will be appealing this decision in line with advice from its legal advisors. BOV also reassured the market that it is well capitalized and its operations will not be adversely impacted by the decision. In 2018, the Bank already held funds in excess of €363 million with an independent entity as a precautionary security.

Also in the retail banking sector, Lombard Bank Malta plc retracted by 3% to the €1.91 level on a single trade of 2,193 shares.

Harvest Technology plc eased by 0.7% to the €1.50 level on two trades totalling 11,429 shares.

Within the same sector, BMIT Technologies plc maintained the €0.482 level on trivial volumes.  

A single deal of 2,400 shares kept the share price of Malta Properties Company plc unchanged at the €0.51 level as 2,400 shares changed hands.

Also in the property sector, VBL plc closed unchanged at the €0.252 level on a single trade of 4,750 shares.

The RF MGS Index moved higher for the first time in 8 sessions as it increased minimally by 0.05% to 1,041.235 points. Germany reported a lower trade surplus in December 2021 as the growth in imports outweighed the increase in exports for the fifth consecutive year. Elsewhere, Bank of England’s chief economist Huw Pill indicated that he favoured a steady approach to further monetary policy tightening.


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.