Daily Market Highlights (10.03.2023)

MIA passenger movements in February climb 5.5% above 2019 levels


The MSE Equity Price Index gained 0.54% to 3,647.267 points as the gains in APS, MIA, PG, and Loqus outweighed the decline in HSBC. Four other equities remained unchanged as total trading activity amounted to €0.18 million. During this week, the MSE Equity Price Index gained 1.2% over the previous week, despite registering declines on Tuesday and Thursday. Download today’s Equity Market Summary.

Malta International Airport plc moved 2.7% higher to the €5.80 level on five trades totalling 8,182 shares. Following the close of trading, MIA published the February 2023 traffic results. For the second consecutive month, passenger movements exceeded their relative 2019 figures as the February 2023 traffic of 379,073 passenger movements is 5.5% higher than the same month in 2019. The figure is almost double the movements registered in the same month last year. Nonetheless, the figure remains 10.1% below the record figure of 421,567 passenger movements of February 2020, which was the last month prior to the introduction of pandemic restrictions.

APS Bank plc regained the €0.62 level (+3.3%) across seven trades totalling 21,700 shares. Yesterday, APS Bank published their financial statements for the year ended 31 December 2022 showing strong growth in net interest income and an overall improvement in other income streams. However, the financial performance was dented by negative movements of financial assets held by APS Funds. Overall, the Group reported a pre-tax profit for the year of €15.7 (2021: €24.1 million). On the other hand, however, the Bank results show a record pre-tax profit of €28.9 million (2021: €23.7 million). Shareholders’ funds as at 31 December 2022 amounted to €250.4 million, which translates to a net asset value per share of €0.683. The Directors of APS are recommending the payment of a net final dividend of €0.0174 per share to shareholders as at close of trading on 12 April 2023, subject to approval during the upcoming Annual General Meeting which is scheduled to be held on 16 May 2023. Shareholders will have the option to receive the dividend either cash or in new ordinary shares at an attribution price of €0.57 per share.

Today’s most actively traded equity – PG plc – advanced by 3% to the €2.06 level on two deals totalling 28,200 shares.

Loqus Holdings plc surged by 20% to the €0.18 level on one deal of 13,668 shares.

Meanwhile, HSBC Bank Malta plc shed 1% to the €1.03 level across five trades totalling 12,644 shares.

Also in the retail banking sector, Bank of Valletta plc held the €0.925 level as 5,000 shares changed hands.

GO plc traded flat at the €3.10 level on three trades totalling 8,500 shares. GO is expected to publish the 2022 financial results on Wednesday 15 March 2023. The Board will also consider the declaration of a dividend.

GO’s data centre and IT services subsidiary – BMIT Technologies plc – stayed at the €0.47 level on a single deal of 7,000 shares. On Wednesday, BMIT published their financial statements for the year ended 31 December 2022 showing record revenues and profits. Overall, BMIT reported a net profit figure of €5.36 million (+5.8% over FY2021) which translates into a return on average equity of 49% (2021: 45.1%). The Directors of BMIT are recommending the payment of a net dividend of €0.0246 per share which is 1.5% lower than the net dividend of €0.02497 per share in respect of the 2021 financial year. Shareholders as at close of trading on 4 April 2023 will be entitled to receive the dividend which is expected to be paid on 12 May 2023 subject to shareholders’ approval during the upcoming Annual General Meeting which is scheduled to be held on 10 May 2023.

Lombard Bank plc closed unchanged at the €1.00 level on two trades totalling 15,764 shares.

Yesterday, Malita Investments plc announced that its Board of Directors is scheduled to meet on Thursday 16 March 2023 to consider and approve the financial statements for the year ended 31 December 2022. The Board of Directors will also consider the payment of a final dividend.

The RF MGS Index climbed nearly 1% to 874.721 points as eurozone yields fell sharply amid concerns led by a relatively small US technology-focused lender. Today, US payrolls data showed an increase of 311,000 in February, higher than the expected 225,000 figure. The Chairman of the Federal Reserve Jerome Powell stated that the payroll numbers will be crucial to further rate hike decisions. Elsewhere, the UK GDP grew by 0.3% in January on a year-on-year basis, exceeding expectations and an improvement over the decline of 0.5% in December 2022.


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.