Weak trading activity across local equities

The MSE Equity Price Index advanced by 0.20% to 3,724.705 points as the decline in GO was offset by the gains in BOV and MPC. Meanwhile, MIA and PG ended the session unchanged. The overall trading activity was minimal, with trading value below the €0.10 million level for the third consecutive session. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity as it climbed 1.4% higher to the €1.43 level across nine deals totalling 20,060 shares.

Malta Properties Company plc increased by 3.2% to the €0.32 level on two trades totalling 2,500 shares.

In contrast, GO plc fell by 1.4% to the €2.90 level as 3,783 shares changed hands.

PG plc traded flat at the €1.94 level on three deals totalling 6,990 shares. Yesterday, PG announced that the company’s Board of Directors resolved to distribute a net interim dividend of €0.0416667 per share, unchanged when compared to the interim dividend paid out in July 2023. Shareholders of PG as at close of trading on Wednesday 3 July 2024 will be entitled to receive the dividend on Friday 12 July 2024. Coupled with the interim dividend of €0.025463 per share paid out in December 2023, the total net dividend per share for the financial year ended 30 April 2024 amounts to €0.0671 per share, representing a 7.4% increase over the total net dividend of €0.0625 for the previous financial year.

Malta International Airport plc held the €5.65 level across two trades totalling 3,200 shares.

Today, Grand Harbour Marina plc declared an unchanged net interim dividend of €0.01716 per share. The dividend is payable on 15 July 2024 to shareholders as at close of trading on 4 July 2024.

The RF MGS Index moved 0.11% lower to 891.593 points. The German consumer climate weakened further according to an economic indicator after having registered improvements in previous five consecutive months. The uptick in inflation in May was attributed to have caused more uncertainty among consumers. Meanwhile in the US, home sales fell 11.3% in May when compared to the previous month as the higher prices and borrowing rates continued to impact affordability.

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.