Daily Market Highlights (18.09.2023)

MSE Equity Price Index drops to 3-month low


The MSE Equity Price Index declined by 0.57% to a three-month low of 3,676.198 points as the declines in MIA and LifeStar Insurance outweighed the gains in HSBC. Meanwhile, two other equities closed unchanged as trading activity remained lacklustre. Download today’s Equity Market Summary.

Malta International Airport plc shed 2.6% to an over one-month low of €5.55 across two trades totalling 500 shares.

LifeStar Insurance plc moved 60% lower to a one-year low of €0.20, albeit on trivial volumes.

In contrast, HSBC Bank Malta plc advanced by 1.8% to the €1.15 level after failing to hold an intra-day high of €1.18 (+4.4%) across four deals totalling 14,452 shares.

Bank of Valletta plc closed unchanged at the €1.24 level after recovering from an intraday low of €1.23 (-0.8%) across five trades totalling 14,055 shares.

Also in the banking sector, APS Bank plc held the €0.60 level on a single trade of 2,522 shares.

Today, Lombard Bank Malta plc published a presentation which includes an overview of the company’s structure, its strategic objectives, and the key targets following the anticipated capital injection through a 2-for-3 Rights Issue. The rights issue price has been set at €0.75 per new ordinary share and will be first offered to shareholders as at the close of trading on Friday 15 September 2023.

The RF MGS Index declined by 0.35% to a two-month low of 862.907 points largely driven by the drop in CBM Bid Prices for longer-term MGS, reflecting higher yields. Similarly, across the eurozone sovereign bond market, yields for longer-dated securities continued to climb with the German 20-year bund yield increasing to just below the 2.9% level, the highest level in over 10 years. The recent oil supply cuts from Saudi Arabia and Russia as well as a recovery of the Chinese economy following recent stimulus measures continued to fuel inflation concerns across other major economies.


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.