Daily Market Highlights (23.01.2023)

MedservRegis awarded another contract in Cyprus

The MSE Equity Price Index advanced by 0.92% to 3,556.601 points as the gains in five equities outweighed the decline in the share price of APS. Meanwhile, four other equities remained unchanged as overall trading activity in equities amounted to €0.06 million. Download today’s Equity Market Summary.

Today’s main highlight across the local equity market was the announcement of MedservRegis plc which noted that its subsidiary, Medserv Cyprus Limited, has been awarded a new contract by Chevron Cyprus Limited for the provision of operational base support services from the MedservRegis facilities in the port of Limassol, Cyprus. In October 2022, MedservRegis had announced that it extended its contract with TotalEnergies for the provision of operational base support services at the same port to June 2023.  The equity remained inactive today.

Malta International Airport plc continued to trade in a tight range as it gained 0.9% to the €5.65 level across two deals totalling 1,750 shares. Last week, MIA announced that it aims to achieve passenger movements of 6.3 million in 2023 (7.7% growth from 2022 and representing 86% recovery of pre-pandemic traffic in 2019). MIA expects to generate revenues of €97 million in 2023 (2019: €100.2 million), EBITDA of €59 million (2019: €63.2 million), and net profit of €29 million (2019: €33.9 million). The company should shortly announce the date of publication of its 2022 annual financial statements.

Also among the large companies by market value, International Hotel Investments plc snapped its recent negative run as it rebounded by 4.3% to the €0.605 level on a single trade of 16,325 shares.

Bank of Valletta plc climbed 3.3% to the €0.93 level across volumes totalling 20,000 shares.

Also in the retail banking sector, HSBC Bank Malta plc gained 0.7% to the €0.74 level albeit on muted volumes.

Loqus Holdings plc moved 0.5% higher to the €0.19 level as 20,364 shares changed hands.

The only negative performing equity today was APS Bank plc as it eased 0.8% to the €0.60 level across two trades totalling 9,925 shares.

A single trade of 15,100 shares left AX Real Estate plc at the €0.54 level.

Malta Investments plc (240 shares) and Malta Properties Company plc (2,500 shares) also remained at the €0.60 and €0.452 levels respectively.

PG plc retained the €2.06 level on one deal of 2,466 shares.

The RF MGS Index extended last Friday’s drop as it shed a further 0.57% to 887.747 points reflecting the increase in eurozone sovereign bond yields amid expectations that the ECB will proceed with multiple rate hikes in the months ahead. Indeed, the Euro currency extended its recent gains against the US Dollar and reached a 9-month high of USD1.09 after it was reported that the ECB governing council member Klaas Knot said that the central bank was set to increase interest rates by 50 basis points in both February and March and would continue to raise rates in the months afterwards.


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.