Daily Market Highlights (24.05.2022)

MSE Equity Price Index extends downward trend


The MSE Equity Price Index moved lower for the fourth consecutive day as it shed 1.03% to 3,669.856 points. The drop was mostly driven by the declines in the share prices of IHI and BOV which together with the negative performances of three other shares offset the gains in Plaza and Farsons. Meanwhile, Lombard, MIA and Tigné Mall closed the day unchanged as overall trading activity improved to €0.21 million compared to just €0.02 million yesterday. Download today’s Equity Market Summary.

International Hotel Investments plc plunged 6.7% to the €0.70 level after opening at a low of €0.66 (-12%). A total of 38,000 shares changed hands.

Also among the large companies by market value, Bank of Valletta plc slid by 2.3% to the €0.86 level on volumes totalling 63,069 shares.

BOV’s insurance associate – Mapfre Middlesea plc – retracted by 1% to the €1.96 level on 5,100 shares.

A single deal of 13,500 shares forced the share price of Grand Harbour Marina plc to drop by 2.7% to the €0.72 level.

The other negative performing equity today was HSBC Bank Malta plc as it eased 0.6% to the €0.775 level on a total of 11,900 shares.

In contrast, Lombard Bank Malta plc stayed at the €1.83 level albeit on trivial volumes.

Low trading activity also took place in the equity of Tigné Mall plc which traded flat at the €0.70 level.

Malta International Airport plc held on to the €5.90 level after opening at a low of €5.85 (-0.8%). A total of 8,000 shares changed hands.

Elsewhere, Plaza Centres plc rebounded by 1.2% to the €0.82 level across 25,000 shares.

Simonds Farsons Cisk plc advanced by 1.9% to recapture the €8.00 level across 4,000 shares.

Today, APS Bank plc announced that it obtained regulatory approval for the issuance and listing of up to 110 million new ordinary shares at a price of €0.62 per share. The offer period closes on Friday 17 June or earlier whilst the Prospectus will be available for download from the Bank’s website as from Thursday 26 May.

The RF MGS Index moved lower for the third consecutive day as it dropped by a further 0.42% to a fresh multi-year low of 980.927 points. The benchmark 10-year German Bund yield resurfaced above the 1% mark again amid stronger signs that the European Central Bank will increase its key interest rate to zero by the end of September from the current record low of -0.5%. On the economic front, various PMI data published today disappointed expectations as they mostly reflected sharper contractions than previously anticipated.


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.