Daily Market Highlights (14.12.2022)

MSE Equity Price Index posts six-day negative streak


The MSE Equity Price Index moved lower for the 6th consecutive session as it dropped by a further 0.60% to 3507.935 points. Five equities ended the session lower while only Tigné moved higher. Meanwhile, MIDI and Mapfre closed the day unchanged as overall trading amounted to €0.04 million. Download today’s Equity Market Summary.

Malta International Airport plc was the most actively traded equity today as it eased by 0.9% to the €5.65 level across six deals totalling 3,184 shares. Last week, Air Malta announced that the airline will deliver an average 20% growth in number of flights operated per week across the April to October 2023 period and plans to operate up to 157 flights per week into Malta during the peak summer period.

Also among the large companies by market value, Bank of Valletta plc moved 1.2% lower to the €0.84 level across volumes totalling 4,202 shares.

HSBC Bank Malta plc fell 4.7% to the €0.715 level on two trades totalling 3,087 shares.

M&Z plc declined by 1.4% to the €0.69 level on one deal of 3,285 shares.

Simonds Farsons Cisk plc moved 0.7% lower to the €7.30 level on muted volumes.

A single trade of 1,000 shares pushed the share price of Tigné Mall plc 1.3% higher to the €0.76 level.

MIDI plc traded flat at its 7-year low of €0.24 across 33,339 shares.

Mapfre Middlesea plc held the €1.55 level on trivial volumes.

The RF MGS Index remained virtually unchanged at 897.630 points as investors await the outcome of the Federal Reserve monetary policy meeting, in which the Fed is expected to increase to its key rates by 50 basis points. Earlier this week, the consumer price index data showed that the US annual inflation rate in November stood at 7.1%, which although lower than the levels recorded in the previous five months, is still considered elevated.

On Monday, MedservRegis plc announced the allocation policy with respect to the recently issued €13 million 5.00% secured bonds maturing in 2029. In total, MedservRegis received 1,474 applications for a value of €14.6 million. An amount of €5.35 million was subscribed by holders of the 6.00% secured and guaranteed notes 2020/2023 who were given preference to subscribe for the bonds by surrendering their respective callable bonds. This represented around 41% of the total callable bonds and all such applications were allocated in full. MedservRegis also allocated in full applications by callable bondholders which required cash top-ups for the minimum application amount of €2,000. Following such allocations, an amount of €6.5 million remained available and was allocated to callable bondholders who applied for additional amounts. Such applications were allocated the first €10,000 in full and 19.499% on the remaining amount, rounded to the nearest €100. Refunds of unallocated amounts will be made by 20 December 2022 whilst interest on the new bonds will commence on 22 December 2022. The new bonds are expected to be admitted to listing on the Malta Stock Exchange on 22 December 2022 and trading is expected to commence on 23 December 2022.


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.