Daily Market Highlights (30.01.2023)

BOV and MIA push the MSE Equity Price Index higher


The MSE Equity Price Index advanced by 0.21% to 3,571.192 points as the gains of BOV and MIA outweighed the losses in GO and M&Z. Meanwhile, HSBC Bank Malta plc closed unchanged at the €0.83 level after recovering from a low of €0.82 (-1.2%) across seven deals totalling 16,810 shares. Download today’s Equity Market Summary.

Most of the trading activity today took place in the shares of Bank of Valletta plc as it moved up by 1.7% to the €0.915 level across ten deals totalling 118,102 shares having a market value of €0.11 million. The share price of BOV was volatile during today’s session as it reached a high of €0.92 (+2.2%) after falling to a low of €0.87 (-3.3%).

Malta International Airport plc advanced by 0.9% to the €5.65 level on three trades totalling 631 shares.

In contrast, GO plc fell by 1.4% to a six-week low of €2.72 on two trades totalling 1,614 shares.

M&Z plc declined by 0.7% to the €0.685 level on trivial volumes.

The RF MGS Index shed 0.23% to 880.657 points as eurozone sovereign bond yields extended their recent gains with the German 10-year bund reaching a three-week high of 2.3% during the day. Preliminary estimates showed that Germany’s GDP fell during the last quarter of 2022 mainly due to lower household consumption. In contrast, the Euro Area’s economic sentiment indicator improved in January 2023 to the highest level since June 2022.

Today, the Central Bank of Malta released an economic update which showed that in December business activity climbed marginally above its long-term average. Meanwhile, the number of promise-of-sale agreements and final deeds of sale for residential properties fell both on a year-on year basis as well as when compared to the previous month. The Central Bank also noted that the annual inflation rate rose to 7.3%, primary due to higher costs for services.

Last Friday, The Convenience Shop (Holding) plc published a Prospectus in relation to an offer of 7,700,000 ordinary shares at an issue price of €0.97 per share, albeit specific discounts will be granted to employees and franchisees of the Group as well as applicants subscribing for sizeable amounts of shares. The Group operates 40 stores and acts as a franchisor to a further 43 grocery stores within the fast-moving consumer goods (‘FMCG’) industry, which operate under “The Convenience Shop” brand. The offer period starts on 1 February 2023 until 10 March 2023, or earlier as may be determined by the Company and the Selling Shareholders.


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.