BOV climbs to 7-week high

The MSE Equity Price Index advanced by 0.33% to 3,730.225 points as the gains in BOV, IHI and Mapfre Middlesea outweighed the declines in Malita, Main Street and the preference shares of RS2. Meanwhile, seven other equities ended the session unchanged. Download today’s Equity Market Summary.

Bank of Valletta plc closed the session 0.7% higher to a 7-week high of €1.44 as 26,818 shares changed hands.

BOV’s insurance associate – Mapfre Middlesea plc – climbed 1.5% higher to the €1.34 level on four deals totalling 5,768 shares.

A single trade of 10,000 shares pushed the share price of International Hotel Investments plc 4.4% higher to the €0.43 level.

In contrast, one deal of 4,563 shares pulled the preference shares of RS2 plc 12.1% lower to the €0.80 level.

Main Street Complex plc eased by 0.6% to the €0.342 level after partially recovering from an intraday low of €0.30 (-12.8%) across volumes totalling 4,650 shares.

Malita Investments plc fell by 4.2% to the €0.46 level on a single trade of 2,000 shares.

GO plc traded flat at the €2.90 level across volumes totalling 1,370 shares.

GO’s digital infrastructure subsidiary BMIT Technologies plc held the €0.35 level on muted activity.

Malta International Airport plc closed unchanged at the €5.70 level across eight deals totalling 3,093 shares.

Also among the large companies by market value, HSBC Bank Malta plc stayed at the €1.50 level on a single trade of 2,000 shares.

Malta Properties Company plc (€0.32), MaltaPost plc (€0.448) and Hili Properties plc (€0.208) also closed unchanged across muted activity.

The RF MGS Index fell for the third consecutive day as it eased by a further 0.04% to 887.811 points reflecting the increase in long-term MGS yields. The latest ECB Consumer Expectations Survey showed that the median expectations for euro area inflation over the next 12 months moved lower to 2.8% from 2.9% in April and marked the lowest reading since September 2021. Meanwhile in the US, the personal consumption expenditures index slowed to 2.6%, the lowest reading in more than three years and in line with expectations.

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.