Muted activity across the MSE Equity Market

 

The MSE Equity Price Index gained 1.45% to 3,745.829 points as the gain registered in the share price of Farsons outweighed the decline in GO. Meanwhile BOV and MPC closed unchanged as overall equity market activity was subdued at only €0.02 million. Download today’s Equity Market Summary.

Most of today’s trading involved the shares of GO plc which eased by 1.3% to the €3.12 level across four deals totalling 5,395 shares.

Bank of Valletta plc (2,249 shares) and Malta Properties Company plc (3,050 shares) traded flat at €0.87 and €0.515 respectively.

Simonds Farsons Cisk plc surged by 25% to recapture the €8.75 level albeit on trivial volumes.

The RF MGS Index extended its negative run to the ninth consecutive session as it lost a further 0.15% to a fresh all-time low of 960.836 points. Today, the ECB concluded its monetary policy meeting in which it confirmed the conclusion of net asset purchases by the end of this month and announced the intention to raise interest rates by 25 basis points in July. Furthermore, the ECB expects another rate hike in September, the extent of which will remain dependent on the level of inflation in the coming months. The ECB also published updated economic forecasts anticipating lower economic growth in the euro area of 2.8% in 2022 and 2.1% in 2023, compared to the March forecasts of 3.7% and 2.8% respectively. In contrast, inflation projections were revised upwards to 6.8% in 2022 and 3.5% in 2023, compared to the March forecasts of 5.1% and 2.1%.

 

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.