Daily Market Highlights (28.12.2022)

PG concludes acquisition of Qormi site

The MSE Equity Price Index rebounded by 0.68% to 3,524.426 points as the gains of the ordinary shares of RS2, MIA, HSBC and Lombard outweighed the declines of AX Real Estate, BOV and Loqus. Meanwhile, four other equities closed unchanged as overall trading activity amounted to €0.09 million. Download today’s Equity Market Summary.

Yesterday, PG plc announced that it executed the final deed of sale with Nylon Knitting Limited to acquire the remaining 90 years of the temporary utile dominium of a divided portion of lard forming part of the land known as ‘ta’ L-Istabar’ in the limits of Qormi, in close proximity to the PAVI Shopping Complex. The equity remained inactive today.

Today, Santumas Shareholdings plc published its interim financial statements for the six-month period ended 31 October 2022. Investment income improved to €0.38 million compared to the €0.21 million figure generated in the comparable six-month period ended 31 October 2021. Moreover, Santumas Shareholdings registered a €0.10 million increase in fair value of its financial assets, in contrast to the decline of €0.23 million in the comparable six-month period last year. Overall, Santumas Shareholdings posted a net profit of €0.37 million. The company’s total equity improved to €11.2 million, which translates into a net asset value per share of €1.535 (30 April 2022: €1.485 per share).

HSBC Bank Malta plc was today’s most actively traded equity as it regained the €0.715 level (+0.7%) across eight trades totalling 38,585 shares.

The ordinary shares of RS2 Software plc rebounded by 15.8% to the €1.10 level on a single trade of 2,447 shares.

Malta International Airport plc climbed 1.8% to the €5.75 level as 1,465 shares changed hands.

Lombard Bank Malta plc advanced by 6% to the €1.06 level after opening at an 8-year low of €0.75 (-25%) across volumes totalling 7,109 shares.

Bank of Valletta plc contracted by 4.2% to the €0.805 level across five trades totalling 15,829 shares.

AX Real Estate plc moved 0.9% lower to an all-time low of €0.53, albeit on trivial volumes.

Loqus Holdings plc eased by 0.5% to the €0.189 level on one deal of 17,264 shares.

Simonds Farsons Cisk plc traded flat at the €6.80 level across four trades totalling 1,639 shares.

BMIT Technologies plc held the €0.45 level after recovering from an intraday low of €0.44 (-2.2%) across fives deal totalling 13,000 shares.

Similarly, BMIT’s parent company – GO plc – closed unchanged at the €2.86 level after recovering from a low of €2.72 (-4.9%) across five trades totalling 4,350 shares.

Malta Properties Company plc ended the session unchanged at the €0.50 level after recovering from an intraday low of €0.40 (-20%) across three trades totalling 1,330 shares.

The RF MGS Index posted a three-day losing streak as it fell by 0.19% to 864.496 points reflecting the continued surge across eurozone sovereign bond yields. In Europe, natural gas prices continued to decline and reached the lowest levels since February as the warmer-than-usual weather across the continent resulted in lower consumption.

Today, IZI Finance plc published an updated Financial Analysis Summary which included details of the expected financial performance for the current financial year ending 30 June 2023. Revenue is expected to rise to €77.6 million (2021/22: €30.5 million) largely reflecting the commencement of the operation of the National Lottery as from 5 July 2022. The forecasted revenue is however expected to be 5.5% lower than the projected figure of €81.9 million at the time of the bond issue in March 2022 due to the slower-than-expected implementation of the distribution plan and technology supply chain challenges within the National Lottery. IZI Finance is expecting EBITDA of €17.8 million, compared to the previous projected figure of €21.7 million amid a notable increase in staff costs, primarily as a result of the Group operating more own shops within the network of the National Lottery. Net finance costs are forecasted at €4.6 million which translate to an interest cover of 3.83 times.



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.