Daily Market Highlights (24.11.2022)

Trading in PG shares takes centre-stage


The MSE Equity Price Index eased by 0.09% to 3,562.856 points as the declines in four equities outweighed the gain in PG. Meanwhile, three other equities closed unchanged as overall trading activity reached a five-week high of €0.28 million. Download today’s Equity Market Summary.

Most of today’s trading took place in the shares of PG plc which moved 0.9% higher to the €2.14 level across robust volumes of 115,415 shares having a market value of €0.25 million. On Tuesday, PG announced that it entered into an agreement with Nylon Knitting Limited to acquire the remaining 90 years of the temporary utile dominium of a divided portion of land forming part of the land known as ‘ta’ L-Istabar’ in the limits of Qormi, which in turn currently forms part of the site named ‘Nylon Knitting’ near the PAVI Shopping Complex. The consideration price for the acquisition is of €7.0 million, of which 10% has been paid as a deposit while the remaining balance will be settled at the final deed of sale. The transaction is subject to the relevant searches being carried out to be satisfactory and shall remain valid up to 30 January 2023.

Bank of Valletta plc eased by 0.6% to the €0.87 level on three deals totalling 11,096 shares.

APS Bank plc (765 shares) and Lombard Bank Malta plc (7,300 shares) also registered marginal declines to the €0.595 and €1.09 levels respectively.

A single trade of 4,444 shares pulled the share price of Loqus Holdings plc 18.4% lower to the €0.155 level.

HSBC Bank Malta plc traded flat at the €0.73 level across 15,098 shares.

Malta Properties Company plc (1,512 shares) and MaltaPost plc (80 shares) closed unchanged at the €0.494 and €1.10 levels respectively.

The RF MGS Index posted the sharpest uplift in four weeks as it surged by 1.21% to 907.411 points. Sovereign bond yields across the major currencies moved lower following indications that the US Federal Reserve may slow the monetary policy tightening. Meanwhile, the latest ECB monetary meeting minutes published today showed that the ECB’s Governing Council is committed to raise rates further to prevent inflation from becoming entrenched, irrespective of a deteriorating outlook for the economy. At the meeting held at the end of October, the ECB increased rates by 75 basis points but some members argued for a 50-basis point increase.


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.