Daily Review (09.02.2024)

Treasury announces first MGS issuance for 2024


Today, the Treasury Department announced the issue of 2 new Malta Government Stocks for a total nominal amount of up to €400 million. The 2 new fixed rate stocks are the 3.15% MGS 2027 (VII) and the 3.35% MGS 2029 (V). The prices of these two new MGS’s will be announced on Thursday 15 February 2024 in the afternoon. The General Public has the possibility of applying for these stocks in multiples of €100 and up to a maximum of €499,900 (nominal) per application. For applications in excess of €500,000 (nominal), a tendering process applies. Subscriptions for the General Public open on Monday 19 February 2024 and close on Wednesday 21 February 2024 at 14:30 hrs or earlier at the discretion of the Accountant General.

The RF MGS Index extended yesterday’s losses as it fell by a further 0.38% to a two-month low of 885.759 points. Yields across the eurozone sovereign bond markets continued to climb across the yield curve, with the German 2-year yield rising sharply to above the 2.7% level compared to the 2.4% level last week. Updated data published in today showed that the consumer price inflation in the US was at an annualised rate of 2.7% in the fourth quarter of the year, marginally below previous estimates.

Meanwhile, the MSE Equity Price Index extended yesterday’s uplift as it climbed by a further 0.19% to 3,751.582 points. The gains in APS, GO, FIMBank and MPC outweighed the declines in MIA and Trident while six other equities closed unchanged. Download today’s Equity Market Summary.

Hili Properties plc was today’s most actively traded equity as it held the €0.19 level across seven trades totalling 200,000 shares.

Bank of Valletta plc (8,740 shares) and HSBC Bank Malta plc (3,096 shares) also closed unchanged at the €1.32 and €1.29 levels respectively.

BMIT Technologies plc traded flat at the €0.38 level on volumes of 10,827 shares.

A single trade of 1,000 shares left the share price of Plaza Centres plc at the €0.62 level.

MaltaPost plc kept the €0.47 level on trivial volumes. Today, MaltaPost held its Annual General Meeting which approved all resolutions including the final net dividend of €0.02 per share to be paid on 8 March 2024.

FIMBank plc was today’s best performing equity as it surged by 10% to the USD0.22 level across four deals totalling 32,560 shares.

Also in the banking sector, APS Bank plc moved 0.9% higher to recapture the €0.55 level across four trades totalling 25,000 shares.

GO plc advanced by 1.9% to the €3.16 level on a single trade of 850 shares.

Malta Properties Company plc climbed 1.7% higher to the €0.366 level as 5,500 shares changed hands.

In contrast, Trident Estates plc dropped by 3.3% to the €1.17 level across two deals totalling 9,680 shares.

Malta International Airport plc shed 1.8% to the €5.55 level on a single trade of 200 shares.

Today, Mapfre Middlesea plc announced that its Board of Directors is scheduled to meet on Monday 25 March 2024 to consider and approve the annual financial results for the financial year ended 31 December 2023. The Directors will also consider the recommendation of a dividend.


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.