Four equities drift lower on lacklustre volumes

The MSE Equity Price Index fell by 0.17% to 3,705.982 points as the declines in MIA, Hili Properties, MaltaPost, and Malita outweighed the gain in APS. Meanwhile, five other equities closed unchanged, but the overall trading activity in local equities was muted at just €0.10 million. Download today’s Equity Market Summary.

Hili Properties plc shed 2.8% to the €0.21 level on two deals totalling 17,500 shares. Shareholders of Hili Properties as at the close of trading on Friday 21 June will be entitled for a final net dividend of €0.0108 per share, subject to approval at the upcoming Annual General Meeting to be held on Tuesday 25 June 2024.

Also in the property sector, Malita Investments plc declined by 2.1% to a one-month low of €0.47 on a single trade of 10,000 shares.

Malta International Airport plc moved 0.9% lower to the €5.60 level across five trades amounting to 2,237 shares.

MaltaPost plc dropped by 2.2% to the €0.45 level on muted activity.

On the other hand, APS Bank plc moved 1.0% higher to the €0.525 level as 2,017 shares changed hands.

PG plc traded flat at the €1.96 level across three trades totalling 8,450 shares. Last Saturday, PG announced that its Board of Directors is scheduled to meet on Tuesday 25 June 2024 to consider the distribution of an interim dividend.

Simonds Farsons Cisk plc closed unchanged at the €7.15 level over trivial volumes. Farsons’ shareholders as at the close of today’s trading are entitled to a final net dividend of €0.11 per share, subject to approval at the upcoming Annual General Meeting scheduled for Thursday 27 June.

Bank of Valletta plc closed unchanged at the €1.40 level after failing to hold onto an intraday high of €1.41 (+0.7%) across ten trades amounting to 35,290 shares.

Also in the banking sector, Lombard Bank Malta plc held the €0.75 level on two deals totalling 7,295 shares.

A single trade of 2,962 shares left the share price of AX Real Estate plc unchanged at the €0.49 level.

Today, VBL plc announced that its Board of Directors is scheduled to meet on Wednesday 5 June 2024 to consider the declaration of a final dividend.

Furthermore, Mapfre Middlesea plc announced that its Board of Directors is scheduled to meet on Monday 29 July 2024 to consider the approval of the interim financial results covering the six-month period ending 30 June 2024.

The RF MGS Index rose by 0.1% to 888.179 points. Data released today showed that the contraction of the manufacturing industry in the Euro Zone during May was revised lower as a greater-than-anticipated contraction in Italy and France outweighed a higher-than-projected growth in Spain. Nonetheless, it is still the lowest rate of decline in Eurozone manufacturing since March 2023. Meanwhile in the US, data released on Friday evening suggested that personal spending as well as core personal consumption expenditure prices were lower than expected during April.

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.