Daily Market Highlights (21.06.2022)

IHI drags the MSE Equity Price Index Lower


Following yesterday’s strong uplift of 1.4%, during today’s trading session the MSE Equity Price Index retracted by 2.2% to 3,686.410 points reflecting the sharp drop in IHI albeit on light volumes. BOV also ended the day in negative territory whilst Lombard, MPC and Farsons trended higher. Meanwhile, six companies closed unchanged as overall trading activity in equities contracted to €0.16 million compared to €0.82 million yesterday which was the highest level in 18 months. Download today’s Equity Market Summary.

International Hotel Investments plc tumbled over 20% to the €0.59 level albeit on just 10,000 shares.

A single deal of 2,000 shares forced the share price of Bank of Valletta plc to move 0.5% lower to the €0.935 level.

Also in the retail banking sector, APS Bank plc maintained the €0.67 level after recovering from an intra-day low of €0.65 (-3%). A total of 204,748 shares changed hands having a market value of €0.14 million.

Among the large companies by market value, Malta International Airport plc (1,236 shares) and GO plc (487 shares) traded flat at €5.95 and €3.04 respectively.

The preference shares of RS2 Software plc stayed at the €1.50 level across 1,500 shares.

Harvest Technology plc held on to the €1.48 level after opening at a low of €1.20 (-18.9%). A total of 4,950 shares traded.

Elsewhere, Lombard Bank Malta plc advanced by 1.3% to the €1.90 level from its pre-bonus adjusted price of €1.875 across 1,300 shares.

Malta Properties Company plc and Simonds Farsons Cisk plc also ended the day in positive territory albeit on insignificant volumes. MPC added 1.2% to recapture the €0.50 level whilst Farsons advanced by 2.1% to the €7.35 level.

The RF MGS Index snapped a three-day positive streak as it dropped by 0.35% to 927.192 points. Yesterday, the governor of the Bank of France reiterated how the new instrument to be adopted by the ECB to address financial fragmentation within the euro area will ensure the protection of the euro as a currency and also promote price stability. Meanwhile, in her address to the European Parliament Committee on Economic and Monetary Affairs, ECB President Christine Lagarde explained that even though economic activity is facing headwinds due to high energy costs and supply disruptions, the services sector and the strong labour market dynamics are supporting growth and are expected to continue contributing to the resiliency of the single currency economy.

Today, Pendergardens Developments plc announced that it will be redeeming the 6% secured bonds upon maturity on 29 July 2022.


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.