Trading in BOV takes centre-stage

The MSE Equity Price Index opened the week in positive territory as it advanced by 0.26% to 3,610.809 points. BOV, GO and Malita trended higher whilst BMIT Technologies plc traded flat at the €0.466 level albeit on just 5,000 shares. Overall trading activity in equities improved to €0.12 million largely on the back of the volumes transacted in BOV. Download today’s Equity Market Summary.

Most of today’s trading activity took place in the equity of Bank of Valletta plc which climbed by 1.7% to the €0.915 level across 108,335 shares having a market value of €0.1 million.

Also among the large companies by market value, GO plc rebounded by 0.7% from its near two-year low to the €2.94 level across 4,493 shares.

Malita Investments plc also moved 0.7% higher to recapture the €0.73 level on a total of 7,520 shares.

The RF MGS Index moved sharply higher to 870.864 points (+0.81%) as sovereign bond yields in the euro area trended notably lower amid indications of slower activity in the manufacturing and services sectors across the single currency block. Meanwhile, developments taking place in the UK continued to grab headlines as Boris Johnson and Penny Mordaunt withdrew from the Conservative leadership, thus paving the way for Rishi Sunak (UK’s former finance minister) to take over as Prime Minister of the UK.

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.