Daily Market Highlights (24.03.2022)

MSE Equity Price Index drops to 16-month low


The MSE Equity Price Index eased by a further 0.18% to the lowest level since November 2020 of 3,634.880 points driven by the declines in RS2, Hili Properties and Trident. GO, M&Z and Loqus registered gains while four other equities remained unchanged. Trading activity remained subdued with only €0.04 million worth of shares changing hands. Download today’s Equity Market Summary.

The ordinary shares of RS2 Software plc moved 1.8% lower to the €1.65 level on one deal of 1,177 shares. This afternoon, RS2 announced that it has been made aware that a shareholder intends to acquire a substantial shareholding of not less than 10% from another shareholder.

Elsewhere, Hili Properties plc dropped by 3.2% to €0.242 – the lowest level since its listing in December 2021 – on a single trade of 20,000 shares.

Trident Estates plc eased by 1.4% to the €1.46 level after partially recovering from an intraday low of €1.37 (-7.4%) on volumes of a mere 1,000 shares.

A single deal of 1,170 shares pushed the share price of GO plc 0.6% higher to the €3.24 level. GO will be publishing its 2021 annual financial statements on 30 March.

M&Z plc gained 2% to the highest level since its listing earlier this month of €0.765 on a single deal of 2,500 shares.

Loqus Holdings plc advanced by 5.7% to €0.111 on trivial volumes.

HSBC Bank Malta plc retained the €0.85 level on two deals totalling 12,861 shares.

In the property sector, Malita Investments plc (15,000 shares) and Malta Properties Company plc (1,700 shares) remained at €0.75 and €0.505 respectively.

In the hospitality sector, International Hotel Investments plc traded flat at the €0.57 level on just 1,018 shares.

Today, Ryanair announced its summer 2022 schedule for Malta which includes nine new routes to destinations including Italy, France, Croatia, Israel, Ireland, and Poland. Ryanair will be operating six Malta-based aircrafts.

Yesterday, Mapfre Middlesea plc published its results for the 2021 financial year. During 2021, pre-tax profits of the non-life insurance business declined by 36.4% to €4.06 million as the increase in claims incurred outweighed the growth in earned premiums. Meanwhile, its life insurance subsidiary – Mapfre MSV Life plc – in which it holds a 50% equity stake, registered a 11.3% increase in pre-tax profits to €16.7 million compared to €15.0 million in 2020 as it benefitted from the strong economic recovery from last year. Overall, Mapfre Middlesea reported a net profit of €7.6 million which is 16.2% lower than the €9.12 million figure recorded in the 2020 financial year. The post-tax return on average equity deteriorated to 7.2% from 9.6% in 2020. The Directors are recommending a net dividend of €0.026087, which is 25% lower than last year’s dividend. This is payable on 24 May 2022 to all shareholders as at the close of trading on 25 March 2022 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on 29 April 2022.

The RF MGS Index extended yesterday gains as it added 0.13% to 1,029.850 points. Today, the ECB published its latest ‘Economic Bulletin’ in which the central bank stated that although the war in Ukraine is estimated to have reduced spending intentions in the near term, economic activity is expected to pick up over the year on the back of a lower economic impact from the Covid-19 pandemic, continued favourable financing conditions and improving labour market.

Today, IZI Finance plc published a Prospectus in relation to the issuance of €30 million unsecured bonds at a coupon of 4.25% maturing in 2029. IZI Finance is the parent and holding company of a number of subsidiaries involved in a wide range of gaming business verticals. The Group operates in retail gaming, holds a 60% shareholding interest in Dragonara Casino and has very recently concluded a ten-year concession agreement with the Government of Malta for the operation of the National Lottery. The offer period closes on Thursday 7 April 2022.


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