Daily Review 03.01.2023

Seven equities drag the MSE Equity Price Index lower

The MSE Equity Price Index reversed most of last Friday’s gains as it fell by 1.67% to 3,893.167 points. The declines in seven equities outweighed the gains in HSBC and M&Z. Today’s trading activity in local equities amounted to €0.14 million. Download today’s Equity Market Summary.

Bank of Valletta plc retracted by 5.6% to the €1.34 level across fifteen trades totalling 21,293 shares.

Also in the banking sector, APS Bank plc moved 5.2% lower to a two-week low of €0.55 over nine deals totalling 74,831 shares.

Malta International Airport plc shed 0.9% to the €5.70 level as 6,400 shares changed hands.

Also among the large companies by market value, Simonds Farsons Cisk plc declined by 2.1% to the €7.00 level on one trade of 251 shares.

A single deal of 1,600 shares pulled the share price of PG plc 4.5% lower to the €2.10 level.

Hili Properties plc fell by 6.5% to a two-month low of €0.20 on two trades totalling 5,100 shares.

Also in the property sector, AX Real Estate plc shed 2.9% to a one-month low of €0.50 on a single trade of 4,000 shares.

In contrast, HSBC Bank Malta plc gained 1.6% to an almost five-month high of €1.30 over five deals totalling 19,200 shares.

M&Z plc climbed 1.6% higher to a one-month high of €0.64 across two trades totalling 5,471 shares.

The RF MGS Index shed 0.94% to 899.168 points, its sharpest daily decline in nine months, reflecting the upward movements in sovereign bond yields in the past days with the German 10-year bund yield touching an intraday high of 2.10%, compared to a low of 1.89% last week. Inflation concerns remerged as freight rates are increasing amid the disruptions across the Red Sea route. Commodity prices are also experiencing notable price volatility in view of the escalating tensions in the Red Sea region. Meanwhile, in the US, data published today showed that job openings fell unexpectedly for the fourth consecutive month in November and reached the lowest level in almost three years. Meanwhile, the manufacturing industry contracted further in December, albeit at a slower pace than forecasted. Notably, the US manufacturing sector was in contraction territory in every month during 2023.


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.