Daily Market Highlights (29.09.2023)

BOV and GO lift the MSE Equity Price Index


The MSE Equity Price Index advanced by 0.23% to 3,691.846 points as the gains in BOV and GO offset the declines in HSBC, MIDI, Mapfre and Trident. Meanwhile, BMIT Technologies plc traded flat at the €0.41 level across three trades totalling 11,300 shares. Download today’s Equity Market Summary.

Bank of Valletta plc surged by 2.5% to the €1.24 level across eight deals totalling 17,080 shares. On its website, BOV announced that Standard and Poor’s assigned a BBB-/A-3 rating, upgrading BOV’s outlook to stable. S&P also highlighted the fact that in future evaluation, they would consider a further rating upgrade by one notch, once the Bank registers an additional loss-absorbing capacity buffer that comfortably exceeds their 4% risk-adjusted capital ratio threshold.

GO plc moved 0.7% higher to the €2.74 level, albeit on muted activity.

In contrast, HSBC Bank Malta plc shed 0.9% to the €1.16 level across four trades totalling 5,649 shares. HSBC failed to hold onto an intra-day high of €1.18 (+0.9%).

Trident Estates plc (-4.0%) and Mapfre Middlesea plc (-3.1%) dropped to the €1.20 and €1.26 levels respectively on trivial volumes.

A single trade of 20,000 shares pulled the share price of MIDI plc to a multi-year low of €0.23.

The RF MGS Index moved 0.06% higher to 853.205 points. Estimates published by Eurostat today showed that the annual inflation rate in September is expected to ease to 4.3% compared to 5.2% in the previous month, which would mark the lowest level in almost two years. A slower increase in prices for food and tobacco, services and nonenergy industrial goods coupled with a steeper decrease in energy prices are set to drive inflation 0.2 percentage points lower than earlier forecasts. Similarly in the US, the annual inflation rate measured through core Personal Consumption Expenditures Price Index dropped to 3.9% in August, the lowest since May 2021.


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.