Daily Market Highlights (21.03.2022)

MSE Equity Price Index drops to near 16-month low


The MSE Equity Price Index opened the week in negative territory as it shed 0.63% to a near 16-month low of 3,650.512 points. Several equities trended in negative territory whilst only MPC and BMIT ended the day higher. Meanwhile, GO plc traded unchanged at the €3.22 level across 13,250 shares. Overall trading volumes remained subdued as only €0.12 million worth of shares changed hands. Download today’s Equity Market Summary.

Bank of Valletta plc eased by 2.5% back to its multi-year low of €0.77 across 10,078 shares. The Bank is due to publish its 2021 full-year results tomorrow.

Also among the large companies by market value, Malta International Airport plc dropped by 0.9% to the €5.80 level albeit on light volumes.   

Simonds Farsons Cisk lost 4.3% to an over five-month low of €7.85 on just 350 shares.

The preference shares of RS2 Software plc retracted by 0.6% to the €1.68 level on 2,900 shares.

A single deal of 6,000 shares forced the share price of AX Real Estate plc to drop by 1.7% to the €0.58 level.

The other negative performing equity today was Malita Investments plc as it slipped by 4.5% to an over one-month low of €0.75 across 28,000 shares. Last Friday, Malita reported a slight decrease in operating profit in 2021 to €8.11 million largely reflecting the lower amount of ground rent received the Valletta Cruise Port site in the context of the drop in passenger movements and cruise liner visits as a result of the pandemic. On the other hand, the financial performance of the company was negatively impacted by the adverse movements in the fair value of its investment properties largely due to the increase in the yield-to-maturity on the longest dated Malta Government Stock. Overall, Malita reported a loss after tax of €20 million compared to the net profit of €9.54 million recorded in the 2020 financial year. The Directors are recommending the payment of an unchanged final net dividend of €0.0142 per share to all shareholders as at the close of trading on Friday 13 May.

Meanwhile, Malta Properties Company plc advanced by 1.9% to recapture the €0.54 level albeit on shallow volumes. Today, MPC announced that it concluded the acquisition of the ‘Mediterranean Building’ office complex located in Ta’ Xbiex. MPC explained that the consideration price of €8.75 million that was originally agreed upon was reduced to €8.575 million.

Similarly, BMIT Technologies plc added 2.1% to the €0.496 level across 70,000 shares.

The RF MGS Index slipped by 0.22% to 1,032.960 points as financial markets continued to monitor the evolving situation in Ukraine. The Ukrainian Deputy Prime minister stated that “there can be no talk of surrender” following Russia’s demand that Ukrainian forces surrender the port city of Mariupol. Meanwhile, Russia’s spokesman Dmitry Peskov said that progress in peace talks is “less than we would like” whilst reiterating that Ukraine is adopting delaying tactics to the process.


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.