Muted activity across local equities

The MSE Equity Price Index eased by 0.67% to 3,647.666 points driven by the declines of BOV and HSBC. Meanwhile, five other equities closed unchanged as the total trading value in local equities amounted to just €13,873, the lowest since last January. Download today’s Equity Market Summary.

HSBC Bank Malta plc shed 2.4% to the €1.21 level across three deals totalling 5,114 shares.

Similarly, a single trade of 2,900 shares pulled the share price of Bank of Valletta plc 2.4% lower to the €1.22 level.

Malta Properties Company plc traded flat at the €0.35 level on two trades totalling 5,800 shares.

The Convenience Shop (Holding) plc held the €1.05 level as 1,450 shares changed hands.

International Hotel Investments plc remained unchanged at the €0.466 level on a single deal of 300 shares.

GO plc and PG plc closed unchanged at the €2.90 and €2.08 levels respectively on trivial volumes.

The RF MGS Index moved 0.50% lower to 886.491 points, reversing some of the strong gains seen last week. Data published last Friday confirmed that in Germany, inflation during November eased to an over-two-year low of 2.3%, compared to 3.0% in October. This was driven by a sharper decline in energy prices as well as a slowdown in the increase of food and alcohol prices. Meanwhile, a jobs report released in the US showed that the labour market continued to tighten as unemployment fell to a four-month low of 3.7%, which was 0.2 percentage points lower than forecasted. Furthermore, during November, both the additional number of jobs created as well as the increase in the average hourly wage were more than anticipated.

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.