Daily Market Highlights (26.05.2023)

HSBC climbs to an over 3-year high


The MSE Equity Price Index eased by 0.06% to 3,661.302 points as the declines of GO and IHI outweighed the gains in BOV, HSBC and BMIT. Download today’s Equity Market Summary.

HSBC Bank Malta plc advanced by 1.8% to the €1.12 level, its highest share price since January 2020. A total of 889 shares changed hands.

Also within the banking sector, Bank of Valletta plc moved 1.8% higher to a 3-week high of €1.15 across four deals totalling 53,000 shares. BOV was the most actively traded equity for five consecutive trading sessions.

BMIT Technologies plc rebounded by 1.5% to the €0.416 level on a single trade of 5,000 shares.

In contrast, BMIT’s parent company, GO plc, shed 1.3% to the €3.02 level across two deals totalling 2,085 shares.

International Hotel Investments plc plunged by 5.4% to a two-month low of €0.53 across two trades totalling 8,470 shares. IHI will be holding the Annual General Meeting on Tuesday 13 June.

The RF MGS Index declined by 0.42% to 865.817 points and posted its third consecutive weekly decline, reflecting the continued upward movement in eurozone sovereign bond yields. In the US, GDP growth for Q1 2023 was higher than expected at 1.3% as consumer and public spending rose at a higher-than-anticipated rate. Nonetheless, GDP growth remains at its slowest rate since Q2 2022. Also in the US, the annual Core Personal Consumption Expenditure (PCE Inflation) went up to 4.7% in April, higher than expectations, and marginally higher than the previous month’s reading. The reading is one of the main gauges used by the Federal Reserve to measure inflation.


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.