Daily Market Highlights (30.06.2023)

Treasury announces July MGS issuance of up to €400 million


Today, the Treasury announced the issue of 3 new Malta Government Stocks for an aggregate nominal amount of €270 million subject to an over-allotment option of up to a further €130 million. The 3 new fixed rate stocks are the 3.55% MGS 2026 (V) [Offered to both Retail and Institutional Investors]; the 3.75% MGS 2033 (III) [Offered to Institutional Investors only]; and the 4.00% MGS 2038 (I) [Offered to Retail Investors only]. The prices of these three new MGS’s will be announced on Thursday 6 July 2023 in the afternoon. Subscriptions for the General Public open on Monday 10 July 2023 and close on Wednesday 12 July 2023 at 14:30 hrs or earlier at the discretion of the Accountant General.

The RF MGS Index extended Wednesday’s losses as it fell by a further 0.44% to 870.467 points reflecting the upward movement of various eurozone sovereign bond yields with the German 10-year bund yield climbing above the 2.40% level. Despite that inflation within the Euro Area fell by more than expected to a 17-month low of 5.5% in June, the core inflation, which excludes energy and food, increased marginally to 5.4% compared to 5.3% in May. In this respect, the ECB had repeatedly stated that further rate hikes will be required until underlying price pressures are tamed.

The MSE Equity Price Index advanced by a further 0.18% to a three-week high of 3,749.550 points as the gains in Tigné Mall and Medserv outweighed the decline in Malita. Meanwhile, three other equities closed unchanged as the total trading activity amounted to €0.21 million. Download today’s Equity Market Summary.

Tigné Mall plc surged by 20% to a 5-month high of €0.84 across five deals totalling 50,000 shares.

MedservRegis plc moved 0.8% higher to the €0.66 level after recovering from an intraday low of €0.515 (-21.4%) across four trades totalling 80,000 shares.

In contrast, Malita Investments plc fell by 4% to the €0.60 level on heightened activity totalling 142,700 shares.

Bank of Valletta plc (14,742 shares) and HSBC Bank Malta plc (6,927 shares) closed unchanged, both at the €1.20 level.

Simonds Farsons Cisk plc traded flat at the €7.00 level as 611 shares changed hands.


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.