Mixed movements across the local equity market

The MSE Equity Price Index dropped by a further 0.16% to 3,734.377 points as the declines in IHI and MIA outweighed the gains in APS, BMIT, GO, MaltaPost and M&Z. Meanwhile, three other equities closed unchanged. Download today’s Equity Market Summary.

Malta International Airport plc shed 1.8% to the €5.60 level after failing to hold onto an intraday high of €5.75 (+0.9%) across eight deals amounting to 5,400 shares.

International Hotel Investments plc slumped by 4.2% to the €0.412 level on a single trade of 2,816 shares.

On the other hand, APS Bank plc rose by 3.0% to the €0.515 level across three deals totalling 12,300 shares. Today, APS announced that its Board of Directors is scheduled to meet on Thursday 25 July 2024 to consider the approval of the interim financial results covering the six-month period ended 30 June 2024. The Directors will also consider the declaration of an interim dividend, subject to regulatory approval.

GO plc moved 0.7% higher to the €2.94 level on two trades amounting to 820 shares.

GO’s digital infrastructure subsidiary BMIT Technologies plc gained 1.7% to the €0.35 level over three deals amounting to 17,400 shares.

MaltaPost plc surged by 6.7% to the €0.448 level as 46,000 shares changed hands.

M&Z plc climbed by 3.6% to the €0.58 level on two trades of 13,000 shares.

Meanwhile, the preference shares of RS2 plc traded flat at the €0.80 level on two deals totalling 37,575 shares.

Bank of Valletta plc closed unchanged at the €1.44 level after recovering from an intraday low of €1.42 (-1.4%) level across seven trades amounting to 46,000 shares

Malita Investments plc held the €0.48 level on one deal of 4,150 shares

Yesterday, LifeStar Insurance plc and LifeStar Holding plc announced that the Board of Directors is scheduled to meet on Monday 8 July 2024 to consider the approval of the financial statements for the year ended 31 December 2023.

The RF MGS Index snapped a five-day losing streak as it rose by 0.28% to 886.991 points. Data released today showed month-over-month producer prices in the eurozone during May declined more than anticipated and fell for the seventh consecutive month. Yesterday, ECB Chair Christine Lagarde remarked that the services inflation was the more challenging to tackle and more data is required to assess whether it remained persistent in recent months. Furthermore, the private sector in the Eurozone and the UK grew more than expected during June driven by the services sector. On the other hand, the private services sector in the US unexpectedly declined during June, registering the steepest contraction since April 2020.

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.