MSE Equity Price Index reaches two-week high

The MSE Equity Price Index increased by 0.73% to 3,720.089 points, the highest level in two weeks. The gains in APS, BMIT, BOV, Lombard, and VBL outweighed the decline in HSBC while two other equities closed unchanged. Trading activity in local equities was muted at just €0.08 million. Download today’s Equity Market Summary.

APS Bank plc was today’s most actively traded equity as it surged by 5.7% to an almost three-month high of €0.56 level across eight deals amounting to 52,251 shares. APS will publish its interim financial results on Thursday 25 July 2024 and the Directors will also consider the declaration of an interim dividend.

Also in the banking sector, Bank of Valletta plc moved 0.7% higher to the €1.46 level across three trades amounting to 7,066 shares. Yesterday, BOV announced that its Board of Directors is scheduled to meet on Monday 29 July 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024.

Lombard Bank Malta plc gained 2.6% to the €0.79 level on muted activity.

BMIT Technologies plc rose by 3.5% to the €0.356 level on a single trade of 4,200 shares. Today, BMIT announced that its Board of Directors is scheduled to meet on Tuesday 6 August 2024 to consider the approval of interim financial statements for the six-month period ended 30 June 2024.

VBL plc rebounded by 41.3% to the €0.226 level albeit over trivial volumes. VBL is holding its Annual General Meeting on Friday 26 July 2024.

On the other hand, HSBC Bank Malta plc fell by 1.3% to the €1.58 level on two deals amounting to 6,010 shares. HSBC will publish its interim results on Wednesday 31 July 2024 and the Directors will also consider the declaration of an interim dividend.

Malta International Airport plc closed unchanged at the €5.55 level across seven trades amounting to 4,130 shares. MIA’s Board of Directors is scheduled to meet on Thursday 1 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024. The Directors will also consider the declaration of an interim dividend.

GO plc traded flat at the €2.94 level as 1,445 shares changed hands. Today, GO announced that its Board of Directors is scheduled to meet on Friday 9 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024.

The RF MGS Index fell by 0.17% to a one-week low of 895.480 points. Today, the ECB Vice-President Luis de Guindos said the ECB intends to wait for updated inflation forecasts, which should be available before the ECB’s monetary policy meeting in September before considering further rate cuts.  In this respect, he explained that the projected inflation as at the end of 2025 needs to reach the target rate of 2%, which would be in line with the trend shown in the ECB’s latest forecasts published last June. Meanwhile in the US, fresh data showed that seasonally adjusted home sales in June fell by 5.4%, the sharpest monthly decline since 2022. In this respect, home sales declined for the fourth consecutive month and reached the smallest amount since the start of the year.