Daily Market Highlights (20.10.2023)

BOV to consider payment of interim dividend


The MSE Equity Price Index grew by 0.26% to 3,608.337 points driven by the gains in BOV, PG, and Malta Properties. Meanwhile, three other equities closed today’s session unchanged as the total trading activity amounted to €0.1 million. Download today’s Equity Market Summary.

Bank of Valletta plc moved 0.8% higher to €1.22 across ten trades totalling 45,747 shares. Today, BOV announced that its Board of Directors is scheduled to meet next Thursday 26 October 2023 to consider the payment of an interim dividend.

PG plc advanced by 2.0% to a two-week high of €2.00 albeit on a single trade of 1,500 shares.

Malta Properties Company plc also ended 2.0% higher at a one-month high of €0.40 after recovering from an intraday low of €0.39 (-0.5%). A total of 6,000 shares changed hands across three deals.

Malita Investments plc traded flat at the €0.50 level over six trades amounting to 14,000 shares.

Likewise, Malta International Airport plc closed unchanged at the €5.50 level after recovering from an intra-day low of €5.45 (-0.9%) across five trades totalling 3,240.

APS Bank plc held on to the €0.59 level over six deals comprising 28,080 shares.

The RF MGS Index snapped a five-day negative streak today as it gained 0.24% to 843.373 points but still recorded the sharpest weekly decline (-1.35%) since the start of the year. This week’s decline reflects surging international bond yields, with the 10-year US yield reaching the 5% level for the first time since 2007, on the back of persistent inflation. This was again highlighted yesterday by the Chair of the US Federal Reserve, Jerome Powell, as he remarked that inflation is still too high and that the current downtrend in inflation is not a clear indicator of the Federal Reserve’s progress towards its goal of 2% thereby leaving open the potential for further monetary policy tightening depending on how the US economy performs.


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.