Daily Market Highlights (12.12.2023)

Three Equities push MSE Equity Price Index higher


The MSE Equity Price Index increased by 0.48% to 3,665.323 points as the gains in BOV, HSBC and GO outweighed the declines in MIA. Meanwhile, four other equities closed unchanged as the total trading value in local equities amounted to €0.11 million. Download today’s Equity Market Summary.

Bank of Valletta plc moved 1.6% higher to the €1.24 level across seven deals totalling 34,069 shares.

Also in the banking sector, HSBC Bank Malta plc advanced by 2.5% to the €1.24 level across four trades totalling 17,500 shares. This afternoon, the bank announced the conclusion of a €65 million subordinated loan granted by its parent, HSBC Continental Europe, which bears an interest of 3-month EURIBOR plus a margin of 237 basis points. This loan will qualify as Tier 2 capital for the bank.

GO plc rose by 0.7% to the €2.92 level as 6,000 shares changed hands across two trades.

On the other hand, Malta International Airport plc shed 0.9% to a two-week low of €5.70 over six deals totalling 4,500 shares. Last Friday, MIA published the November 2023 traffic results. Passenger movements exceeded their relative 2019 figures for the eleventh consecutive month and amounted to 528,923 passenger movements, which is 7.2% above the November 2019 passenger traffic. Passenger movements in November 2023 were also 22% higher than the movements registered in the same month last year. The seat load factor for November 2023 was 84.9%, which is 6.8 percentage points higher than in November 2019. The passenger movements during the eleven-month period ended November 2023 amounted to 7.27 million, representing an increase of 6.5% over the corresponding period in 2019 and 34% above the passenger traffic recorded in the same period last year.

Meanwhile, The Convenience Shop (Holding) plc traded flat at the €1.05 level on two trades totalling 2,450 shares.

A single deal of 878 shares of Santumas Shareholdings plc left its price unchanged at the €1.28 level.

Similarly, International Hotel Investments plc and PG plc held on to the €0.466 and €2.08 price levels, respectively, over trivial volumes.

The RF MGS Index moved 0.32% higher to 889.351 points, as it recouped some of yesterday’s losses. Data published today shows that in the United States, inflation during November eased to 3.1% from 3.2% last October, as per expectations. Moreover, core inflation during November remained unchanged at 4.0%, which is the lowest level reached in the past two years. Today, the Federal Open Market Committee has commenced the last scheduled monetary policy meeting of the year which will culminate in an interest rate decision tomorrow. Notably, the Fed is widely expected to leave the interest rate target range unchanged between 5.25%-5.50% for the third consecutive meeting. Furthermore, the Fed will also publish its latest summary of economic projections which will indicate the amount of interest rate cuts its officials foresee for the upcoming financial year.


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.