Daily Market Highlights (09.05.2023)

 Healthy volumes in BMIT


The MSE Equity Price Index dropped by 0.36% to 3,669.660 points as the declines in HSBC, IHI, and PG outweighed the gains in BOV and BMIT. Meanwhile, six other equities closed unchanged as total trading activity amounted to €0.4 million. Download today’s Equity Market Summary.

 Bank of Valletta plc recouped some of yesterday’s losses as it increased by 2.8% to regain the €1.10, across three deals totalling 33,943 shares.

BMIT Technologies plc also trended in positive territory as it gained 0.9% to reach the €0.43 level on healthy volumes of 279,950 shares across eleven trades.

On the other hand, HSBC Bank Malta plc reversed some of yesterday’s gains as the equity slid 0.9% lower to the €1.09, after only partially recovering from an intraday low of €1.05 (-4.5%).

International Hotel Investments plc shed 7.7% to a six-week low of €0.54 over four deals totalling 40,000 shares.

PG plc also moved lower by 1% back to a two-week low of €1.96 as 20,500 shares changed hands.

Meanwhile, Mapfre Middlesea plc closed unchanged at the €1.66 level after recovering 5.1% from its intraday low of €1.58 across three deals totalling 90,000 shares.

Similarly, Malta International Airport plc maintained the €5.55 level across two deals totalling 2,700 shares. Earlier this afternoon, the airport operator announced its April traffic results, announcing that it managed to hit the 700,000-passenger mark earlier than anticipated, and by the end of April, total passenger movements reached 708,399, an 8.4% increase over the levels achieved in 2019. MIA also noted a strong seat load factor of 84.6% for April.

Malta Properties Company held on to the €0.402 level across four trades totalling 20,000 shares, while both GO plc and Simonds Farsons Cisk plc retained their respective price levels of €2.94 and €7.00 on trivial volumes.

The RF MGS Index fell by 0.23% to a one-week low of 878.291 points as eurozone yields rose on the back of comments from both the ECB’s chief economist Philip Lane and ECB policymaker Peter Kazimir who both spoke about the possibility of raising interest rates for longer than anticipated due to inflation’s resilient momentum. On the other hand, in the US, inflation expectations for a one-year horizon decreased to 4.4% in April from 4.7% in March. Furthermore, US small business optimism reached the lowest point in ten years as employers are struggling to fill vacancies with qualified staff. Meanwhile in China year-on-year imports shrunk by 7.9% in contrast to expectations of a flat reading.


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.