Daily Market Highlights (28.03.2022)

MSE Equity Price Index climbs to 1-week high


The MSE Equity Price Index opened the week 0.33% higher to close at 3,657.756 points reflecting the gains in four companies whilst only Tigné Mall trended lower. Meanwhile, six shares ended unchanged as overall trading activity improved to €0.15 million compared to €0.10 million last Friday. Download today’s Equity Market Summary.

The majority of today’s trading activity took place in the equity of BMIT Technologies plc as the share price remained at the €0.498 level after retreating from a high of €0.51 (+2.4%). A total of 177,200 shares changed hands having a market value of €0.09 million. BMIT is due to publish its 2021 full-year results tomorrow.

A single deal of 4,833 shares left the share price of Bank of Valletta plc at the €0.78 level.

Also among the large companies by market value, HSBC Bank Malta plc (1,000 shares) and Malta International Airport plc (2,490 shares) closed flat at €0.85 and €5.65 respectively.

In the property segment, Hili Properties plc stayed at the €0.254 level after opening at a low of €0.24 (-5.5%). A total of 5,000 shares traded.

Similarly, Trident Estates plc held on to the €1.46 level after opening at a low of €1.37 (-6.2%). A total of 16,500 shares changed hands.

In contrast, Tigné Mall plc retracted by 1.4% back to the €0.70 level across 3,585 shares.

Malta Properties Company plc (1,000 shares) and Malita Investments plc (6,100 shares) ended the day higher at €0.51 (+1%) and €0.79 (+5.3%) respectively.

International Hotel Investments plc added 1.7% to recapture the €0.60 level albeit on trivial volumes.

The other positive performing equity today was GO plc with an uplift of 1.9% to the €3.30 level across 3,050 shares. GO is due to publish its 2021 full-year results on Wednesday 30 March.

The RF MGS Index shed 0.39% to an over 8-year low of 1,023.808 points as sovereign bond yields in the euro continued to trend higher after ECB President Christine Lagarde opined that the war in Ukraine is unlikely to cause stagflation in Europe. In this context, the 10-year benchmark German Bund yield climbed to a near 4-year high of 0.63% compared to a level of -0.2% as at the end of 2021. Elsewhere, the Central Bank of Malta published an update on the performance of the local economy in February 2022. The CBM noted that business and consumer conditions remained buoyant although a slower activity was recorded in the construction, retail and services sectors. The unemployment rate fell to 3.1% whilst the inflation rate increased marginally to 4.2%.


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.