Daily Market Highlights (13.06.2022)

MIA publishes upbeat traffic results


The MSE Equity Price Index retracted by 1.7% to 3,674.966 points largely reflecting the sharp adjustment to the share price of Farsons. Meanwhile, BMIT and Mapfre Middlesea also finished the day lower whilst BOV, GO and Main Street Complex closed unchanged. Overall trading activity in equities was muted as €0.1 million worth of shares changed hands. Download today’s Equity Market Summary.

Simonds Farsons Cisk plc tumbled 20% to the €7.00 level (equivalent to the pre-bonus share price of €8.40) on a total of 11,382 shares.

Mapfre Middlesea plc eased by 2.1% to the €1.89 level albeit on trivial volumes.

A single deal of 10,000 shares forced the share price of BMIT Technologies plc to drop by 2.9% back to the €0.47 level.

BMIT’s parent company – GO plc – remained at the €3.10 level across 1,460 shares.

Also among the large companies by market value, Bank of Valletta plc stayed at the €0.86 level on a total of 7,606 shares.

Main Street Complex plc traded flat at the €0.40 level on volumes totalling 5,660 shares.

Today, Malta International Airport plc announced that during the month of May, passenger movements increased by 8% from the previous month to 554,820 which, in turn, is only 17.7% lower than the amount of 674,101 passengers welcomed in the same period in 2019. Whilst passenger traffic recovered in line with the increase in seat capacity, the seat load factor of 81.4% achieved in May 2022 was the highest since October 2019 and even superior to the level of 80.3% recorded in May 2019. Moreover, the total number of passenger movements since the start of 2022, amounting to 1.74 million, has now reached the level of traffic recorded in all of 2020.

Elsewhere, APS Bank plc announced that it received applications for a total of 171.3 million shares (equivalent to more than €104 million) compared to the offer of up to 110 million shares. Applications from Preferred Applicants up to and including 25,000 shares will be satisfied in full, whilst applications for more than 25,000 shares will be satisfied in full for the first 25,000 shares plus 50% of the remaining balance. On the other hand, applications from the General Public up to and including 5,000 shares will be satisfied in full, whilst applications for more than 5,000 shares will be satisfied in full for the first 5,000 shares plus 13.5139% of the remaining balance. APS noted that its shares are now expected to be admitted to listing on Friday 17 June 2022 whilst commencement of trading will be possible as from Monday 20 June 2022. Moreover, refund of unallocated monies will take place on Monday 20 June 2022.

The RF MGS Index opened the week sharply lower as it slid by 1.3% to 940.197 points. Sovereign bond yields in the euro area continued to rally as the 10-year benchmark German Bund yield climbed to an over 8-year high of almost 1.6%. Similarly, the yields on 10-year Spanish and Italian government bonds rose to multi-year highs of around 3% and 4% respectively.


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.