MSE Equity Price Index falls to a two-month low

The MSE Equity Price Index fell by 0.82% to a two-month low of 3,739.982 points as the declines in six equities, including HSBC and MIA, outweighed the gains in BOV, MPC and the ordinary shares of RS2. Download today’s Equity Market Summary.

HSBC Bank Malta plc shed 0.7% to the €1.39 level across two trades totalling 49,077 shares. HSBC will be holding its Annual General Meeting on 18 April.

A single trade of 125 shares of Malta International Airport plc forced its share price 1.7% lower to the €5.75 level. The company is soon expected to publish its Q1 traffic results.

Simonds Farsons Cisk plc slumped by 4.3% to an almost two-week low of €6.65 on one trade of 660 shares.

Tigné Mall plc declined by 1.2% to the €0.82 level on muted activity.

Similarly, MIDI plc and LifeStar Holding plc both ended lower at €0.24 and €0.20 respectively over trivial volumes.

Once again Bank of Valletta plc made up the majority of today’s trading activity as 102,750 shares changed hands having a market value of €0.14 million. The Bank’s share price advanced by 0.7% to the €1.41 level. Shareholders as at close of trading on 26 April 2024 will be entitled to a final net dividend of €0.0455 per share.

Malta Properties Company plc rose by 0.7% to the €0.286 level across three deals totalling 5,000 shares, after failing to hold onto an intraday high of €0.32 (+12.7%).

The ordinary shares of RS2 plc moved 2.0% higher to the €1.02 level on one trade of 4,000 shares.

Meanwhile, Malita Investments plc traded flat at the €0.49 level as 65,600 shares changed hands. Malita’s Rights Issue offer period closed today.

The RF MGS Index rose by 0.31% to 897.535 points notwithstanding a rebound in the benchmark 10-year German Bund yield to just below the 2.4% level. The rebound gained further momentum following the publication of better-than-expected employment data in the US as hiring exceeded expectations and wages continued to increase. As a result, the US Federal Reserve is likely to delay any interest rate cuts to later in the year.