Daily Market Highlights (19.07.2022)

Several equities trend lower


The MSE Equity Price Index moved lower for the third consecutive day as it slipped by a further 0.7% to 3,685.961 points. Five companies ended the day in negative territory including BOV, GO and APS, whilst HSBC and Farsons closed unchanged. Overall trading activity in equities improved to €0.11 million compared to €0.05 million yesterday. Download today’s Equity Market Summary.

GO plc shed 2% back to the €3.00 level across 2,060 shares. Today, GO announced that it entered into an agreement pursuant to which it will increase its shareholding interest in Cablenet Communications Systems plc (which is GO’s subsidiary in Cyprus) to 70.22% from 63.38% for a total consideration of €5.75 million. The agreement also gives GO the options to acquire the remaining equity in Cablenet in the next three years.

Also among the large companies by market value, Bank of Valletta plc lost 3.3% to the €0.89 level across 7,000 shares.

Within the same segment, APS Bank plc moved 1.5% lower to the €0.65 level on a total of 122,000 shares having a market value of €0.08 million. The Bank is due to publish its interim results on 28 July.

PG plc eased by 0.9% back to the €2.14 level on 5,000 shares.

Two deals totalling 2,060 shares forced the share price of Malta Properties Company plc to drop by 1.4% to the €0.498 level.

Low trading activity also took place in the equity of HSBC Bank Malta plc which stayed at the €0.785 level.

Simonds Farsons Cisk plc traded flat at the €7.45 level across 1,230 shares.

The RF MGS Index extended yesterday’s sharp drop as it eased by a further 0.05% to 938.279 points. Sovereign bond yields in the euro area trended higher amid expectations that the European Central Bank will be more aggressive in tightening its monetary policy during the upcoming monetary policy meeting to be concluded on Thursday. Meanwhile, a survey conducted by the ECB in relation to lending conditions across the single currency block showed that despite the overall strong underlying demand for loans, access to credit continued to tighten as risks to the economic outlook increased markedly whilst banks also adopted a more prudent approach to risk tolerance. Going forward, the survey also showed that further tightening in lending conditions is expected to take place in Q3 2022, albeit to a lesser extent than that experienced during the previous quarter.


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.