MSE Equity Price Index drops to five-month low

The MSE Equity Price Index slumped by 1.1% to 3,596.621 points, the lowest level since the end of April driven by declines in eleven equities. Meanwhile, only BOV and GO traded in positive territory while four other equities closed unchanged. Despite activity across 17 equities, the value traded was relatively muted at €0.13 million. Download today’s Equity Market Summary.

Lombard Bank Malta plc shed 2.6% to the €0.76 level on a single trade of 16,816 shares. Lombard shareholders as at the close of trading on 15 September 2023 are entitled to participate in a 2-for-3 rights issue until Thursday 26 October 2023.

Also in the banking sector, FIMBank plc declined by 9.1% to a six-week low of USD0.20 on one deal of 8,054 shares.

A single trade of 3,389 shares pulled the share price of International Hotel Investments plc 12.0% lower to the €0.44 level.

Also among large companies by market capitalisation, the ordinary shares of RS2 plc moved 1.6% lower to a four-month low of €1.20, albeit on trivial volumes.

Simonds Farsons Cisk plc shed 2.2% a sixteen-month low of €6.55 across four trades totalling 3,099 shares.

BMIT Technologies plc shed 1.4% to a two-week low of €0.412 after partially recovering from an intra-day low of €0.38 (-9.1%) across four trades totalling 13,500 shares.

Malita Investments plc fell by 7.4% to a multi-year low of €0.50 over three deals amounting to 12,500 shares.

Also in the property sector, Trident Estates plc dropped by 3.4% to an all-time low of €1.15 across two trades totalling 2,381 shares.

The shares of Tigné Mall plc declined by 8.5% to a 12-week low of €0.75 on two deals totalling 6,950 shares.

Plaza Centres plc slumped by 21.5% to a twelve-year low of €0.51 as 6,000 shares changed hands.

AX Real Estate plc eased by 0.4% to the €0.45 level on muted activity.

In contrast, Bank of Valletta plc gained 2.5% to a one-week high of €1.24 across five deals amounting to 22,196 shares.

GO plc climbed 2.9% higher to the €2.88 level on a single deal of 5,000 shares.

Meanwhile, Malta International Airport plc traded flat at the €5.50 level as 3,095 shares changed hands.

A single trade of 23,013 shares left the share price of APS Bank plc unchanged at the €0.59 level.

Mapfre Middlesea plc and Malta Properties Company plc both held the €1.30 and €0.392 levels respectively on muted activity.

The RF MGS Index declined by 0.28% to 847.787 points as yield across the major sovereign bond markets continued to increase. The 10-year German bund yield climbed to the 2.88% level compared to a low of 2.70% last week. Similarly, the US 10-year Treasury yield also increased to the 4.83% level compared to around the 4.60% last week. Data published today showed that retail sales in the US increased much more than expected, illustrating that despite the higher interest rate environment, consumer spending remained resilient.

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.