Daily Market Highlights (09.11.2022)
MSE Equity Price Index moves below the 3,600 mark
The MSE Equity Price Index retracted by 0.77% to 3,594.061 points reflecting the declines in five companies whilst only HSBC trended higher. Meanwhile, another three equities closed the day unchanged as overall trading activity contracted to €0.08 million compared to €0.21 million yesterday. Download today’s Equity Market Summary.
GO plc was the most actively traded equity today as it remained at the €2.92 level on a total of 10,000 shares.
Malta International Airport plc stayed at the €5.80 level across 3,600 shares.
LifeStar Insurance plc held on to the €0.45 level after opening at a low of €0.20. A total of 6,281 shares changed hands.
In contrast, LifeStar Holding plc plunged to the €0.20 level albeit on trivial volumes.
Low trading activity also took place in the equities of Malta Properties Company plc, M&Z plc, and Mapfre Middlesea plc. MPC lost 1.2% to the €0.494 level whilst M&Z and Mapfre Middlesea dropped by more than 4% to €0.70 and €1.50 respectively.
The other negative performing equity today was Bank of Valletta plc with a drop of 1.1% back to the €0.90 level across 11,000 shares.
Within the same segment, HSBC Bank Malta plc rebounded by 2.7% to the €0.76 level on a total of 14,867 shares.
The RF MGS Index surged by 0.90% to 883.597 points as virtually all MGS prices trended higher particularly the longest dated securities which advanced by more than 200 basis points. On the economic front, producer prices in China fell by 1.3% in October compared to the same month in 2021 (the first decline in nearly two years) reflecting lower commodity prices and weaker demand. Similarly, consumer price inflation slowed to 2.1% from 2.8% in September.
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.