Daily Review 02.02.2024

HSBC closes at a six-month high


The MSE Equity Price Index remained practically unchanged at 3,774.601 points as the gain in HSBC and VBL were offset by the decline in Harvest and the preference shares of RS2. Meanwhile, five other equities closed unchanged as today’s traded value in local equities amounted to €0.08 million. Download today’s Equity Market Summary

HSBC Bank Malta plc moved 0.8% higher to reach a six-month high of €1.32 across three deals totalling 4,119 shares after recovering from an intraday low of €1.30 (-0.8%).

VBL plc moved 1.1% higher to the €0.182 level on a single trade of 10,000 shares.

In contrast, Harvest Technology plc shed 1.4% to the €0.725 level on one deal of 5,500 shares.

The preference shares of RS2 plc slumped to the €1.05 level before partially recovering to close 3.7% lower at  €1.30 across two trades amounting to 5,000 shares.

Bank of Valletta plc was today’s most actively traded equity as it closed unchanged at the €1.30 level over six trades amounting to 30,947 shares.

Also among the large companies by market value, Malta International Airport plc held the €5.70 level as 652 shares changed hands.

GO plc traded flat at the €3.20 level across four deals totalling 5,000 shares.

Similarly, GO’s subsidiary BMIT Technologies plc also traded unchanged at the €0.388 level on a single trade of 6,600 shares.

One trade consisting of 1,960 shares of Trident Estates plc was executed at the €1.21 level, unchanged from the previous closing price.

The RF MGS Index remained relatively unchanged at 897.239 points as the declines in the bid prices for short to medium term MGS were offset by increases in the bid prices for longer-term MGS. This afternoon, eurozone yields rebounded with the benchmark 10-year German Bund yield reaching the 2.24% level following the publication of a strong US jobs report. The better than expected data in the US led the country’s 10-year yields above the 4% level as an early interest rate cut by the US Federal Reserve is even more unlikely.


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.