Daily Market Highlights (09.12.2022)

The MSE Equity Price Index falls to 25-month low

The MSE Equity Price Index shed 1.4% to 3,531.042 points – the lowest level in over two years – reflecting the declines of the ordinary shares of RS2, APS, and BOV. Meanwhile, LifeStar Insurance plc remained at the €0.50 level on lacklustre volumes. Download today’s Equity Market Summary.

Bank of Valletta plc was today’s most actively traded equity as it eased by 1.2% to the €0.85 level across eight trades totalling 35,540 shares, representing over 90% of the value of equities traded today. On Tuesday, BOV announced that it issued €350 million in callable senior non-preferred notes which were offered on both the local and international markets at a coupon of 10%. Given their complexity, the Notes were not available to the retail market but could only be subscribed for by professional investors and eligible counterparties for a minimum of €100,000 (nominal). The net proceeds from the issue of Notes will be used to further strengthen the MREL requirements of the Bank and its consolidated subsidiaries, thereby allowing BOV to increase its lending book and expand the investment horizon of its proprietary investments, as well as for the general financing purposes of the Group.

Also in the banking sector, APS Bank plc dropped by 1.6% to the €0.60 level, albeit on trivial volumes.

The ordinary shares of RS2 Software plc plunged by 17.7% to a near 4-year low of €1.02 on a single trade of 1,447 shares.

The RF MGS Index erased most of Wednesday’s uplift as it fell by 0.54% to 900.489 points. The widely anticipated US Producer Price Inflation (‘PPI’) data showed that inflation remained elevated. The annual PPI for November was at 7.4%, which although well below the levels seen during the last twelve months, was still higher-than-expected. The data also showed that inflation became more widespread as the core PPI, which excludes food and energy prices, was also above expectations. Meanwhile in the UK, the government announced extensive reforms aimed to allow its financial services sector to operate with more flexibility.


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.