Daily Market Highlights (14.03.2023)

MPC reports higher operating profits, increases dividend


The MSE Equity Price Index shed 0.3% to 3,639.026 points as the declines in MIA and BOV outweighed the gains in four equities. Meanwhile, four other equities remained unchanged. Download today’s Equity Market Summary.

Following the close of trading, Malta Properties Company plc published the 2022 financial results showing an improvement in rental income to €4.15 million compared to €3.58 million in 2021, reflecting the new rental income from the Ta’ Xbiex property acquired in March 2022 as well as the handover of the Zejtun Complex to GO plc. As a result, operating profit improved by 31.7% to €2.74 million. Meanwhile, the financial performance was impacted by higher finance costs and a marginal fair value loss on property compared to the €2.22 million fair value gain in the previous year. As at the end of 2022, shareholders’ funds amounted to €55.6 million equivalent to a net asset value of €0.549 per share. The Board of Directors declared a final net dividend of €0.013 (2021: €0.012) per share to shareholders as at close of trading on 13 April 2023.

GO plc was today’s most actively traded equity as it climbed by 0.6% to the €3.16 level across volumes totalling 13,000 shares. GO is expected to publish the 2022 financial results tomorrow. The Board will also consider the declaration of a dividend.

Two deals totalling 2,926 shares pushed the share price of Mapfre Middlesea plc 0.6% higher to the €1.63 level.

VBL plc (4,000 shares) and Loqus Holdings plc (400 shares) were the other positive performing equities as they surged 7% and 21% to €0.246 and €0.218 respectively.

In contrast, Malta International Airport plc dropped by 3.4% to the €5.65 level across two trades totalling 1,378 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.

Bank of Valletta plc extended yesterday’s decline as it fell by a further 0.5% to the €0.915 level across four deals totalling 12,700 shares.

Also in the retail banking sector, APS Bank plc (6,617 shares) and HSBC Bank Malta plc (6,000 shares) closed unchanged at the €0.62 and €1.03 levels respectively.

Hili Properties plc held the €0.22 level on a single trade of 55,600 shares.

Simonds Farsons Cisk plc closed unchanged at the €7.15 level after recovering from an intraday low of €6.85 (-4.2%) across two deals totalling 375 shares.

The RF MGS Index posted a four-day winning streak as it advanced by a further 0.70% to 884.712 points. Eurozone sovereign bond yields remained volatile as investors continue to assess the potential repercussions from the failure of Silicon Valley Bank in the US as well as the actions to be taken by major central banks in the coming weeks. The US annual inflation rate eased to 6% in February in line with expectations, compared to 6.4% in the previous month, adding to further expectations that the Federal Reserve may tame its aggressive policy stance.


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.