HSBC lifts the MSE Equity Price Index higher

The MSE Equity Price Index opened the week in positive territory as it advanced by 0.17% to a five-week high of 3,667.170 points. The uplift reflects the gain in the share price of HSBC while four other equities closed the day unchanged. Overall trading activity in equities amounted to €0.13 million. Download today’s Equity Market Highlights.

HSBC Bank Malta plc advanced by 2.7% to the €0.75 level across two deals totalling 43,458 shares.

Malta International Airport plc was the most actively traded equity today as it held on to the €6.00 level on a total of 12,000 shares having a market value of €0.07 million.

Also among the large companies by market value, GO plc remained at the €3.02 level albeit on negligible volumes.

GO’s data centre and IT managed services subsidiary – BMIT Technologies plc – traded flat at the €0.48 level across 50,172 shares.

A single deal of 1,200 shares left the share price of PG plc at the €2.20 level.

The RF MGS Index extended its negative streak for the fourth consecutive session as it shed 0.66% to a fresh all-time low of 890.469 points. Sovereign bond yields in the euro area continued to surge amid persistent worries on inflation. In Italy, the 10-year government bond yield rose to a nine-year high of 4.50% following the election victory for the coalition led by the far-right leader Giorgia Meloni. Meanwhile in the UK, the British Pound tumbled to a record low against the US Dollar as markets are anticipating inflation to climb even further following the roll-out of new fiscal stimulus measures.

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.