Local equity market posts four-day positive streak

The MSE Equity Price Index moved higher for the fourth consecutive session as it advanced by 0.64% to a fresh 9-week high of 3,652.675 points. The gains in BOV, GO, Farsons, and IHI outweighed the declines in PG and the ordinary shares of RS2. Meanwhile, Malta International Airport plc made up most of the day’s trading activity as it traded flat at the €5.70 level as 49,570 shares changed hands. Download today’s Equity Market Summary.

Bank of Valletta plc advanced by 1.7% to a one-week high of €1.22 over three deals totalling 11,180 shares.

GO plc surged by 2.1% to a three-month high of €2.96 across four trades totalling 7,400 shares.

Also among large companies by market value, Simonds Farsons Cisk plc rose by 2.3% to a one-week high of €6.65 across three trades totalling 1,363 shares.

International Hotel Investments plc gained 4.3% to a one-month high of €0.49, albeit on lacklustre volumes.

In contrast, the ordinary shares of RS2 plc shed 0.9% to a two-week low of €1.09 as 7,832 shares changed hands.

PG plc fell by 3.1% to a three-week low of €1.90 level on muted activity.

The RF MGS Index extended yesterday’s gains as it rose by 0.44% to 872.356 points. During a speech delivered today, Bundesbank chief Joachin Nagel said that he expects the economy to rebound in the next year. Nonetheless, he pointed out that in view of the resilient wage growth and the potential volatility in energy prices, the inflation outlook can still worsen. In this context, he emphasised that the current hike cycle is not necessarily over.

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.