Daily Market Highlights (20.09.2023)

Four equities pull MSE Equity Price Index lower


The MSE Equity Price Index moved 0.11% lower to 3,692.237 points as the declines in BOV, MIA, RS2 and BMIT outweighed the gains in HSBC and IHI. Meanwhile, three other equities closed unchanged as overall trading activity in local equities amounted to €0.13 million. Download today’s Equity Market Summary.

RS2 plc was today’s worst market performer as it slumped by 3.9% to a twelve-week low at the €1.23 level on two trades totalling 8,000 shares. RS2 partially recovered from an intra-day low of €1.15 (-10.2%).

Malta International Airport plc declined by 1.8% to the €5.60 level. MIA was today’s most actively traded equity as 7,290 shares changed hands over three deals.

Similarly, BMIT Technologies plc moved 1.0% lower to €0.41 failing to hold onto an intra-day high of €0.42 (+1.4%) across six trades totalling 64,500 shares. BMIT will be holding an Extraordinary General Meeting on 25 September to consider the transaction related to cellular towers with GO plc.

Also among large companies by market cap, Bank of Valletta plc shed 0.8% to the €1.25 level across three trades totalling 16,576 shares.

On the other hand, HSBC Bank Malta plc surged by 4.3% to a one-week high of €1.20 over three deals amounting to 16,380 shares.

International Hotel Investments plc advanced by 1.0% to €0.51 on a single trade of 1,100 shares.

Malita Investments plc traded flat at the €0.59 level across two deals totalling 20,000 shares.

Santumas Shareholdings plc and LifeStar Holding plc both closed unchanged at the €1.28 and €1.00 levels respectively on muted activity.

The RF MGS Index moved lower for the third consecutive trading day as it declined by 0.18% to an all-time low of 860.356 points. Today, data released by the Office for National Statistics showed that in August, inflation in the United Kingdom declined for the sixth consecutive month to 6.7%. The unexpected 0.1 percentage point decrease from July was driven by slower increases in the cost of food.  Meanwhile, later today, the Federal Open Market Committee is set to conclude its monetary policy meeting where it is widely expected to leave the current target federal funds rate implemented last July unchanged, at 5.25%-5.50%. The Committee is also anticipated to provide guidance on the possibility of another interest rate hike by the end of the year.


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.