Daily Market Highlights (23.09.2022)

BOV climbs to 8-week high on heightened volumes


The MSE Equity Price Index advanced by 0.73% to 3,661.170 points as the gains in BOV, MIA and the ordinary shares of RS2 outweighed the declines in GO and MPC. Meanwhile, four other equities closed the session unchanged as overall activity in equities improved to a 3-week high of €0.31 million. Download today’s Equity Market Summary.

Bank of Valletta plc was the best performing and most actively traded equity today as it surged 5.1% to an eight-week high of €0.925. A total of 219,143 shares changed hands having a market value of €0.20 million.

Also among the large companies by market value, Malta International Airport plc climbed 0.8% to regain the €6.00 level on a single trade of 2,100 shares. Yesterday, Ryanair launched its winter schedule with a record 55 routes operating to and from Malta. Ryanair is forecasting a total of 3 million passenger movements during 2023 compared to 2.8 million in 2019.

A single trade of 427 shares pushed the ordinary shares of RS2 Software plc 1.5% higher to the €1.38 level.

GO plc eased by 0.7% to the €3.02 level on volumes of 16,540 shares.

Malta Properties Company plc fell 2.8% to the €0.515 level on one deal of 5,000 shares.

Lombard Bank Malta plc traded flat at the €1.95 level on two trades totalling 15,000 shares. Last Tuesday, Lombard expressed its intention to tap the local capital market for the purpose of issuing new shares. In this respect, Lombard will be holding an Extraordinary General Meeting on 10 November with a view of obtaining the necessary approval from shareholders as at close of trading on 7 October.

Within the same sector, APS Bank plc held the €0.64 level as 5,000 shares changed hands.

Simonds Farsons Cisk plc closed unchanged at the €7.95 level after opening at a low of €7.80 (-1.9%) across four trades totalling 1,600 shares.

International Hotel Investments plc remained at the €0.705 level on muted volumes.

Meanwhile, the RF MGS Index posted a three-day losing streak as it lost a further 0.20% to 896.386 points. The eurozone composite PMI fell for the third consecutive month in September, adding fears of a recession. Meanwhile, the price of oil dropped to the lowest level in eight months amid a worsening global economic outlook.


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.