Daily Market Highlights (23.05.2022)

BOV and BMIT drag the MSE Equity Price Index lower


The MSE Equity Price Index moved lower for the third consecutive session as it lost 0.12% to 3,707.889 points. The declines in BOV and BMIT outweighed the gain in GO while another four equities closed unchanged. Trading activity was muted at just €0.02 million. Download today’s Equity Market Summary.

Bank of Valletta plc extended recent losses as it dropped by another 1.1% to an over 2-week low of €0.88 across 6,252 shares.

Two trades totalling 10,800 shares pulled the share price of BMIT Technologies plc 1.3% lower to the €0.47 level.

BMIT’s parent company – GO plc – was today’s only positive performing equity as it climbed by 0.6% to the €3.22 level on one deal of 1,000 shares.

The ordinary shares of RS2 Software plc held the €1.64 level after recovering from an intraday low of €1.59 (-3%). A total of 3,030 shares changed hands.

Similarly, Malta International Airport plc closed unchanged at the €5.90 level after opening at €5.75 (-2.5%) as 650 shares changed hands.

Hili Properties plc traded flat at the €0.25 level across 4,550 shares.

Also in the property sector, AX Real Estate plc remained at the €0.55 level on trivial volumes. Today, AX Real Estate (“AXRE”) published an updated financial analysis summary. The financial performance of AXRE is expected to remain largely in line with projections published in the IPO Prospectus dated 6 December 2021 with an operating profit of €7.4 million forecasted for FY2021/22. AXRE is expected to end the current financial year to 31 October 2022 with €286.6 million in assets and an equity position of €138 million. The forecasts also show a dividend distribution of €0.0246 per share for FY2021/22, in line with IPO forecasts of a 4.1% net dividend yield based on the IPO price of €0.60 per share.

The RF MGS Index eased by 0.06% to 985.070 points reflecting an increase in MGS yields towards the longer end of the yield curve. Today, ECB President Christine Lagarde indicated that the ECB will continue to pursue its monetary policy normalization by increasing borrowing costs by the end of September 2022. The ECB deposit rate has been in negative territory since 2014 and is now expected to be at zero by the end of the third quarter this year.


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.