Daily Market Highlights (12.10.2022)

MIA on track to surpass 2022 targets


The MSE Equity Price Index trended minimally higher to 3,625.146 points as the uplift in GO outweighed the drop in BMIT whilst four other companies closed the day unchanged. Trading activity in equities remained muted as only €0.04 million worth of shares changed hands. Download today’s Equity Market Summary.

The main highlight across the local equity market was the announcement made by Malta International Airport plc in which the airport operator explained that during the month of September it welcomed 658,569 passengers which is only 13.6% lower than the record of 762,361 movements handled in the same month in 2019. Moreover, the seat load factor continued to improve as it reached 89.5% compared to 86.2% in 2019. MIA also referred to its newly launched Winter 2022/23 Schedule which offers around 80% of pre-pandemic connectivity together with several new developments that are expected to support the airport in surpassing its forecast 5.4 million passengers by the end of the year. During the nine-month period ending September 2022, MIA welcomed almost 4.41 million passengers which is 21.8% lower than the amount of 5.64 million handled in the same period in 2019. The equity remained inactive today.

Also among the large companies by market value, GO plc recaptured the €3.02 level (+0.7%) albeit on just 1,000 shares.

On the other hand, GO’s data centre and managed IT subsidiary – BMIT Technologies plc – retracted by 0.4% to the €0.462 level across 25,000 shares.

Elsewhere, Bank of Valletta plc held on to the €0.90 level after recovering from an intra-day low of €0.87 (-3.3%). A total of 21,329 shares traded.

A single deal of 2,390 shares left the share price of HSBC Bank Malta plc at the €0.74 level.

Similarly, APS Bank plc stayed at the €0.635 level across 10,000 shares.

Trident Estates plc traded flat at the €1.46 level on trivial volumes

The RF MGS Index stayed at just above 865 points as the gains in the prices of short-to-medium term MGS were offset by the declines in the prices of long-dated MGS. On the economic front, the IMF downgraded its forecast for global economic growth in 2023 to 2.7% and warned that countries accounting for one-third of the global economy may fall into recession. For the Maltese economy, the IMF is projecting growth to ease to 3.3% in 2023 from 6.2% this year, with the unemployment rate staying near its all-time low and inflation to subside to just above 2% by 2027.


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.