Daily Market Highlights (21.06.2023)

MSE Equity Price Index declines on muted activity


The MSE Equity Price Index went down by 0.41% to 3,716.984 points reflecting the declines of BOV and APS. Meanwhile, MIA, the ordinary shares of RS2 and Malita closed unchanged, as total trading activity was muted at a six-week low of €0.04 million. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity for the second consecutive session as it shed 1.6% to the €1.21 level on two trades totalling 11,500 shares.

Also within the banking sector, APS Bank plc dropped by 2.4% to the €0.60 level as 7,472 shares changed hands.

Malta International Airport plc traded flat at the €5.50 level across six trades totalling 2,081 shares.

The ordinary shares of RS2 Software plc closed unchanged at the €1.22 level after recovering from an intraday low of €1.20 (-1.6%) across two deals totalling 4,356 shares.

Similarly, Malita Investments plc closed unchanged at the €0.60 level after recovering from an intraday low of €0.59 (-1.7%) on volumes totalling 8,250 shares.

Yesterday, AX Real Estate plc announced that its Board of Directors are scheduled to meet on Monday 26 June 2023 to consider and approve the financial results for the six-month period ended 30 April 2023. The Directors will also consider the declaration of an interim dividend.

The RF MGS Index erased most of yesterday’s loss as it gained 0.11% to 872.667 points. The consumer price inflation (CPI) in the UK remained unchanged at 8.4% in May, despite expectations of the CPI to move lower to 8.4%. Data showed that the increase in prices of air travel, recreational goods and services and second-hand cars offset the decline in prices of fuel and food. Furthermore, core inflation, which excludes food, energy and tobacco prices, increased to 7.1% in May, the highest level since 1992. The Bank of England is expected to announce a further rate hike tomorrow. Meanwhile in the US, today Federal Reserve Chairman Jerome Powell stated that while it was prudent to pause rate hikes at the most recent monetary policy meeting, the effects of the tightened monetary policy will take time to be realised and the Fed may even need to increase rates further in the upcoming meetings.


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.