BOV dominates trading activity

The MSE Equity Price Index rose by 0.19% to 3,782.031 points as the gains in BMIT, The Convenience, Malita, and Trident outweighed the declines in BOV, AX Real Estate, and the preference shares of RS2. Meanwhile, APS Bank plc held the €0.55 level across three trades totalling 11,600 shares. Download today’s Equity Market Summary.

Nearly 80% of today’s value traded was across the shares of Bank of Valletta plc which shed 0.7% to the €1.41 level after partially recovering from an intraday low of €1.40 (-1.4%) across thirteen deals totalling 79,499 shares having a market value of €0.11 million.

The preference shares of RS2 plc plummeted by 15.8% to an all-time low of €1.01 on a single deal of 1,350 shares.

AX Real Estate plc declined by 2% to a three-month low of €0.49 on a single trade of 1,262 shares.

Malita Investments plc advanced by 1.2% to the €0.496 level as 34,400 shares changed hands. Malita’s Rights Issue offer period will close on Friday 5 April 2024.

Trident Estates plc rebounded by 15.7% to a four-month high of €1.33 on two deals totalling 3,865 shares.

The Convenience Shop (Holding) plc surged by 15.6% to the €1.04 level as 750 shares changed hands.

A single trade of 1,200 shares pushed the share price of BMIT Technologies plc 3.2% higher to the €0.384 level.

The RF MGS Index fell by 0.20% to a two-week low of 893.610 points as yields across the international markets moved higher with the US 10-year treasury yield reaching a four-month high of 4.40%. Data released today showed that inflation in the Euro Area during March unexpectedly declined to 2.4% compared to expectations of 2.6%. Similarly, core inflation slowed to 2.9% from 3.1% in February and estimates of 3.0%. Meanwhile, eurozone unemployment during February remained flat at 6.5% falling short of the expectations of a slight downward revision.

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.