Five equities move MSE Equity Price Index Downwards

The MSE Equity Price Index lost 0.58% to 3712.579 points as the declines in APS, BOV, Farsons, Tigne Mall and VBL outweighed the gains in PG and RS2. Meanwhile, a further five equities closed unchanged, as the total trading activity amounted to €0.17 million. Download today’s Equity Market Summary.

Bank of Valletta plc declined by 1.6% to the €1.23 level across seven deals totalling 11,971 shares.

Also in the banking sector, APS Bank plc closed 1.6% lower to the €0.61 level across two trades totalling 2,484 shares.

Tigne Mall plc was today’s worst performer as it slumped by 13.6% to reach a three-month low at the €0.70 level over two trades totalling 703 shares.

Today’s most actively traded equity VBL plc shed 5.5% to the €0.208 level as 340,750 shares changed hands.

Two trades of Simonds Farsons Cisk plc pulled the price 2.1% lower to the €7.1 level.

On the other hand, RS2 Software plc gained 0.8% to reach a six-month high of €1.22 over two deals totalling 900 shares.

Likewise, PG plc closed 1.6% higher at the €1.92 level across three deals totalling 10,416 shares.

International Hotel Investments plc traded flat at the €0.53 level as 3,329 shares changed hands.

Another high market cap equity, Malta International Airport plc, closed unchanged at the €5.50 level over six trades totalling 4,749 shares.

On a single deal of 4,022 shares, Mapfre Middlesea plc held the €1.50 level.

Meanwhile, two property equities AX Real Estate plc and Malita Investments plc both closed unchanged at the €0.45 and €0.60 price levels respectively.

The RF MGS index increased by 0.45% to 872.77 mostly resulting from gains in the long-dated MGS causing the yield curve to flatten. Today, the German 10-year bund yield increased to over 2.51%, recovering over 80 basis points from an intra-day yield low of 2.427%. Last Friday, Eurostat released a report illustrating that the hourly labour costs in the Euro Area in the first quarter of 2023 had a 5% year-over-year increase. Also according to Eurostat, the Euro Area’s job vacancy rate in the same period maintained a relatively high level of 3%. It fell by a slight 0.1 percentage point from the 3.1% vacancy rate present in both the previous quarter and the first quarter of 2022.

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.