Daily Market Highlights (14.08.2023)

 HSBC drags MSE Equity Price Index lower


The MSE Equity Price Index shed 0.25% to 3,824.415 points driven by the decline in HSBC. Meanwhile, BOV and Mapfre closed unchanged as total trading activity was muted at just €0.06 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc shed 2.3% to a two-week low of €1.25 across two trades totalling 7,700 shares.

Bank of Valletta plc closed unchanged at the €1.31 level after recovering from an intraday low of €1.27 (-3.1%) across seven deals totalling 41,100 shares.

BOV’s insurance associate – Mapfre Middlesea plc – held the €1.25 level on trivial volumes.

Today, VBL plc announced that its Board of Directors is scheduled to meet on Monday 28 August 2023 to consider and approve the interim financial statements for the six-month period ended 30 June 2023.

The RF MGS Index declined by a further 0.16% to 868.046 points, as yields across the eurozone sovereign bond markets remained elevated with the 10-year German bund yield touching a one-month high of 2.65% during the day. Despite that Germany’s wholesale prices registered a year-on-year drop for the fourth consecutive month, inflation concerns remained elevated as oil and gas prices last week reached the highest levels since January. Meanwhile, producer prices within the US also increased above expectations.

Last Friday, ClearFlowPlus plc announced the basis of acceptance and allocation policy in relation to the offer of €25 million 4.25% unsecured bonds redeemable in 2033. ClearFlowPlus explained that as at 1 August 2023, it received applications for a total value of €29.5 million. As a result of the over-subscription, the offer was closed ahead of schedule. Applications submitted by Preferred Applicants for a fixed amount of €5,000 per application will be allotted in full. With respect to other applications, the Company will be allocating the first €50,000 of each application in full, and 50.59% on any additional amount applied for thereafter, rounded to the nearest multiple of 100. Refunds of unallocated amounts will be made by 21 August 2023. The new bonds are expected to be admitted to listing on the Green Bond List of the Malta Stock Exchange on 21 August 2023 and trading is expected to commence on 22 August 2023. Interest on the new bonds commenced accruing on 11 August 2023 and will be payable annually in arrears on 25 August, with the first interest payment (covering the period from 11 August 2023 up to and including 24 August 2024) payable on 25 August 2024.


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.