Daily Market Highlights (14.11.2023)

BOV and Tigné Mall dominate trading activity


The MSE Equity Price Index extended yesterday’s losses as it decreased by a further 0.3% to a fresh six-month low of 3,569.183 points. The declines in Tigné Mall, APS, and Trident outweighed the gain in Hili Properties. Meanwhile, three other equities closed unchanged as the trading activity in local equities amounted to €0.20 million. Download today’s Equity Market Summary.

Bank of Valletta plc was today’s most actively traded equity as it traded flat at the €1.21 level across volumes of 105,298 shares. BOV shareholders at the close of trading on Friday 17 November 2023 will receive a net interim dividend of €0.03 per share on Wednesday 6 December 2023.

The shares of Malta International Airport plc and HSBC Bank Malta plc also remained unchanged at the €5.50 and €1.15 levels respectively on muted activity.

Tigné Mall plc retreated by 8.9% back to the €0.82 level on a single trade of 75,466 shares.

APS Bank plc shed 3.5% to an all-time low of €0.55 across three deals totalling 10,655 shares.

Trident Estates plc moved 5.3% lower to the €1.25 level on trivial volumes.

Also in the property sector, Hili Properties plc gained 2.9% to the €0.216 level on one trade of 2,000 shares.

The RF MGS Index gained 0.10% to 861.492 points. Within the eurozone, in the third quarter of 2023, GDP declined by 0.1% compared to the previous quarter, albeit in line with expectations. Nonetheless, employment increased by 0.3%, exceeding expectations and highlighting the resilience of the labour market despite the slowing economy. Meanwhile, in the US, inflation in October eased to 3.2% compared to forecasts of 3.3%. Particularly, core CPI stood at 4.0%, which is the lowest reading in over two years. Following the publication of the inflation data, US sovereign bond yields fell notably, with the US 10-year yield drifting lower by around 17 basis points to the 4.46% level, the lowest since the end of September.


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