Daily Market Highlights (27.09.2022)

MSE Equity Price Index climbs to 7-week high


The MSE Equity Price Index moved higher for the sixth consecutive trading session as it advanced by a further 0.32% to a seven-week high of 3,679.140 points. The uplift reflects the gains in the share prices of HSBC, GO and MPC which outweighed the declines in MIA, Lombard and BMIT. Meanwhile, IHI and GHM closed the day unchanged as €0.1 million worth of shares changed hands. Download today’s Equity Market Summary.

HSBC Bank Malta plc surged by 5.3% to a four-month high of €0.79 on six deals totalling 23,991 shares.

Also among the large companies by market value, GO plc climbed 2% to the €3.08 level after recovering from a low of €3.00 (-0.7%). A total of 7,597 shares traded.

Malta Properties Company plc moved 1% higher to the €0.52 level on a single deal of 1,000 shares. Today, MPC announced that it concluded the sale of the Birkirkara Old Exchange for a total consideration of €8 million. The proceeds are expected to go towards funding MPC’s development projects and/or any acquisition opportunities.

In contrast, Malta International Airport plc eased by 0.8% to the €5.95 level across 4,614 shares.

Lombard Bank Malta plc retracted by 0.5% to the €1.94 level on a single deal of 7,650 shares. Last week, Lombard announced its intention to tap the local capital market for the purpose of issuing new shares. In this respect, Lombard will be holding an Extraordinary General Meeting on 10 November with a view of obtaining the necessary approval from shareholders as at close of trading on 7 October.

BMIT Technologies plc fell 2.9% to a three-week low of €0.466 level across 11,333 shares.

Two deals totalling 10,000 shares left the share price of International Hotel Investments plc at the €0.705 level.

Grand Harbour Marina plc remained at the €0.70 level after opening at a low of €0.65 (-7.1%). A total of 7,142 shares changed hands.

The RF MGS Index fell for the fifth consecutive session as it dropped by a further 0.51% to a fresh all-time low of 885.908 points. Yesterday, ECB President Christine Lagarde stated that the central bank will continue raising interest rates over the next several monetary policy meetings amid soaring inflation. Ms Lagarde reiterated that although the eurozone economy continued to grow amid strong consumer spending and robust labour market conditions, economic activity is expected to slow materially in the coming months.

Today, the Central Bank of Malta published an update showing that economic sentiment in Malta moved lower in August and stood below its long-term average. Meanwhile, the unemployment rate remained at a record low of 2.9% while the annual inflation rate reached 7% in August compared to 6.8% in July.


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.