Daily Market Highlights (28.03.2023)

Lombard gain offsets losses in four other equities


The MSE Equity Price Index remained virtually unchanged at 3,532.237 points as the declines in MIA, Malita, M&Z, and PG were outweighed by the gain in Lombard. Meanwhile, Trident Estates plc closed unchanged at the €1.25 level on two deals totalling 1,556 shares. Download today’s Equity Market Summary.

Lombard Bank plc rebounded by 11.1% back to the €1.00 level on two trades totalling 15,895 shares.

In contrast, Malta International Airport plc fell by 0.9% to the €5.60 level across three deals totalling 1,953 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.

PG plc declined by 1% to a one-month low of €1.97 on a single deal of 2,830 shares.

One trade of 6,160 shares pulled the share price of M&Z plc 1.5% lower to an all-time low of €0.64.

Malita Investments plc was today’s worst performing equity as it tumbled 7.5% to the €0.62 level, albeit on a single trade of 2,000 shares.

The RF MGS Index shed 0.77% to 883.460 points reflecting the increase in yields across the eurozone as concerns about the financial stability of the banking sector continued to ease. Yesterday, ECB Governing Council member Gediminas Simkus stated that the ECB is better prepared today than it was in 2008 to handle banking issues due to the higher capital buffers of banks in the euro system as well as their higher liquidity and profitability levels. The recovery in yields was also evident in the US with the 2-year Treasury yield climbing above the 4% level after having touched a low of 3.6% last week.


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.