Daily Market Highlights (15.11.2023)

Malita to hold EGM ahead of Rights Issue


The MSE Equity Price Index reversed yesterday’s declines as it increased by 0.26% to 3,578.548 points driven by the gain in the ordinary shares of RS2. Meanwhile, eight other equities closed unchanged as the trading activity in local equities amounted to €0.16 million. Download today’s Equity Market Summary.

Yesterday evening, Malita Investments plc announced that it has convened an Extraordinary General Meeting (EGM) to be held on Thursday 14 December 2023 for shareholders to consider and approve resolutions relating to a Rights Issue and issuance of new ordinary shares. The EGM resolutions are also intended to increase the authorised and issued share capital, as well as amend the Company’s memorandum and Articles of Association. Shareholders as at close of trading on 10 November 2023 will be eligible to vote in the upcoming Extraordinary General Meeting.

The ordinary shares of RS2 plc surged by 4.8% to the €1.10 level across two trades totalling 5,000 shares.

GO plc was today’s most actively traded equity as it held the €2.72 level over nine deals totalling 40,472 shares.

APS Bank plc held its all-time low of €0.55 across six trades totalling 10,115 shares.

Bank of Valletta plc traded flat at the €1.21 level as 7,095 shares changed hands. 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.

BOV’s insurance associate – Mapfre Middlesea plc – also remained unchanged at the €1.27 level on a single trade of 1,774 shares.

HSBC Bank Malta plc held the €1.15 level over two trades totalling 8,818.

Also amongst large companies by market cap, Malta International Airport plc remained unchanged at the €5.50 level across three deals of 3,135 shares.

International Hotel Investments plc and Simonds Farsons Cisk plc closed unchanged at the €0.48 and €6.65 levels respectively on muted activity.

The RF MGS Index registered the largest daily uplift since July as it increased by 0.75% to a two-month high of 867.965 points. Eurozone sovereign bond yields continued to ease with the German 10-year bund yield touching a two-month low of 2.6%. In the US, producer prices fell by 0.5% in October when compared to the previous month, in contrast to an anticipated 0.1% increase. Meanwhile, retail sales marginally declined, but by a lower extent than expected. Elsewhere, in the UK, inflation dropped to a two-year low of 4.6% in October, compared to 6.7% in the previous two months.


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.