Local banks dominate trading activity

The MSE Equity Price Index rose by 0.4% to an almost two-month high of 3,863.078 points as the gains in the ordinary shares of RS2 and Mapfre Middlesea outweighed the decline in BOV, HSBC, Hili Properties, PG and Farsons. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.13 million. Download today’s Equity Market Summary.

Bank of Valletta plc accounted for nearly half of today’s trading activity as it eased by 0.7% to the €1.36 level after partially recovering from an intraday low of €1.35 (-1.5%) across nine deals totalling 38,725 shares.

Also in the banking sector, HSBC Bank Malta plc shed 0.7% to the €1.44 level after partially recovering from an intraday low of €1.40 (-3.4%) across eight trades totalling 27,682 shares.

Hili Properties plc slumped by 4.8% to the €0.20 level on a single deal of 20,000 shares.

A single trade of 900 shares pulled the share price of PG plc 1% lower to the €2.04 level.

Simonds Farsons Cisk plc decreased by 0.7% to the €6.70 level on two deals totalling 239 shares.

The ordinary shares of RS2 plc surged by 9.4% to the €1.16 level across two trades totalling 3,100 shares. Today’s volume-weighted average price was of €1.024 (-3.3%).

Mapfre Middlesea plc climbed by 11.5% to the €1.45 level, albeit on trivial volumes.

BMIT Technologies plc traded flat at the €0.37 level as 14,300 shares changed hands.

BMIT’s parent company GO plc closed unchanged at the €3.16 level after recovering from a low of €3.14 (-0.6%) across two trades totalling 1,200 shares.

APS Bank plc held the €0.55 level across three trades amounting to 18,400 shares.

MaltaPost plc closed unchanged at the €0.47 level after recovering from an intraday low of €0.44 (-6.4%) over five deals totalling 23,658 shares.

Today, Malta Properties Company plc announced that its Board of Directors is scheduled to meet on Thursday 21 March 2024 to consider and approve the financial statements for the year ended 31 December 2023. The Directors will also consider the declaration of a dividend.

The RF MGS Index rose by 0.19% to 887.897 points. Data released today showed that during February unemployment in Spain unexpectedly fell, resulting in the lowest aggregate amount of people out of work in the month of February since 2008. Meanwhile, oil prices rose to the highest level since November 2023 as several OPEC countries announced production cuts until the end of June while fears regarding an escalation of conflict in the middle east remain.