MSE Equity Price Index climbs to 7-week high

The MSE Equity Price Index moved higher for the fifth consecutive session as it advanced by a further 0.34% to 3,664.942 points, the highest level in seven weeks. The gains in MIA, BOV, and Farsons outweighed the decline in PG. Meanwhile, three equities closed unchanged as the total trading activity in local equities amounted to €0.08 million. Download today’s Equity Market Summary.

Malta International Airport plc increased by 0.9% to an almost two-month high of €5.75 over six deals totalling 3,200 shares. Today, the largest airline operator at MIA – Ryanair – launched the summer 2024 schedule with over 2.7 million seats for Malta.

Also among large companies by market value, Bank of Valletta plc rose by 0.8% to the €1.23 level across two trades totalling 5,080 shares.

Simonds Farsons Cisk plc advanced by 2.3% to the €6.80 level across three trades totalling 2,469 shares.

In contrast, PG plc eased by 0.5% to a five-month low of €1.89 as 10,000 shares changed hands.

GO plc (3,710 shares) and its subsidiary BMIT Technologies plc (10,000 shares) both held the €2.96 and €0.40 levels respectively.

A single trade of 15,000 shares left the share price of APS Bank plc unchanged at the €0.58 level.

The RF MGS Index increased for the fourth consecutive session as it gained a further 0.50% to a four-month high of 876.751 points. Eurozone sovereign bond yields continued to drop as data indicates a continued drop in inflation, with the German 10-year bund yield falling to a five-month low of 2.42%. A preliminary estimate released today showed that inflation in Germany is expected to fall to the lowest level in over two years of 3.2% in November. The decrease is expected to be driven by the lower growth of food and service prices as well as a sharper drop in energy prices. Meanwhile, in the US, the economy grew by 5.2% in the third quarter of 2023, which was more than forecasted and marked the largest quarterly growth since the first quarter of 2021.

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.