Daily Market Highlights (17.02.2023)

Heightened trading activity across banking equities


The MSE Equity Price Index posted a three-day losing streak as it eased by 0.51% to 3,599.920 points as the declines in APS, MIA, IHI, and MPC outweighed the gains in HSBC. Meanwhile, BOV closed unchanged as overall trading activity amounted to €0.26 million. Nonetheless, the MSE Equity Price Index remained virtually unchanged during the week as the losses of the past three days were offset by the gains registered during the first two sessions of the week. Download today’s Equity Market Summary.

Most of today’s trading took place in the shares of HSBC Bank Malta plc with 157,674 shares changing hands across six deals having a market value of €0.15 million. The share price climbed by 1.1% to the €0.94 level. HSBC’s Board of Directors is scheduled to meet on Tuesday 21 February 2023 to consider and approve the 2022 annual financial statements. The Directors will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting which will be held on Thursday 20 April 2023.

The shares of Bank of Valletta plc also saw notable trading activity as 83,000 shares changed hands. BOV held on to the €0.94 level after recovering from a low of €0.925 (-1.6%).

Also in the local retail banking sector, APS Bank plc fell by 3.3% to the €0.59 level across six trades totalling 13,476 shares.

Malta International Airport plc eased by 0.9% to the €5.65 level on two trades totalling 2,984 shares. MIA’s Board of Directors is scheduled to meet on Wednesday 22 February 2023 to consider and approve the financial statements for the financial year ended 31 December 2022. The Directors will also consider the declaration of a dividend.

Three deals totalling 15,450 shares pulled the share price of Malta Properties Company plc 1.7% lower to the €0.452 level.

International Hotel Investments plc lost 3.2% to the €0.60 level across two trades totalling 2,193 shares.

The RF MGS Index eased by 0.09% to 876.993 points with the eurozone yields remaining highly volatile during the day with the German 10-year bund yield reaching a high of 2.55% but dropped to the 2.45% level in the afternoon. The German annual producer price inflation dropped to 17.8% in January, compared to 21.6% in the previous month, which in turn marks the lowest level since September 2021 but the figure was higher than market expectations of 16.4%. Meanwhile, the French annual inflation rate increased to 7% in January in line with expectations, but higher than the previous month.

Yesterday, the Treasury Department established the prices for the two new Malta Government Stocks as follows:(i) 3.50% MGS 2028 (VI) at 101.25% for every €100 nominal giving a yield-to-maturity of 3.2434% per annum; and (ii) 4.00% MGS 2043 (I) at 100.00% for every €100 nominal giving a yield-to-maturity of 3.9996% per annum. The total aggregate amount is of €200 million subject to an over-allotment option of up to a further €150 million. The General Public has the possibility of applying for these stocks in multiples of €100 and up to a maximum of €499,900 (nominal) per person. Subscriptions open on Monday 20 February 2023 and close on Wednesday 22 February 2023 at 14:30hrs or earlier at the discretion of the Accountant General. For applications in excess of €499,900 (nominal), a tendering process applies.


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.