Daily Market Highlights (10.11.2023)

Muted trading activity across local equities


The MSE Equity Price Index remained practically unchanged at 3,617.281 points as three equities closed unchanged while AX Real Estate plc surged by 4.3% to an almost two-month high of €0.48 over two deals totalling 3,334 shares. Trading activity on local equities was lacklustre at €0.08 million. Download today’s Equity Market Summary.

Most of today’s trading centred around the shares of Bank of Valletta plc as it closed unchanged at the €1.24 level after recovering from an intraday low of €1.23 (-0.8%) across seven trades totalling 64,945 shares. BOV shareholders at the close of trading on Friday 17 November 2023 will receive a net interim dividend of €0.03 per share on Wednesday 6 December 2023.

Also in the banking sector, APS Bank plc held the €0.57 level over trivial volumes.

A single trade of 140 shares left the share price of Malta International Airport plc unchanged at the €5.50 level. Last Tuesday, MIA published its financial results for the first nine months of the year and also provided updated guidance. During the first nine months of 2023, revenues reached a record (at the interim stage) of €91.6 million, which is 18.5% higher than the previous record of €77.3 million generated in the first nine months of 2019. Likewise, the net profit for the period amounted to €32.3 million (3Q 2019: €26.9 million). For the second time this year, MIA updated its forecasts for the 2023 financial year. MIA now expects a new record of passenger movements of 7.8 million (2019: 7.31 million), revenues of €118 million (2019: €100.2 million), EBITDA of €74 million (2019: €63.2 million), net profit of €40 million (2019: €33.9 million), and capital investments of €45 to 50 million (2019: €24.9 million).

Today, MaltaPost plc announced that its Board of Directors is scheduled to meet on Tuesday 19 December 2023 to consider and approve the financial statements for the year ended 30 September 2023.

The RF MGS Index declined by 0.44% to 860.931 points as sovereign bond yields rebounded following yesterday’s comments by the Chairman of the Federal Reserve Jerome Powell who remarked that the Fed will not hesitate to tighten monetary policy further if progress on reducing inflation stalls. Nonetheless, the Fed remains cautious that the full effects of previous hikes may not have yet seeped into the economy. Elsewhere in the UK, the economy grew by 1.3% during September, slightly more than expected.


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.