RF MGS Index falls to an all-time low

The MSE Equity Price Index gained 0.29% to a fresh four-week high of 3,771.687 points as the gains in BOV and Hili Properties outweighed the declines in MIA and Lombard. Meanwhile, three other equities closed unchanged as the total trading activity in local equities amounted to €0.36 million. download today’s Equity Market Summary.

Bank of Valletta plc closed 1.7% higher at a two-week high of €1.23 across eight trades totalling 18,324 shares.

Hili Properties plc was today’s best performing equity as it surged by 6.2%, closing at a five-month high of €0.24 over five deals totalling 200,000 shares.

Lombard Bank Malta plc was today’s most actively traded equity as 250,000 shares changed hands over four trades. The Bank’s share price only partially recovered from an intra-day low of €0.92 (-4.2%) to end the day 1% lower at the €0.95 level. .

Similarly, Malta International Airport plc shed 0.9% to the €5.55 level across three deals totalling 4,700 shares.

Meanwhile, the equities of HSBC Bank Malta plc and APS Bank plc traded flat at the €1.20 and €0.60 levels respectively.

Likewise, Simonds Farsons Cisk plc closed unchanged at the €7.00 level albeit on trivial volumes.

The RF MGS Index trended lower for the fourth consecutive day as it eased by a further 0.51% to an all-time low of 861.497 points. This reflects a further recovery in eurozone yields with the benchmark 10-year German Bund yield exceeding the 2.65% level for the first time in three months. Yields in the US and Europe have rebounded recently as both the European Central Bank and the US Federal Reserve are likely to hike rates further given that inflation is expected to persist.

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.