Daily Market Highlights (20.06.2022)

APS share price surges on 1st day of trading


The MSE Equity Price Index advanced by 1.37% to a two-week high of 3,767.808 points as the gains in APS, BOV, HSBC, Medserv and M&Z offset the declines in six other companies. Meanwhile, MIA and MaltaPost closed the day unchanged as trading activity in equities climbed to an 18-month high of €0.82 million. Download today’s Equity Market Summary.

The majority of today’s activity took place in the equity of APS Bank plc which rallied by 8.1% on its first day of trading to the €0.67 level (compared to the IPO price of €0.62) after opening at a high of €0.70 (+12.9%). A total of 801,538 shares having a market value of €0.55 million changed hands.

Also in the banking sector, Bank of Valletta plc gained 2.2% to a 7-week high of €0.94 across six deals totalling 18,500 shares.

Positive sentiment also emerged towards HSBC Bank Malta plc which rebounded by 4.7% to the €0.785 level on a total of 18,700 shares.

Following the termination of suspension of trading, the share price of MedservRegis plc rallied by 41.4% to the €0.99 level on activity totalling 140,000 shares albeit most of the trades took place at €0.70. Last week, MedservRegis published its annual results for the 2021 financial year which include the twelve-month performance of Regis and the six-month contribution of Medserv. MedservRegis recorded revenues of almost €30 million and an adjusted EBITDA of €5.3 million reflecting the Group’s activities in the Mediterranean basin, the Middle East and Sub-Sahara Africa. In their commentary, the Directors explained that MedservRegis is actively positioning itself for growth in various new significant developing energy markets, particularly in Africa and the Caribbean region. Moreover, MedservRegis is experiencing an increasing number of opportunities within its core ILSS and OCTG competencies for organic growth as well as opportunities of a strategic nature allowing the Group to unlock value in the supply chain and be part of the industry transition.

The other positive performing equity today was M&Z plc which advanced by 2% to regain the €0.77 level across 65,000 shares.

In contrast, PG plc eased by 1.8% to the €2.18 level on a total of 15,900 shares. The Board of Directors of PG is scheduled to meet on 28 June to consider the distribution of an interim dividend for the financial year ended 30 April 2022.

The preference shares of RS2 Software plc dropped by 2.6% to an all-time low of €1.50 on 6,000 shares.

Also in the technology sector, Harvest Technology plc retracted by 0.7% to the €1.48 level albeit on trivial volumes.

Low trading activity also took place in the equity of Tigné Mall plc which plunged by 7.1% to the €0.65 level.

A single deal of 9,662 shares forced the share price of Santumas Shareholdings plc to move 13% lower back to the €1.00 level.

FIMBank plc dropped by 4.5% to the USD0.21 level across 16,000 shares.

Meanwhile, Malta International Airport plc stayed at the €5.95 level on a total of 4,200 shares.

MaltaPost plc also traded flat at the €1.00 level across 2,195 shares.

The RF MGS Index moved higher for the third consecutive day as it climbed by 0.21% to 930.423 points. Sovereign bond yields in the euro area drifted lower as the President of Eurogroup opined that the single currency economy is in a much stronger position that a decade ago and that the robust labour market and the EU’s recovery plan will continue to sustain economic expansion. Elsewhere, Germany announced that it will take emergency measures to cut its reliance on Russian gas supplies, including restarting coal-fired power plants for a “transitional period”. The initiatives are aimed at restoring stability in energy supplies ahead of the upcoming winter months.


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.