Daily Market Highlights (09.08.2023)

MSE Equity Price Index registers three-day negative streak


The MSE Equity Price Index shed 0.20% to 3,833.100 points as the declines in BOV, HSBC and MPC outweighed the gain of GO. Meanwhile, three other equities closed unchanged as trading activity in equities remained subdued at €0.09 million. Download today’s Equity Market Summary.

Bank of Valletta plc eased by 0.8% to the €1.31 level after failing to hold to an intraday high of €1.33 (+0.8%) across volumes totalling 27,040 shares.

Also in the banking sector, HSBC Bank Malta plc dropped by 1.5% to the €1.28 level across two deals totalling 1,354 shares. HSBC shareholders as at close of trading tomorrow will receive a net interim dividend of €0.039 per share, payable on 15 September 2023.

A single trade of 2,090 shares pulled the share price of Malta Properties Company plc 3.9% lower to the €0.392 level.

In contrast, GO plc advanced by 2% to regain the €3.00 level across four trades totalling 10,550 shares.

Malta International Airport plc traded flat at the €5.70 level on four deals totalling 1,384 shares. MIA shareholders as at close of trading on Monday 21 August 2023 will receive a net interim dividend of €0.03 per share, payable by not later than Friday 15 September 2023.

Similarly, APS Bank plc held the €0.63 level on two deals totalling 26,638 shares. APS shareholders as at close of trading on 23 August 2023 will receive a net interim dividend of €0.0056 per share, which shareholders can elect to receive the dividend either in cash or through the issuance of new ordinary shares at an attribution price of €0.57 per share.

Trident Estates plc remained at the €1.35 level on muted activity.

Today, Harvest Technology plc published its interim financial statements covering the six-month period ended 30 June 2023. Revenues decreased by 13.2% to €7.20 million (H1 2022: €8.29 million) reflecting declines in both the Retail & IT Solutions segment (-10.8% to €5.46 million) and the Payment Processing Services arm (-19.7% to €2.1 million). Operating costs decreased by 3.8% to €6.90 million, however in view of the sharper decrease in revenue than in operating costs, operating profit slumped by 73% to €0.3 million from €1.12 million in the same period last year. The net profit for the period amounted to €0.18 million (H1 2022: €0.72 million).

M&Z plc announced that its Board of Directors is scheduled to meet on Tuesday 29 August 2023 to consider and approve the interim financial statements for the six-month period ended 30 June 2023. The Directors will also consider the declaration of an interim dividend.

The RF MGS Index gained 0.14% to a two-week high of 874.435 points, as eurozone sovereign bond yields moved marginally lower. Data from China showed that consumer prices dropped by 0.3% year-on-year in July, the first decline since February 2021. Yesterday, the President of the Philadelphia Federal Reserve Patrick Harker said that a pause in interest rate hikes is possible at the Federal Reserve’s next monetary policy meeting next September.


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.