Daily Market Highlights (10.06.2022)

Trading in GO shares takes centre-stage


The MSE Equity Price Index eased by 0.20% to 3,738.261 points reflecting the declines in five equities. Meanwhile, Trident Estates was today’s only positive performing equity while four other shares closed unchanged. Trading activity in equities improved to €0.26 million compared to €0.02 million yesterday. Download today’s Equity Market Summary.

For the second consecutive day, the most actively traded equity was GO plc which eased by 0.6% to a 4-week low of €3.10 on three deals totalling 51,000 shares having a market value of €0.16 million.

Also among the large companies by market value, Bank of Valletta plc moved 1.1% lower to the €0.86 level on a total of 16,192 shares.

A single deal of 19,700 shares forced the share price of M&Z plc to move 1.9% lower to the €0.755 level.

Grand Harbour Marina plc dropped by 2.8% to the €0.70 level across 16,500 shares.

Hili Properties plc tumbled by 4.2% to the €0.23 level albeit on trivial volumes.

Elsewhere, PG plc held on to the €2.22 level across 8,450 shares. Today, PG announced that its Board of Directors is scheduled to meet on 28 June to consider the distribution of an interim dividend for the financial year ended 30 April 2022.

HSBC Bank Malta plc (16,360 shares) and International Hotel Investments plc (6,000 shares) traded flat at €0.75 and €0.73 respectively.

A single deal of just 2,300 shares left the share price of Malta Properties Company plc at the €0.515 level.

Also in the property sector, Trident Estates plc surged by 8.3% to recapture the €1.44 level across three deals totalling 15,200 shares.

The RF MGS Index posted the sharpest daily decline in nearly three months as it slid by 0.87% to a fresh all-time low of 952.438 points. Eurozone sovereign bond yields continued to surge following yesterday’s statement by the ECB confirming its intention to raise interest rates by 25 basis points in July followed by an additional rate hike in September. Meanwhile, today the Central Bank of Malta published updated projections for the local economy. Malta’s GDP is forecasted to grow by 5.4% in 2022, followed by further growth of 4.9% and 3.8% in 2023 and 2024 respectively. Inflation was revised higher to 5% in 2022 and 2.9% in 2023 compared to the previous forecasts of 2.7% this year and 1.9% in 2023. The CBM also noted that compared to GDP, Malta’s debt is expected to hover at around the 58% level by 2024.


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.