BOV & HSBC drag the MSE Equity Price Index lower
The MSE Equity Price Index extended yesterday’s decline as it slipped by a further 0.4% to 3,592.693 points. The drop in the share prices of BOV and HSBC outweighed the gains in MIA, Mapfre Middlesea and Loqus whilst Lombard Bank Malta plc traded unchanged at the €1.95 level across 1,501 shares. Overall trading activity in equities contracted further to €0.04 million. Download today’s Equity Market Summary.
Bank of Valletta plc shed 2.3% to the €0.85 level on volumes totalling 40,196 shares.
Also in the retail banking sector, HSBC Bank Malta plc moved back to the €0.72 level (-4%) albeit on trivial volumes.
Malta International Airport plc advanced by 0.8% to recapture the €5.95 level on 235 shares.
Low trading activity also took place in the shares of Mapfre Middlesea plc which rebounded by 1.3% to the €1.52 level.
A single deal of 10,000 shares lifted the share price of Loqus Holdings plc to the €0.19 level (+26.7%).
The RF MGS Index rebounded by 0.19% from yesterday’s record low to 915.809 points. Despite today’s uptick, the Index still recorded the sharpest weekly decline in eleven weeks amid rising expectations of higher interest rates in the months ahead. On the economic front, fresh data in the US shows confirmed the underlying strength of the country’s labour market. Meanwhile, the G7 announced a cap on the price of Russian oil which is also intended to limit market fluctuations.
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.