Daily Market Highlights (16.11.2023)

Over 50% take-up in RS2 scrip dividend


The MSE Equity Price Index eased by 0.28% to a fresh six-month low of 3,568.459 points as the declines in MIA, IHI, MZ and Malta Properties outweighed the gains in the ordinary shares of RS2 and APS. Meanwhile, three other equities closed unchanged as the trading activity in local equities amounted to €0.13 million. Download today’s Equity Market Summary.

The ordinary shares of RS2 plc extended yesterday’s gains by 6.4% to the €1.17 level across three trades totalling 30,000 shares. The ordinary shares recovered from an intra-day low of €1.01 (-8.2%). Today, the Malta Stock Exchange announced the admission of 1,313,974 ordinary shares and 28,320 preference shares of RS2 plc to the Official List, pursuant to a scrip dividend issue. The scrip dividend take-up amounted to 56.6% and 27.7% for the ordinary shares and preference shares, respectively.

APS Bank plc surged 3.6% to the €0.57 level over fourteen deals for a total of 50,321 shares.

On the other hand, Malta International Airport plc shed 3.6% to an almost three-year low of €5.30 as 5,294 shares changed hands.

Also amongst the large companies by market cap, International Hotel Investments plc moved 4.2% lower to an almost three-week low of €0.46, albeit on a single trade of 5,000 shares.

Malta Properties Company plc slumped 14.7% to an all-time low of €0.324 on two trades amounting to 5,600 shares.

Similarly, M&Z plc also closed at an all-time low as it declined by 6.3% to the €0.60 level on one deal of 50,000 shares.

Meanwhile, BMIT Technologies plc traded flat at the €0.41 level as 10,000 shares changed hands.

HSBC Bank Malta plc and AX Real Estate plc held the €1.15 and €0.48 levels respectively on muted activity.

Bank of Valletta plc shareholders as at the close of trading tomorrow will receive a net interim dividend of €0.03 per share on Wednesday 6 December 2023.

Today, the Malta Stock Exchange announced the admission and listing of 61.8 million ordinary shares of Lombard Bank Malta plc subsequent to the recent rights issue. Trading in these shares will commence tomorrow.

Today, MedservRegis plc announced that, pursuant to the approval by shareholders of the related resolutions at the extraordinary general meeting held earlier today, the share premium account of the company will be initially reduced by €28.6 million to offset accumulated losses as at 31 December 2022. The company will also effect a further reduction of €2.1 million from the same reserve, with the reduction being transferred to a new reserve to be called ‘Loss Offset Reserve’, in order to offset any future losses that may be incurred.

The RF MGS Index reversed some of yesterday’s gains as it moved 0.13% lower to 866.854 points. In the United States, the 10-year treasury yield hovered around a 2-month low of 4.45% following published data which illustrated continued easing in the labour market. In fact, the number of Americans filing for unemployment during the past week was the highest in almost three months, rising much more than expected. Furthermore, continuing unemployment claims also rose more sharply than anticipated to an almost two-year high.


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.