Daily Market Highlights (29.12.2022)

IHI, PG and HSBC pull the MSE Equity Price Index lower

The MSE Equity Price Index erased some of yesterday’s gain as it lost 0.17% to 3,518.576 points as the declines of IHI, PG, and HSBC outweighed the gains of APS and the ordinary shares of RS2. Meanwhile, three other equities closed unchanged as overall trading activity improved to a near two-week high of €0.12 million. Download today’s Equity Market Summary.

International Hotel Investments plc was today’s most actively traded equity as it fell by 3.6% to the €0.675 level across five deals totalling 58,101 shares.

PG plc eased by 1% to the €2.08 level across four trades totalling 9,000 shares. On Tuesday, 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.

HSBC Bank Malta plc moved 0.7% lower to the €0.71 level on volumes totalling 15,951 shares.

In contrast, APS Bank plc advanced by 0.8% to the €0.615 level across four trades totalling 15,000 shares.

The ordinary shares of RS2 Software plc extended yesterday’s gains by a further 4.5% to the €1.15 as 10,638 shares changed hands.

Also among the large companies by market value, Bank of Valletta plc traded flat at €0.805 across four deals totalling 13,470 shares.

Malta International Airport plc closed the day unchanged at the €5.75 level after opening at a 2-year low of €5.55 (-3.5%). A total of 2,820 shares were traded.

Malta Properties Company plc ended the session unchanged at the €0.50 level after recovering from an intraday low of €0.49 (-2%) across volumes totalling 5,000 shares. Today, MPC published social media posts announcing the completion of the Zejtun property, a 10,000 sqm mixed-use development that is leased to GO plc.

The RF MGS Index posted a 4-day losing streak as it fell by 0.12% to 863.925 points reflecting fears amid expectations of various macroeconomic headwinds in the coming months. Yesterday, Italy updated its 2023 budget with an increase in government expenditure leading to a forecasted deficit to 4.5% of GDP. The additional spending will be principally allocated to helping firms and households cope with the energy crisis. Today, Italy also implemented restrictions for all travellers from China amid a surge in reported COVID-19 cases from travellers.


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.