Daily Market Highlights (29.09.2022)

Heightened activity in Farsons shares


The MSE Equity Price Index extended yesterday’s decline as it slipped by a further 0.81% to 3,630.753 points. The declines in four companies outweighed the gains in M&Z and MPC whilst APS and MIA traded flat. Trading activity increased considerably to €0.22 million compared to €0.07 million yesterday. Download today’s Equity Market Summary.

Simonds Farsons Cisk plc was the most actively traded equity today as it eased by 0.6% to the €7.90 level across 17,006 shares having a market value of €0.13 million. Yesterday, Farsons published its interim results showing record performance with revenues increasing by 7.6% over its previous high in H1 2019/20 to €57.3 million and net profits surging to just above €7 million. Farsons also declared a net interim dividend of €0.045 per share which is payable on 19 October to all shareholders as at close of trading on 3 October.

PG plc lost 4.5% to the €2.10 level albeit on just 1,100 shares.

In the retail banking sector, HSBC Bank Malta plc tumbled by 5.1% back to the €0.75 level across 33,555 shares.

Two deals totalling 9,000 shares forced the share price of Bank of Valletta plc to move 1.6% lower to the €0.90 level.

In contrast, APS Bank plc held on to the €0.64 level across 50,000 shares.

Malta International Airport plc also closed the day unchanged at the €5.95 level on 1,727 shares.

Meanwhile, M&Z plc recaptured the €0.73 level (+1.4%) across 5,074 shares.

Malta Properties Company plc rebounded by 2% to regain the €0.52 level on a single deal of 3,750 shares.

The RF MGS Index trended higher for the first time in more than a week as it rebounded by 0.23% to 878.771 points. Volatility across international financial markets subsided somewhat following the Bank of England’s intervention to mitigate market turmoil in the UK. Meanwhile, ahead of tomorrow’s very important release of inflation data across the euro area, fresh statistics showed that consumer prices increased by less than expected in Spain when compared to the same period in 2021.

On the local corporate bond market, Von der Heyden Group Finance plc provided an update in relation to a number of projects and investments that the Group is pursuing. In this respect, Von der Heyden noted that above-ground construction works will soon commence on a site in Poznań (Poland) which will be developed into a 40,000 sqm/26-floor A-Class office tower having an investment value of over €105 million. Elsewhere, Von der Heyden will be expanding its real estate investment portfolio in Malta and is currently in the process of acquiring the luxury hotel Cugó Gran Macina. Furthermore, the Group secured a strategically located site in the south of Malta which will be developed into a multitenant A-Class warehousing and logistics park.


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.