Daily Market Highlights (23.05.2023)

BOV dominates trading activity


The MSE Equity Price Index moved lower for the second consecutive session as it fell by a further 0.25% to a three-week low of 3,641.959 points as gain in APS was outweighed by the declines in HSBC, Lombard, and MIA. Download today’s Equity Market Summary.

Most of today’s trading took place across the shares of Bank of Valletta plc. BOV traded flat at the €1.09 level across volumes totalling 73,650 shares, representing 66% of today’s value of equities traded. BOV will be holding its Annual General Meeting on Thursday 25 May.

BOV’s insurance associate – Mapfre Middlesea plc – remained at the €1.50 level on two trades totalling 1,580 shares.

Malta International Airport plc moved 0.9% lower back to the €5.50 level across three deals totalling 2,735 shares.

HSBC Bank Malta plc shed 0.9% to the €1.09 level on two trades totalling 10,175 shares.

Also within the banking sector, a single deal of 1,346 shares pulled the share price of Lombard Bank Malta plc down by 6.9% to the €0.95 level.

In contrast, APS Bank plc rebounded by 1.7% to the €0.60 level across four trades totalling 17,950 shares.

The RF MGS Index shed 0.27% to 870.079 points reflecting the continued upward movement across eurozone yields. Preliminary estimates showed that the private sector within the eurozone continued to expand in May, albeit at a lower pace than the previous two months. The growth was driven by the services sector, while manufacturing activity remained in contraction territory. Data in the US showed even stronger growth within the private sector as the services sector accelerated at the fastest pace in 13 months. Elsewhere in the UK, a note published by the International Monetary Fund suggested that the UK economy is likely to avoid a recession in 2023 on the basis of a resilient demand, despite the very high inflation levels.


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.