Daily Market Highlights (11.09.2023)

Five equities lift the MSE Equity Price Index


The MSE Equity Price Index rebounded by 0.40% to 3,737.785 points reflecting the gains in AX Real Estate, BMIT, BOV, GO, and MPC. Meanwhile, two other equities closed unchanged as overall trading activity amounted to €0.10 million. Download today’s Equity Market Summary.

AX Real Estate plc surged by 11.1% to the €0.50 level across three trades totalling 94,749 shares.

Also in the property sector, Malta Properties Company plc advanced by 4.1% to the €0.408 level across three deals totalling 29,825 shares.

BMIT Technologies plc climbed 3.5% higher to the €0.414 level on volumes totalling 44,334 shares. Last week, BMIT issued a Shareholder Circular in relation to the proposed transaction with GO plc for the potential assignment and transfer of certain lease rights and obligations currently enjoyed by GO as well as the passive infrastructure used for hosting telecommunications equipment. The transaction is being proposed for approval in the forthcoming Extraordinary General Meeting scheduled to be held on Monday 25 September 2023.

BMIT’s parent company – GO plc – moved 0.7% higher to the €2.94 level on a single trade of 1,020 shares.

Bank of Valletta plc increased by 0.8% to the €1.27 level after recovering from an intraday low of €1.25 (-0.8%) across four deals totalling 7,120 shares.

APS Bank plc (160 shares) and HSBC Bank Malta plc (8,174 shares) closed unchanged at the €0.60 and €1.20 levels respectively.

The RF MGS Index remained virtually unchanged at 866.444 points as the attention within the eurozone sovereign bond markets shifts to the ECB monetary policy meeting scheduled for Thursday 14 September. Today, the European Commission lowered its growth predictions for Europe’s economy. While most eurozone countries are expected to maintain a marginal level of growth, Germany is expected to experience a recession with its economy contracting by 0.4% in 2023. Germany’s economy is expected to rebound by 1.1% in 2024, but this level of growth is also lower than previous forecasts.


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.