MSE Equity Price Index slides amid lacklustre activity

The MSE Equity Price Index decreased by 0.53% to a fresh seven-month low of 3,559.598 points. BOV, MIA, HSBC, BMIT, and MaltaPost all ended the session lower while PG plc closed unchanged at the €1.98 level on two trades totalling 1,000 shares. Download today’s Equity Market Summary.

Bank of Valletta plc fell by 1.7% to an almost seven-month low of €1.18 across three trades totalling 9,000 shares.

Also in the banking sector, HSBC Bank Malta plc moved 0.9% lower to the €1.15 level on muted activity.

Malta International Airport plc continued to trade in a tight range as it shed 0.9% back to the €5.55 level as 900 shares changed hands.

A single deal of 11,300 shares pulled the share price of BMIT Technologies plc 2.4% lower to a two-month low of €0.40.

MaltaPost plc decreased by 1.9% to the €0.52 level after partially recovering from an intra-day low of €0.50 (-5.7%) across three trades totalling 3,404 shares.

The RF MGS Index remained virtually unchanged at 871.157 points. Yesterday, the Federal Reserve published the minutes of the last Federal Open Market Committee meeting held earlier this month. The minutes gave no indication of any upcoming rate cuts and committee members agreed that monetary conditions should remain sufficiently restrictive until inflation is stabilised at the 2% level. Fed officials also noted that economic growth is expected to slow in the final quarter of 2023. Elsewhere, oil prices continued to drop with Brent prices hovering below the USD80 level.

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.