Daily Market Highlights (16.09.2022)

BOV to tap international capital markets


The MSE Equity Price Index extended yesterday’s sharp drop as it retracted by a further 0.26% to 3,607.079 points. The declines in the share prices of Hili Properties and Mapfre Middlesea offset the uplift in APS whilst a further four companies traded unchanged. Most of today’s trading activity amounting to €0.1 million took place in the equity of GO plc which remained at the €3.04 level across 26,950 shares having a market value of €0.08 million. Download today’s Equity Market Summary.

Among the large companies by market value, Bank of Valletta plc stayed at the €0.86 level albeit on just 1,030 shares. Today, BOV announced that it has been granted regulatory approval in respect of a Base Prospectus for the issuance of a medium term Programme of Notes of up to €500 million. An application will be made for the Notes to be admitted to the official list and to trading on the regulated market of the Irish Stock Exchange. BOV explained that the net proceeds will be used to further strengthen the MREL and/or capital base of the Bank and/or its subsidiaries as well as for general financing purposes. Reaching such MREL level will allow BOV to increase its lending book and expand the investment horizon of its proprietary investments.

A single deal of 3,200 shares left the preference share price of RS2 Software plc at the €1.48 level.

MaltaPost plc traded unchanged at the €1.11 level on light volumes.

Low trading activity also took place in the equities of Hili Properties plc and Mapfre Middlesea plc. Hili Properties slumped by 8.3% to the €0.22 level whilst Mapfre Middlesea eased by 0.7% to the €1.50 level.

Meanwhile, APS Bank plc advanced by 1.2% to the €0.645 level as the equity turned ex-bonus. A total of 10,000 shares changed hands.

The RF MGS Index extended its negative trend as it eased by a further 0.14% to a fresh all-time low of 905.237 points. Sovereign bond prices in the euro area remained under downward pressure as inflation across the single currency block in August increased by more than expected when compared to the previous month. On the geopolitical front, Russia warned the US that if it were to supply Ukraine with longer-range missiles, it would cross a “red line” and become “party to the conflict”.


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.