Daily Market Highlights (23.11.2023)

Trading activity centres around BOV and HSBC


The MSE Equity Price Index moved 0.58% higher to 3,580.180 points driven by gains in both BOV and HSBC. Download today’s Equity Market Summary.

Bank of Valletta plc recovered some of yesterday’s losses as it rebounded by 0.8% to the €1.19 level across fourteen trades totalling 84,906 shares. BOV failed to hold onto an intra-day high of €1.20 (+1.6%).

Also in the banking sector, HSBC Bank Malta plc surged by 4.3% to a two-month high of €1.20 as 100,000 shares changed hands.

Loqus Holdings plc increased by 11.8% to the €0.19 level on a single deal of 2,000 shares.

The RF MGS Index moved 0.12% lower to 870.154 points. Forecasts released today show that private sector activity in the Euro Area is expected to contract for the sixth consecutive month during November. Nonetheless, the contractions are less than what was previously expected and at a decelerated pace from the previous month. Meanwhile, in the UK, activity is anticipated to remain stable in November as opposed to previous estimates expecting a fourth consecutive monthly decline. On the local front, yesterday the credit rating agency Moody’s assigned Malta with an A2 credit rating with a stable outlook. Moody’s emphasised Malta’s diversified economy with strong debt affordability whilst noting potential challenges driven by an ageing population and environmental issues. Moreover, the agency expects the public deficit to be 4.5% and 4.1% in 2024 and 2025 respectively. By 2026, the agency expects Malta to have a debt to GDP ratio of around 58%.


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.