MSE Equity Price Index drops to 5-month low

The MSE Equity Price Index moved lower for the third consecutive session as it lost a further 0.69% to 3,693.886 points, the lowest level since December 2023. The declines in six equities outweighed the gains in AX Real Estate and BMIT, while another three equities ended the session unchanged. Trading activity was muted across the eleven equities which traded today. Download today’s Equity Market Summary.

APS Bank plc shed 3.7% an all-time low of €0.52 across seven deals totalling 28,708 shares.

Also in the banking sector, Bank of Valletta plc moved 1.4% lower to the €1.40 level across four deals amounting to 17,084 shares. BOV is holding its Annual General Meeting on Friday 31 May.

Lombard Bank Malta plc plunged by 4.5% to the €0.75 level as 4,778 shares changed hands. Shareholders as at close of today’s trading will be entitled for a final net dividend per share of €0.0106, subject to regulatory approval as well as shareholders’ approval during the upcoming Annual General Meeting scheduled to be held on 27 June 2024.

HSBC Bank Malta plc eased by 0.7% to the €1.40 level on a single deal of 1,236 shares.

Trident Estates plc fell by 1.5% to the €1.28 level on two trades totalling 2,005 shares. Trident is expected to publish the full-year results for the financial year ended 31 January 2024 on Thursday 30 May.

Malta International Airport plc declined by 1.8% to the €5.60 level across three deals totalling 740 shares.

BMIT Technologies plc was today’s best performing equity as it rebounded by 8.6% to the €0.38 level across four trades totalling 9,500 shares. BMIT is holding its Annual General Meeting on Wednesday 29 May.

AX Real Estate plc climbed 2.1% to the €0.49 level across volumes of 2,538 shares.

A single trade of 5,208 shares left the share price of FIMBank plc at the USD0.19 level.

Simonds Farsons Cisk plc (1,190 shares) and Malita Investments plc (4,450 shares) closed unchanged at the €0.48 and €6.75 levels respectively. Farsons is expected to publish the full-year results for the financial year ended 31 January 2024 on Wednesday 29 May. Malita is holding its Annual General Meeting on Thursday 30 May.

The RF MGS Index fell by 0.26% to a four-week low of 888.158 points as eurozone sovereign bond yields continued rising further, with the German 10-year yield touching a 6-month high of 2.60%. In contrast, crude oil prices continued to weaken with WTI crude futures easing below the USD77 per barrel level, the lowest in three-months, as data pointed towards lower energy demand and higher-than-anticipated inventory levels in the US.

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.