Daily Market Highlights (31.07.2023)

MIA and HSBC due to report tomorrow


The MSE Equity Price Index moved 0.31% lower to 3,790.635 points reflecting the declines in BOV and APS. Meanwhile, three other equities closed unchanged as the total trading activity was muted at €0.08 million. Download today’s Equity Market Summary.

Most of today’s trading activity took place across the shares of Malta International Airport plc. MIA traded flat at the €5.65 level on eight deals totalling 8,275 shares. Tomorrow, MIA is set to publish its interim financial statements for the six-month period ended 30 June 2023. The Directors will also consider the declaration of an interim dividend.

Also reporting its interim results tomorrow, HSBC Bank Malta plc traded flat at the €1.25 level across four deals totalling 12,178 shares. The Directors will also consider the declaration of an interim dividend.

GO plc closed unchanged at the €2.90 level after recovering from a low of €2.86 (-1.4%) across three trades totalling 2,705 shares. GO is set to publish its interim results on Monday 7 August.

Bank of Valletta plc shed 1.6% to the €1.25 level on two trades totalling 6,500 shares. Last Thursday, BOV published its interim results for the first half of 2023. Net interest income surged by 83.3% to €159.9 million, but non-interest income dropped by 3% to €42.7 million. BOV’s net profit for the period amounted to €69.0 million. In a press release issued after the publication of the financial statements, BOV remarked that: “the Board is now in the process of compiling forward-looking data and analyses in order to consider the payment of a dividend out of the profits realised in the first half of 2023. As explained at the Bank’s latest AGM, dividend decisions at BOV are not based on a simple calculation but need to meet important risk and other regulatory criteria, which focus on the strength and viability of the Bank’s future business. This is essential to safeguard the best interests of our shareholders and wider stakeholders.”

Also in the banking sector APS Bank plc eased by 0.8% to €0.615 over two deals totalling 1,600 shares. On Thursday, APS published its interim results for the first six months of the year in which APS generated a record of €37.1 million in net interest income and also recorded €5.23 million from its non-interest income activities. Profit for the period attributable to shareholders amounted to €10.8 million. As at 30 June 2023, shareholders’ funds amounted to €261.4 million which translates to a net asset value per share of €0.693. The board declared a net interim dividend of €0.0056 per share (equivalent to €2.1 million) to all shareholders as at close of trading on 23 August 2023. Shareholders can elect to receive the dividend either in cash or through the issuance of new ordinary shares at an attribution price of €0.57 per share. The CEO stated that later this year, APS will launch an issuance programme of Tier 2 debt instruments.

Loqus Holding plc slumped by 8.6% to €0.32 on trivial volumes.

The RF MGS Index remained virtually unchanged at 870.277 points as the drop in prices of short and medium-dated MGS was offset by the gain in prices of longer-dated MGS, reflecting a flattening yield curve. A flash estimate published by Eurostat showed that the eurozone annual inflation in July is expected to drop to an 18-month low of 5.3% fuelled by the decline in energy prices. The rate of price increases across a number of other sectors is also expected to have been lower.


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.