Daily Market Highlights (18.07.2023)

GO increases interim dividend


The MSE Equity Price Index advanced by 0.30% to an over one-year high of 3,787.731 points. The gains in PG, MIA and GO outweighed the declines in AX Real Estate, Hili Properties, Plaza, Tigne Mall and Lombard. Meanwhile four equities closed unchanged as the total trading activity was muted at €0.11 million. Download today’s Equity Market Summary.

GO plc recovered yesterday’s losses as it surged by 6.4% to the €3.00 level across four trades totalling 11,000 shares. Today, GO announced that the company’s Board of Directors resolved to distribute a net interim dividend of €0.07 per share, which is 16.7% higher than the corresponding interim dividend of €0.06 per share paid out in September 2022. Shareholders of GO as at close of trading on Monday 24 July 2023 will be entitled to receive the dividend, which is payable on Monday 7 August 2023.

Furthermore, among the large companies by market value, Malta International Airport plc, moved 1.8% higher to the €5.60 level on two trades amounting to 1,965 shares. Today, Malta International Airport plc announced that its Board of Directors is scheduled to meet on Wednesday 1 August 2023 to consider and approve the interim financial statements for the period ended 30 June 2023. The Directors will also consider the declaration of an interim dividend.

PG plc gained 1% to close at the €1.98 level over five deals totalling 11,215 shares.

Lombard Bank Malta plc moved 1% lower to €0.92 compared to yesterday’s bonus share adjusted price of €0.929. Lombard shareholders as at close of trading yesterday will receive a bonus share for every forty-five shares held. The new shares will be allotted on 20 July.

Similarly, Hili Properties plc failed to hold onto yesterday’s gains as it shed 3.2% to the €0.24 level on a single trade of 15,000 shares.

Also in the property sector, AX Real Estate plc eased by 0.4% to the €0.49 level as 16,701 shares changed hands.

Tigne Mall plc was today’s worst market performer as it slumped by 20.2% to an eleven-month low of €0.67, albeit on a single trade of 4,800 shares.

ing mall equity, Plaza Centres plc declined by 9.5% to a one-month low of €0.67 on muted activity.

Meanwhile, Bank of Valletta plc (8,000 shares) and Simonds Farsons Cisk plc (1,502 shares) held their price levels of €1.24 and €6.75 respectively.

HSBC Bank Malta plc held yesterday’s high at the €1.25 level on a single trade of 5,235 shares.

Similarly, MIDI plc traded flat at the €0.258 level as 7,000 shares changed hands.

The RF MGS Index gained 0.55% to a two-week high of 873.311 points. Eurozone sovereign bond yields were highly volatile during the day, with the German 10-year bund yield touching a high of 2.45% but dropping to the 2.35% level in the afternoon. Likewise in the US, the 10-year Treasury note yield touched a two-week low of 3.76% amid expectations that the Federal Reserve will soon end its tightening cycle. Nonetheless, the Federal Funds Rate is expected to be increased by a further 25 basis points next week.


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.