Daily Market Highlights

July 21, 2022

MSE Equity Price Index extends decline on low volumes

 

The MSE Equity Price Index moved lower for the fifth consecutive trading session as it eased by a further 0.02% to 3,678.801 points. Malita and Loqus trended in negative territory whilst APS, AX Real Estate and MPC closed the day unchanged. Overall trading activity in equities contracted sharply to just €0.01 million. Download today’s Equity Market Summary.

Malita Investments plc shed 3.4% to a five-year low of €0.70 on 2,000 shares.

Loqus Holdings plc tumbled nearly 16% back to the €0.16 level across 40,000 shares.

A single deal of 1,130 shares left the share price of Malta Properties Company plc at the €0.498 level.

AX Real Estate plc stayed at the €0.55 level after opening at a high of €0.56. A total of 1,402 shares changed hands.

APS Bank plc traded flat at the €0.66 level albeit on trivial volumes. The Bank is due to publish its interim results on 28 July.

Today, Bank of Valletta plc announced that its Board of Directors is scheduled to meet on Thursday 28 July to consider and approve the interim financial statements for the six-month period ended 30 June 2022. The Directors will also consider the declaration of an interim dividend, subject to regulatory approval. The equity remained inactive today.

Similarly, Tigné Mall plc noted that it will be publishing its interim results on Thursday 4 August. The Directors will also consider the declaration of an interim dividend.

The RF MGS Index extended its recent downward trend as it slipped by a further 0.52% to 932.587 points. In Italy, Prime Minister Mario Draghi resigned again as he did not gather enough support from the various political parties to form a government. Meanwhile, during the monetary policy meeting concluded today, the European Central Bank raised its key interest rate by 50 basis points to 0% and also launched a new ‘Transmission Protection Instrument’ (“TPI”) aimed at enabling the effective transmission of monetary policy. The ECB also indicated that it will increase interest rates further in the coming months whilst the scale of TPI purchases will depend on the severity of the risks facing monetary policy transmission.

 

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.