MSE Equity Index trends higher on lacklustre volumes

 

The MSE Equity Price Index advanced by 0.05% to 3,676.418 points reflecting the strong uplift in the share price of Malita whilst AX Real Estate and Santumas Shareholdings traded unchanged. Overall trading volumes amounted to just €0.01 million. Download today’s Equity Market Summary.

Malita Investments plc surged by 10.7% to the €0.775 level on a total of 9,600 shares.

A single deal of 7,400 shares left the share price of AX Real Estate plc at the €0.54 level.

Santumas Shareholdings plc stayed at the €1.47 level on trivial volumes.

Today, MedservRegis plc announced that its existing contract with Eni Cyprus Ltd for the provision of operational base support services in Cyprus has been extended for an additional year up to June 2023. The contract extension includes the provision of dedicated facilities and services in the port of Limassol as Eni Cyprus presently holds interests in various concession areas in the Cypriot exclusive economic zone.

The RF MGS Index trended lower for the first time in four days as it slipped by 0.71% to 957.400 points. Geopolitical tensions in the Taiwan Strait escalated sharply as US Speaker of the House Nancy Pelosi addressed Taiwan’s parliament and commended the self-governing island as “one of the freest societies in the world”. This was followed by an immediate reaction by China which suspended the importing of several Taiwanese goods. Elsewhere in the US, fresh data showed that job openings fell to the lowest level since September 2021, reflecting the Federal Reserve’s efforts to cool down the world largest economy amid exorbitant inflation. In the euro area, activity in the services sector dropped by less than forecasted but retail sales contracted further and by more than anticipated.

 

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.