Four equities pull MSE Price Index lower

The MSE Equity Price Index fell by 0.30% to 3,770.865 points as the declines in BOV, MIA, Hili Properties and Malita outweighed the gains in APS, PG and Tigné Mall. Meanwhile, three other equities closed unchanged as today’s local trading activity amounted to €0.32 million. Download today’s Equity Market Summary.

Once again Bank of Valletta plc made up the majority of today’s trading as 122,124 shares changed hands having a market value of €0.17 million. The share price shed 0.7% to a one-week low of €1.40 after partially recovering from an intraday low of €1.39 (-1.4%). Shareholders as at close of trading on 26 April 2024 will be entitled to a final net dividend of €0.0455 per share.

Malta International Airport plc moved 0.8% lower to the €5.85 level on two trades of 7,200 shares. The company is soon expected to publish its Q1 traffic results.

Similarly, Malita Investments plc reversed yesterday’s gains as it declined by 1.2% to the €0.49 level over two deals amounting to 110,000 shares. Malita’s Rights Issue offer period will close tomorrow Friday 5 April 2024.

Hili Properties plc slumped by 10.6% to a one-month low of €0.186 as 9,500 shares changed hands.

On the other hand, a single deal of 2,700 shares of PG plc pushed its share price 1.0% higher to the €2.02 level.

APS Bank plc gained 1.8% to reach the €0.56 level across three trades amounting to 5,804 shares. Shareholders as at close of trading tomorrow 5 April 2024 will be entitled to a final net dividend of €0.015 per share. Shareholders will have the option to receive the dividend either in cash or in new ordinary shares at an attribution price of €0.55 per share.

Tigné Mall plc advanced by 1.2% to the €0.83 level on one deal of 2,900 shares.

Meanwhile, HSBC Bank Malta plc closed unchanged at the €1.40 level after recovering from an intraday low of €1.39 (-0.7%) over six trades totalling 18,268 shares. HSBC will be holdings its AGM on 18 April.

GO plc held the €3.08 level on a single deal of 5,000 shares. Shareholders as at close of trading on 26 April 2024 will be entitled to a final net dividend of €0.05 per share.

Mapfre Middlesea plc remained unchanged at the €1.39 level on one trade of 1,512 shares. Shareholders as at close of trading on 8 May 2024 will be entitled to a final net dividend of €0.048913 per share.

The RF MGS Index snapped a three-day losing streak as it rose by 0.12% to 894.722 points. Today, the ECB released the minutes of its monetary policy meeting last March, which hinted at a rate cut in the upcoming June meeting when the governing council will have access to more data, particularly regarding wage dynamics. Furthermore, the ECB projected that inflation in 2024 will average 2.3% in 2024 compared to the 2.7% forecasted last December. Moreover, the ECB revised its growth outlook for 2024 downwards to 0.6% and concluded that the risks to the economic growth outlook are tilted to the downside going forward. In this respect, the ECB discussed that weaker-than-expected economic activity may not necessarily lead to disinflationary pressures.

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.