Daily Market Highlights (24.11.2023)

MSE Equity Price Index reaches 2-week high


The MSE Equity Price Index moved 0.97% higher to 3,614.887 points as the gains in MIA, MIDI, Lombard, and APS outweighed the declines in PG and Farsons. Meanwhile, a single deal of 8,224 shares, left the share price of HSBC Bank Malta plc at the €1.20 level. Download today’s Equity Market Summary.

Malta International Airport plc was today’s most actively traded equity as it advanced by 2.7% to a seven-week high of €5.70 across six trades totalling 8,750 shares.

APS Bank plc rose by 7.0% to an eight-week high of €0.61 across six deals totalling 63,557 shares, albeit the volume-weighted average price for the day was at €0.576.

Also in the banking sector, Lombard Bank Malta plc climbed by 7.3% to a ten-week high of €0.805 on a single trade of 6,500.

MIDI plc surged by 27.5% to an almost three-month high of €0.26 as 40,000 shares changed hands, nonetheless, the volume-weighted average price for the day was at €0.238.

PG plc shed 1% to the €1.96 level after partially recovering from a low of €1.94 (-2%) across two deals totalling 10,945 shares.

Simonds Farsons Cisk plc shed 2.3% to an over two-year low of €6.50 across four trades totalling 1,170 shares.

The RF MGS Index fell by 0.43% to 866.454 points, marking a third consecutive daily decline. Yesterday, Bundesbank President Joacim Nagel said that despite progress being made to reduce inflation, he expects it to rise again going forward and that the path to the ECB’s 2% inflation target will not be straightforward. In this respect, he reiterated the importance of patient, data-driven, interest rate decisions. Meanwhile, on the local front, yesterday the IMF published a concluding statement regarding Malta following an annual consultation. The financial agency noted that Malta marked an impressive recovery from the pandemic and demonstrated substantial resilience to shocks resulting from Russia’s invasion of Ukraine. Furthermore, the IMF stated that Malta’s growth is still expected to be amongst the highest in Europe, which will however drive inflationary pressures. The agency mentioned three key policy priorities for Malta, namely implementing an exit strategy from current energy subsidies, improving the monitoring of financial sector risks and structural reform efforts in innovation, digitalisation, labour markets, education, and green transformation.



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.