Daily Market Highlights (20.11.2023)

MSE Equity Price Index reaches fresh seven-month low


The MSE Equity Price Index fell by 0.37% to reach a fresh seven-month low of 3,566.387 points as the declines in BOV, Lombard, Trident and MaltaPost outweighed the gains in MIA, HSBC and Malta Properties. Total trading activity in local equities was muted at €0.08 million. Download today’s Equity Market Summary.

Bank of Valletta plc shed 3.2% to a one-month low of €1.20 level across four trades totalling 23,200 shares. BOV is now trading ex-dividend as shareholders as at the close of trading last Friday will receive a net interim dividend of €0.03 per share on Wednesday 6 December 2023.

Also in the banking sector, Lombard Bank Malta plc moved 0.7% lower to the €0.75 level, albeit over trivial volumes.

Trident Estates plc slumped by 4.8% to a one-month low of €1.19 on two deals of 9,567 shares.

MaltaPost plc declined by 1.9% to €0.53 on a single trade of 1,500 shares.

On the other hand, Malta International Airport plc gained 1.8% to regain the €5.60 level as 3,000 shares changed hands.

HSBC Bank Malta plc failed to hold onto an intra-day high of €1.19 (+3.6%) but still ended the session 0.9% higher at the €1.16 level across a total of 18,000 shares. .

Similarly, Malta Properties Company plc moved 1.2% higher to the €0.328 level on one deal of 5,000 shares.

Loqus Holdings plc rose by 13.3% to the €0.17 level on two trades totalling 2,969 shares.

The RF MGS Index reversed some of last week’s gains as it fell by 0.40% to 870.165 points notwithstanding a German Central Bank report indicating that the German economy is expected to shrink further in the upcoming quarter and recovery in the upcoming year will be weak. Nonetheless, the report also notes tentative signs of improvement in the economy such as high employment and the recent uptrend in new orders. Meanwhile last Friday, in the United States several Federal Reserve Officials converged on a patient approach to determine whether enough has been done to move inflation toward the 2% goal, signalling an intent to potentially leave rates unchanged until more evidence illustrating the direction of future inflation movements is available.


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.