Daily Market Highlights (16.06.2022)

BOV & Lombard move strongly higher


The MSE Equity Price Index resurfaced above the 3,700 mark as it advanced by 0.6% to 3,705.567 points. The strong uplifts in BOV and Lombard outweighed the declines in RS2, GO and MPC whilst HSBC, BMIT and AX Real Estate closed the day unchanged. Overall trading activities in equities improved to €0.26 million compared to just €0.03 million yesterday. Download today’s Equity Market Summary.

Bank of Valletta plc was again the most actively traded equity today as it surged by 7.5% to the €0.935 level on a total of 109,252 shares having a market value of €0.1 million.

The other positive performing equity today was Lombard Bank Malta plc as it advanced by 3.8% to recapture the €1.90 level across 38,676 shares.

Within the same sector, HSBC Bank Malta plc stayed at the €0.75 level after opening at a high of €0.79 (+5.3%). A total of 90,000 shares changed hands.

BMIT Technologies plc and AX Real Estate plc traded flat at €0.47 and €0.55 respectively albeit on light volumes.

Low trading activity also took place in the ordinary shares of RS2 Software plc which trended 4.3% lower to the €1.55 level.

Also among the large companies by market value, GO plc eased by 0.7% to the €3.04 level on 1,000 shares.

Meanwhile, Malta Properties Company plc dropped by 4.1% to a 17-month low of €0.494 across 19,000 shares.

The RF MGS Index trended higher for the first time in nearly three weeks as it rebounded by a minimal 0.09% to 926.839 points. Yesterday, the US Federal Reserve raised interest rates by 75 basis points (the sharpest uplift since 1994) to a range between 1.5% and 1.75%. The central bank also indicated that it expects to continue increasing its key interest rate in the coming months to at least bring it to 3% by the end of this year. Elsewhere, today the Bank of England also raised its key interest rate by 25 basis points 1.25%.


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.