Daily Market Highlights (20.07.2023)

PG plc climbs to 4-month high


The MSE Equity Price Index rebounded by 0.24% to 3,778.407 points as the increases in six equities outweighed the declines in MIA, IHI, MPC, and Lombard. Meanwhile, BOV closed unchanged as the total trading activity amounted to €0.22 million. Download today’s Equity Market Summary.

PG plc advanced by 3% to a 4-month high of €2.04 across two deals totalling 5,785 shares.

Simonds Farsons Cisk plc was today’s best performing equity as it increased by 3.7% to the €7.00 level as 2,000 shares changed hands.

Two deals totalling 3,000 shares pushed the share price of Trident Estates plc 3.2% higher to the €1.30 level.

BMIT Technologies plc added 2% to the €0.418 level on volumes totalling 10,000 shares.

MedservRegis plc moved 0.8% higher to the €0.655 level across three trades totalling 1,768 shares.

MIDI plc gained 0.8% to the €0.26 level across two trades totalling 30,000 shares. Today, MIDI announced on its website that it has submitted a full planning application for the development of Manoel Island. It explained that the development will consist of 323 residential units, reduced from 499 as approved in the original masterplan.

Also in the property sector, Malta Properties Company plc eased by 0.5% to the €0.408 level on two deals totalling 16,000 shares

Lombard Bank Malta plc fell by 2.2% to a 3-week low of €0.90 on four deals totalling 99,500 shares. Today, the 2,016,197 shares issued through the recent 1 for every 45 shares bonus share corporate action were admitted to listing.

Malta International Airport plc (7,290 shares) and International Hotel Investments plc (3,155 shares) both moved 0.9% lower to the €5.55 and €0.545 levels respectively.

Bank of Valletta plc closed unchanged at the €1.24 level after recovering from an intraday low of €1.23 (-0.8%) across volumes totalling 29,850 shares.

The RF MGS Index reversed yesterday’s gains as it dropped 0.57% to 872.834 points.  The increase in MGS yields was analogous to the rise in eurozone sovereign bond yields as grain prices continue to surge in response to the tensions between Russia and Ukraine. Today, Russia reportedly threatened to treat ships heading for Ukrainian ports as miliary cargo carriers. Meanwhile in the United States, the heated labour market persisted as the initial jobless claims last week fell to a two-month low of 228,000, lower than forecasts of 242,000.


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.