MSE Equity Price Index extends uplift

The MSE Equity Price Index moved 0.47% higher to a one-month high of 3,631.857 points as the gains in BOV, FIMBank, GO, and IHI outweighed the declines in APS and MaltaPost. Meanwhile, MIA and HSBC closed unchanged as overall trading activity remained muted. Download today’s Equity Market Summary.

Bank of Valletta plc advanced by 0.84% to the €1.20 level across four deals totalling 11,556 shares.

Within the same sector, FIMBank plc surged by 5% to the USD0.21 level on a single trade of 1,000 shares.

GO plc surged by 4.3% to the €2.90 level across volumes of 4,991 shares.

Also among large companies by market value, International Hotel Investments plc climbed 2.2% to the €0.47 level as 9,372 shares changed hands.

Malta International Airport plc closed unchanged at the €5.70 level across three trades totalling 280 shares.

HSBC Bank Malta plc closed unchanged at the €1.20 level as 6,976 shares changed hands.

APS Bank plc reversed most of last Friday’s gains as it retreated by 4.9% to the €0.58 level on one trade of 1,000 shares.

MaltaPost plc shed 1.9% to the €0.51 level, albeit over trivial volumes.

The RF MGS Index snapped a three-day losing streak as it increased by 0.24% to 868.516 points. In a speech last Friday, the Governor of the Central Bank of Malta, Prof. Edward Scicluna explained how the ECB has prioritised tackling inflation, with references to several ECB rate hikes, halting the reinvestment of Asset Purchase Program securities, and repaying long-term refinancing operations.  As a result, Euro Area inflation eased to 2.9% in October and it is forecasted to reach 2.0% by 2025. Meanwhile, Malta’s inflation fell to 4.2% last October, after peaking at 7.2% in December 2022. Prof. Scicluna noted that both the IMF and the European Commission are expecting a gradual reduction in energy subsidies and remarked that fiscal support must be targeted and temporary. The Governor concluded that it would be unwise to assume that a cut in policy rates for the Euro Area is imminent or that we are at the end of the current monetary policy tightening cycle.

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.