MSE Equity Price Index dives to five-month low

The MSE Equity Price Index moved 1.54% lower to a five-month low of 3,627.996 points as the gains in GO and HSBC were offset by the declines in BOV, IHI, and MaltaPost, while three other equities closed unchanged. Trading activity in local equities remained elevated with the value traded exceeding the €1 million level. Download today’s Equity Market Summary.

International Hotel Investments plc was today’s worst performer as it plummeted by 14.9% to an all-time low of €0.434 level, albeit on a single trade of 1,695 shares.

MaltaPost plc dropped by 9.8% to an over two-month low of €0.37 over two trades of 9,654 shares.

Bank of Valletta plc shed 4% to the €1.21 level across thirteen trades totalling 54,016 shares. BOV partially recovered from an intraday low of €1.20 (-4.8%.)

Also in the banking sector, HSBC Bank Malta plc moved 1.7% higher to the €1.17 level across four deals amounting to 1,509 shares.

Also among large companies by market cap, GO plc advanced by 2.1% to the €2.86 level on a single trade of 1,800 shares.

Tigné Mall plc was by far the most actively traded equity for the second consecutive session as over 1.18 million shares changed hands having a market value of just under €1 million. Tigné Mall closed unchanged at the €0.82 level after failing to hold to an intraday high of €0.84 (+2.4%).

Malta International Airport plc closed unchanged at the €5.65 level after opening at a low of €5.60 (-0.9%). A total of 1,800 shares changed hands.

APS Bank plc traded flat at the €0.60 level on volumes totalling 10,000 shares.

The RF MGS Index extended yesterday’s gains as it increased by a further 0.13% to 848.359 points. Data published today showed that during the month of September, the US labour market added double the amount of new jobs than expected, and also higher than the previous month. Furthermore, unemployment remained at the 3.8% level, signalling a tight labour market. The resilience of the US labour market is widely expected to support interest rates at higher levels. In fact, following the announcements, the US 10-year treasury yield climbed to a fresh 16-year high of 4.85%.

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.