Daily Market Highlights (27.03.2023)

Five equities pull the MSE Equity Price Index lower


The MSE Equity Price Index dropped by 1.2% to 3,531.434 points across the declines in BOV, GO, BMIT, Lombard, and Mapfre. Meanwhile, five other equities closed unchanged as overall trading activity amounted to €0.19 million. Download today’s Equity Market Summary.

Bank of Valletta plc fell by 0.6% to the €0.90 level after partially recovering from an intraday low of €0.86 (-5%) across seven deals totalling 35,336 shares. BOV is scheduled to publish its results for the 2022 financial year on Thursday 30 March 2023.

Also within the local banking sector, Lombard Bank plc tumbled by 10% to the €0.90 level on two trades totalling 11,702 shares.

GO plc declined by 9.7% to the €2.80 level across six deals totalling 6,050 shares. At the upcoming Annual General Meeting scheduled for 11 May 2023, the Directors of GO will be recommending the payment of a final net dividend of €0.09 per share to all shareholders as at the close of trading on 5 April 2023.

GO’s data centre and IT services subsidiary – BMIT Technologies plc – shed 1.7% to the €0.46 level as 3,029 shares exchanged hands. The Directors of BMIT are recommending the payment of a net dividend of €0.0246 per share to shareholders as at close of trading on 4 April 2023.

A single deal of 5,000 shares pulled the share price of Mapfre Middlesea plc 2.9% lower to the €1.65 level.

Meanwhile, HSBC Bank Malta plc closed unchanged at the €0.98 level after failing to hold to an intraday high of €1.00 (+2%) across two trades totalling 52,223 shares.

Also among the large companies by market value, Malta International Airport plc closed unchanged at the €5.65 level after recovering from a low of €5.60 (-0.9%) across four deals totalling 2,362 shares. MIA shareholders as at close of trading on 4 April 2023 will be entitled to a final net dividend of €0.12 per share, subject to approval at the upcoming Annual General Meeting scheduled for 10 May 2023.

APS Bank plc traded flat at the €0.63 level across seven deals totalling 54,710 shares.

Malta Properties Company plc held the €0.43 level on four trades totalling 44,550 shares.

MaltaPost plc stayed at the €0.45 level on two deals totalling 6,308 shares.

The RF MGS Index shed 0.23% to 890.154 points. Eurozone yields continued to rise as concerns within the European financial services sector start to diminish with analysts indicating that the financial health and business dynamics of Deutsche Bank cannot be compared to those of Credit Suisse. Nonetheless, the head of the IMF remarked on Sunday that risks to financial stability have increased and stressed on the importance to remain vigilant.

Last Friday, the National Statistics Office reported that the Government’s Consolidated Fund registered a surplus of €114.2 million in the first two months of the year. The published data shows that the increase in government income, predominantly from income tax, outweighed the increase in expenditure, largely composed of recurrent expenditure. When compared to the corresponding period a year earlier, Government debt increased by €886.4 million to €9.28 billion leading to higher debt servicing costs.



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.