Daily Market Highlights (13.10.2023)

MSE Equity Price Index climbs marginally higher


The MSE Equity Price Index gained 0.26% to 3,647.132 points as the gains in BOV and Hili outweighed the decline in IHI. Meanwhile, four other equities closed unchanged as trading activity in local equities was lacklustre at just €0.07 million. Download today’s Equity Market Summary.

Bank of Valletta plc advanced by 0.8% to a one-week high of €1.23 across six trades totalling 18,961 shares. BOV recovered from an intra-day low of €1.21 (-0.8%). Yesterday, BOV announced that the Bank is in advanced negotiations to sell a portfolio of long-standing non-performing loans to strengthen its capital and liquidity buffers.

Hili Properties plc was today’s best market performer as it rebounded by 14.7% to the €0.218 level over five deals totalling 23,000 shares. Hili recovered from an intra-day low of €0.18 (-5.3%)

On the other hand, International Hotel Investments plc shed 2% to the €0.50 level on a single trade of 4,970.

Malta International Airport plc traded flat at the €5.50 level across nine deals totalling 4,313 shares. On Wednesday, MIA published the September 2023 traffic results. Passenger movements exceeded their relative 2019 figures for the ninth consecutive month and amounted to 812,176 passenger movements, which is 6.5% above the comparable figure of 762,361 registered in September 2019. Passenger movements in September 2023 were 23.3% higher than the movements registered in the same month last year.

Also among large companies by market capitalisation, HSBC Bank Malta plc held the €1.13 level on muted activity.

A single trade of 3,900 shares left the share price of PG plc unchanged at the €1.96 level.

MaltaPost plc remained at the €0.42 level on one trade of €24,702 shares.

The RF MGS Index snapped a six-day positive streak as it declined by 0.35% to 854.944 points. Data released today showed that during September, annual inflation in both Spain and France was 0.1 percentage points higher than forecasted at 3.3% and 5.7% respectively. Meanwhile in the US, consumer sentiment in October fell much more than expected. Contrastingly, the US labour market continued to show its strength with filings for unemployment reaching a 7-month low last week.

Today, the Treasury Department announced that it received applications totalling around €351.9 million (nominal) for the two new Malta Government Stocks issued via auction. The Treasury had offered a total of €200 million (nominal), with the option of increasing the aggregate amount by a maximum amount of a further €150 million (nominal). The Treasury exercised part of its over-allotment option and allotted a total of €341.9 million (nominal). The statistics published by the Treasury indicate that €177.5 million were allotted to institutional investors in the 3.85% MGS 2026 (VI) at prices ranging from a high of 100.31% (translating into a yield-to-maturity of 3.73%) to a cut-off price of 98.82% (YTM: 4.30%). The weighted average price for accepted bids was of 99.47%, which translates to a YTM of 4.05%. In the 3.95% MGS 2028 (VII), a total of €164.4 million (nominal) were allotted to institutional investors at prices ranging from 100.43% (YTM: 3.85%) to a cut-off price of 98.17% (YTM: 4.37%). The weighted average price for accepted bids was of 99.10%, which translates to a YTM of 4.16%.


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.