Daily Market Highlights (24.10.2023)

No changes in local equity prices


The MSE Equity Price Index remained unchanged at 3,597.934 points as there were no price movements in any of the seven equities which traded today. Activity in local equities was muted with just €0.04 million worth of shares changing hands. Download today’s Equity Market Summary.

APS Bank plc traded flat at the €0.59 level on two trades totalling 7,021 shares. Today, APS announced that the Malta Financial Services Authority approved the Base Prospectus and a first tranche of up to €50 million 5.8% unsecured subordinated bonds maturing in 2028-2033. APS explained that since the bonds are considered complex products, prospective investors wishing to participate will be subjected to a Suitability Assessment. The Intermediaries Offer is set to open on Monday 30 October until Friday 17 November. In the event of oversubscription, the Bank will give preference to Preferred Applicants, which are APS shareholders and bondholders as at close of trading on 19 October 2023 and APS employees as at 23 October 2023. The Base Prospectus and Final Terms will be published tomorrow. Furthermore, on Thursday 26 October, APS is also expected to publish its financial results for the nine-month period ended 30 September on Thursday 26 October 2023.

Bank of Valletta plc closed unchanged at the €1.22 level after failing to hold to an intraday high of €1.24 (+1.6%) across four deals totalling 10,002 shares. BOV’s Board of Directors is scheduled to meet on Thursday 26 October 2023 to consider the payment of an interim dividend.

Also in the banking sector, HSBC Bank Malta plc traded flat at the €1.15 level across three deals totalling 9,068 shares.

A single trade of 2,000 shares left the share price of Lombard Bank Malta plc unchanged at the €0.76 level. Lombard shareholders as at the close of trading on 15 September 2023 are entitled to participate in a 2-for-3 rights issue at a price of €0.75 until Thursday 26 October 2023.

Malta International Airport plc remained at a five-month low of €5.45 on three deals totalling 880 shares.

Plaza Centres plc held the €0.65 level on a single trade of 10,000 shares.

Simonds Farsons Cisk plc held the €6.60 level on trivial volumes.

The RF MGS Index gained 0.84% to 851.451 points, marking the largest daily increase since last July, reflecting a drop in yields across sovereign bond markets. Data published today showed that during October, manufacturing and services in the Eurozone are set to contract more than initially expected. Meanwhile in the US, similar aggregate October data for manufacturing and services showed a larger growth than expected illustrating a more resilient economy.


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.