Daily Review 05.02.2024

BOV dominates trading activity


The MSE Equity Price Index moved 0.33% lower to 3,762.206 points as the declines in MIA, HSBC, GO, and Lombard outweighed the gain in BOV. Meanwhile, three other equities closed unchanged as today’s trading activity in local equities amounted to €0.19 million. Download today’s Equity Market Summary.

More than half of today’s value traded in local equities was across the shares of Bank of Valletta plc. BOV climbed 1.5% to a one-week high of €1.32 across fifteen trades totalling 82,000 shares.

Also in the banking sector, HSBC Bank Malta plc shed 1.5% to the €1.30 level as 30,000 shares changed hands.

Lombard Bank Malta plc eased by 0.6% to the €0.85 level on a single deal of 3,391 shares.

GO plc dropped by 4.4% to a one-week low of €3.06 level on two trades totalling 4,000 shares.

Malta International Airport plc fell 0.9% to the €5.65 level on muted activity.

APS Bank plc closed unchanged at the €0.545 level after failing to hold an intraday high of €0.55 (+0.9%) across eight deals amounting to 51,788 shares.

A single trade of 3,000 shares left the share price of Malta Properties Company plc unchanged at the €0.36 level.

Also in the property sector, Trident Estates plc held the €1.21 level on one deal of 2,910 shares.

The RF MGS Index fell by 0.63% to a one-week low of 891.566 points. The downward movement in bid prices reflects the rebound in eurozone sovereign bond yields, with the German 10-year yield climbing to a one-week high of 2.3%. Similarly in the US, the US Treasury 10-year yield rose to above the 4.1% level. Yesterday during an interview, the Chair of the Federal Reserve Jerome Powell indicated that the Fed will take longer than market expectations to cut its interest rates. In this respect, Powell stated that further caution is needed to ensure that inflation is heading towards the 2% target considering the economy’s resilience and the tight labour market as illustrated by last week’s stronger-than-expected jobs report.


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.