Daily Market Highlights (28.04.2022)

MSE Equity Price Index snaps 5-day positive streak


The MSE Equity Price Index moved lower for the first time in six trading sessions as it eased by 0.21% to 3,603.138 points. The drops in the share prices of BOV, HSBC and MPC outweighed the strong uplift in Trident whilst MIA and PG closed unchanged. Overall trading activity in equities improved to €0.07 million compared to €0.04 million yesterday. Download today’s Equity Market Summary.

Two deals totalling 7,500 shares left the share price of PG plc at the €2.24 level.

Malta International Airport plc traded flat at the €5.90 level across 2,134 shares.

Also among the large companies by market value, Bank of Valletta plc eased by 1.9% back to its multi-year low of €0.77 on 42,785 shares.

HSBC Bank Malta plc lost 1.3% to the €0.77 level across 10,000 shares.

Low trading activity took place in the equities of Malta Properties Company plc and Trident Estates plc. MPC moved back to the €0.50 level (-2%) whilst Trident rallied by 9.4% to regain the €1.40 level.

Also in the property segment, yesterday Plaza Centres plc published its results for the 2021 financial year. Plaza reported a net profit of €0.52 million which is 11% higher than the €0.47 million figure posted in the previous financial year. In their commentary, the Directors explained that the company continues to explore the feasibility and attractiveness of a number of growth opportunities. In fact, Plaza is currently in the process of incorporating a new company which is expected to gradually contribute to the diversification of the Plaza’s trading activity.

Hili Properties plc also reported its financial performance for 2021 as it recorded a net profit of €3.17 million. For the future, the company noted that it remains committed to continue growing its portfolio of assets across Europe which now has a total value of €180 million.

Yesterday, RS2 Software plc reported that in 2021 it significantly exceeded its profit forecast as the company registered a net profit of €3 million compared to the projected figure of just €0.01 million. RS2 noted that from a profitability point of view, in 2022, both the ‘Software Solutions’ (licensing) and the ‘Managed Services Solutions’ are expected to continue delivering a positive bottom-line contribution with the ‘Merchant Solutions’ arm expected to start generating a positive bottom-line contribution as from 2023. The company added that it is expecting to see substantial growth over the coming years.

Today, APS Bank plc published a quarterly update wherein it explained that during the first three months of the year, despite the continued strong growth in interest income, the bank’s performance was dented by unfavourable market movements which negatively impacted profitability. Looking ahead, APS noted that despite the various uncertainties, the bank is continuing to win important market share whilst maintaining strong credit quality. APS is also preparing to approach the market for new equity capital and a listing of its  ordinary shares. In this respect, sentiment for the Initial Public Offering is proving to be very strong as the bank looks forward to this round of capital raising as a gateway for its next growth phase.

Today, International Hotel Investments plc announced that it entered into a preliminary Term Sheet with the United Development Company of Qatar (UDC) to assess a possible subscription for shares in IHI. The term sheet provides that subject to the attainment of all necessary approvals, a satisfactory completion of a due diligence process, and satisfactory negotiation and completion of all requisite definitive agreements, UDC will subscribe to 100,000,000 new shares to be issued by IHI at a subscription price of €1.22 per share. Furthermore, UDC will be granted an option to subscribe to an additional 200,000,000 new shares within one year at a price of €1.28 per share. UDC is the owner and developer of ‘The Pearl in Doha’, Qatar, which is a luxury residential, commercial, social and hospitality development. UDC is a listed company whose main shareholder is the Pension Fund of Qatar.

The RF MGS Index extended yesterday’s uplift as it trended higher by a further 0.13% to 1,001.943 points. As tensions between Russia and the Western alliance intensified further, US President Joe Biden asked Congress for an additional USD33 billion in funding to assist Ukraine fend off the invasion. Meanwhile, fresh data showed that the US economy contracted by 1.4% in Q1 2022.


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.