Varied price movements across local equities

The MSE Equity Price Index fell by 0.16% to 3,889.533 points as the declines in BOV, MIA, PG, Farsons as well as the ordinary and preference shares of RS2 outweighed the gains in Hili Properties and MaltaPost. Meanwhile, five other equities closed unchanged as the total trading activity in local equities amounted to €0.19 million. Download today’s Equity Market Summary.

The preference shares of RS2 plc declined by 4.9% to the €1.37 level after partially recovering from an intraday low of €1.00 (-30.6%) across eight deals totalling 57,755 shares.

Similarly, the ordinary shares of RS2 plc eased by 0.8% to the €1.18 level after partially recovering from a low of €1.00 (-16.0%) on two trades amounting to 3,678 shares.

Bank of Valletta plc moved 0.7% lower to the €1.34 level across eight trades totalling 32,620 shares.

Also among large companies by market cap, Malta International Airport plc shed 2.6% to a two-week low of €5.65 as 1,340 shares changed hands.

PG plc fell by 0.9% to the €2.10 level on two deals totalling 5,000 shares.

A single trade of 280 shares pulled the share price of Simonds Farsons Cisk plc 0.7% lower to the €6.95 level.

On the other hand, Hili Properties plc erased yesterday’s losses as it rebounded by 18.9% to the €0.214 level on two deals totalling 25,000 shares.

MaltaPost plc rose by 9.3% to the €0.47 level on a single deal of 5,000 shares. MaltaPost shareholders as at close of trading on Monday 8 January will be eligible to receive a final net dividend of €0.02 per share. Shareholders will have the option to receive the dividend either in cash or by the issue of new shares at the attribution price of €0.44 per share.

APS Bank plc closed unchanged at the €0.54 level after failing to hold onto an intraday high of €0.55 (+1.9%) across five trades totalling 36,466 shares.

Also in the banking sector HSBC Bank Malta plc (5,350 shares) and Lombard Bank Malta plc (13,523 shares) closed unchanged at the €1.30 and €0.90 levels respectively.

Malta Properties Company plc closed unchanged at the €0.392 level after recovering from an intraday low of €0.338 (-13.8%) across four deals amounting to 34,451 shares.

Also in the property sector, Trident Estates plc held the €1.27 level on trivial volumes.

The RF MGS Index fell by 0.71% to a three-week low of 896.344 points. Inflation in the Euro Area during December is expected to have risen to 2.9% from 2.4% last November, largely due to the impact of the reduction in energy subsidies. In fact, core inflation which excludes energy and food prices eased to 3.4% compared to 3.6% in November.  Meanwhile in the US, the labour market continued to remain resilient despite the tighter monetary conditions as the number of new jobs added during December exceeded forecasts. Furthermore, the unemployment rate in the US during December remained steady at 3.7% despite an expected rise to 3.8%.

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.