MSE Equity Price Index moves higher on low volumes
The MSE Equity Price Index advanced by 0.39% to 3,646.890 points reflecting the gains in four companies. On the other hand, eight shares closed the day unchanged as overall trading activity amounted to just €0.04 million. Download today’s Equity Market Summary.
PG plc rallied by 4.8% to recapture the €2.20 level across 5,800 shares.
GO plc and BMIT Technologies plc also trended higher albeit on negligible volumes. GO rebounded by 1.4% to the €2.98 level whilst BMIT added 0.4% to the €0.468 level.
The other positive performing equity today was Malta Properties Company plc as it climbed 1.9% back to the €0.53 level across 15,250 shares.
Also in the property segment, Main Street Complex plc traded unchanged at the €0.46 level on trivial volumes.
Very low level of activity also took place in five other equities, namely APS Bank plc (€0.64), Bank of Valletta plc (€0.90), Malta International Airport plc (€5.95), Mapfre Middlesea plc (€1.67), and Simonds Farsons Cisk plc (€7.95).
A single deal of 6,775 shares left the share price of International Hotel Investments plc at the €0.705 level.
Mapfre Middlesea plc held on to the €1.11 level across 8,066 shares.
The RF MGS Index opened the week in negative territory as it slipped by 0.16% to 880.791 points. Sovereign bond yields in the euro area remained elevated after reports emerged that OPEC+ might announce substantial cuts in oil production on Wednesday. Meanwhile in the UK, Prime Minister Liz Truss scrapped an earlier plan to cut taxes on high income earners with a view of restoring some credibility to her newly launched fiscal stimulus package.
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.