Daily Market Highlights (13.06.2023)

MSE Equity Price Index drops for the third consecutive session


The MSE Equity Price Index posted a three-day losing streak as it dropped by a further 0.29% to 3,697.076 points as the declines of HSBC, GO, BMIT, MPC and Medserv outweighed the gains in BOV, IHI and MIA. Download today’s Equity Market Summary.

HSBC Bank Malta plc moved lower for the third consecutive session as it lost a further 1.7% to the €1.13 level across a single deal of 6,000 shares.

Also among the large companies by market value, GO plc shed 2% to the €2.88 level across three trades totalling 2,090 shares.

GO’s data centre and IT services subsidiary – BMIT Technologies plc – went down by 2.3% to the €0.42 level as 25,000 shares exchanged hands.

MedservRegis plc was today’s worst performing equity as it plunged 20.0% to a five-month low of €0.60 after partially recovering from an intraday low of €0.545 (-27%) across two trades totalling 17,952 shares.

A single deal of 2,090 shares pulled the share price of Malta Properties Company plc 10% lower to an all-time low of €0.36.

In contrast, Bank of Valletta plc moved 0.8% higher to €1.25 level as 37,924 shares exchanging hands.

International Hotel Investments plc surged by 3.7% to the €0.555 level on one deal of 12,345 shares. Today, IHI held its Annual General Meeting which approved all resolutions on the agenda.

Malta International Airport plc advanced by 0.9% to the €5.60 level on two trades totalling 535 shares.

The RF MGS Index remained virtually unchanged at 875.691 points. While yields across the eurozone opened the session with minimal yield changes, the UK sovereign bond yields increased sharply with the yield on the two-year gilts hitting the highest level since August 2008 of 4.75%. The movements were largely attributed to the latest UK labour market data which showed a significant rise in wage-growth between February and April of this year. Meanwhile, within the Euro Area, the German annual inflation declined to a 14-month low of 6.1% in May from 7.2% in the previous month. The drop was largely driven by lower energy prices. Elsewhere, the US annual inflation for inflation eased to 4.0% from 4.9% in the previous month, which is marginally lower than projections of 4.1%.


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.