Daily Market Highlights (13.03.2023)

MSE Equity Price Index rises to 4-month high


The MSE Equity Price Index advanced by a further 0.07% to a 4-month high of 3,649.784 points as the gains in MIA and GO outweighed the declines in BOV, Harvest and Trident. Meanwhile, three other equities remained unchanged as total trading activity eased to €0.08 million compared to €0.18 million in the previous session. Download today’s Equity Market Summary.

Malta International Airport plc climbed by a further 0.9% to recapture the €5.85 level across ten trades totalling 6,198 shares. Last Friday, MIA published the February 2023 traffic results which showed that for the second consecutive month, passenger movements exceeded their relative 2019 figures. Indeed, the February 2023 traffic of 379,073 passenger movements is 5.5% higher than the same month in 2019.

Two trades totalling 2,000 shares pushed the share price of GO plc 1.3% higher to the €3.14 level. GO is expected to publish the 2022 financial results on Wednesday. The Board will also consider the declaration of a dividend.

APS Bank plc traded flat at the €0.62 level on three deals totalling 18,081 shares. Last week, APS Bank published the 2022 financial results. Overall, the Group reported a pre-tax profit for the year of €15.7 million (2021: €24.1 million). On the other hand, however, the Bank results show a record pre-tax profit of €28.9 million (2021: €23.7 million). Shareholders’ funds as at 31 December 2022 amounted to €250.4 million, which translates to a net asset value per share of €0.683. The Directors of APS are recommending the payment of a net final dividend of €0.0174 per share to shareholders as at close of trading on 12 April 2023, subject to approval during the upcoming Annual General Meeting which is scheduled to be held on 16 May 2023. Shareholders will have the option to receive the dividend either cash or in new ordinary shares at an attribution price of €0.57 per share.

Within the same sector, HSBC Bank Malta plc closed unchanged at the €1.03 level after failing to hold to a high of €1.04 (+1%) across three trades totalling 14,239 shares.

Plaza Centres plc held the €0.73 level on trivial volumes.

In contrast, Trident Estates plc fell by 3.8% to the €1.25 level on a single deal of 5,000 shares.

Harvest Technology plc shed 0.7% to the €1.42 level on one trade of 1,680 shares.

Bank of Valletta plc eased by 0.5% to the €0.92 level on muted activity.

The RF MGS Index advanced for the third consecutive session as it increased by a further 0.43% to 878.523 points. Yields across major economies fell sharply as the failure of Silicon Valley Bank (SVB) led to speculation that central banks may halt further rate hikes to protect the financial services sector. SVB was taken over by regulators last week as substantial customer withdrawals led the bank to realise substantial losses in its bond portfolios, which had been hit by the Fed’s aggressive rate hikes over the past months. Yield movements were also evident within the eurozone as the German 10-year bund yield fell sharply to the 2.20% level from 2.46% last Friday.


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.