MSE Equity Price Index drops to 4-week low
The MSE Equity Price Index moved lower for the fifth consecutive day as it retracted by 0.11% to 3,781.922 points reflecting the declines in the share prices of BMIT and RS2. Meanwhile, BOV, GO and MaltaPost closed the day unchanged. Trading activity across equities contracted further to just €0.08 million compared to €0.11 million yesterday. Download today’s Equity Market Summary.
A single deal of 7,250 shares forced the ordinary share price of RS2 Software plc to drop by 1.2% to the €1.70 level.
Also in the technology segment, BMIT Technologies plc eased by 0.4% back to the €0.48 level on a total of 48,900 shares.
Meanwhile, Bank of Valletta plc remained at the €0.85 level across 13,021 shares.
Also among the large companies by market value, GO plc traded flat at the €3.26 level across 7,822 shares.
Two deals totalling 5,000 shares left the share price of MaltaPost plc at the €1.20 level.
The RF MGS Index trended higher as it rebounded by 0.13% to 1,068.339 points. Yesterday, the US Federal Reserve published the ‘Beige Book’ ahead of its monetary policy meeting in two weeks’ time. In the report, the central bank highlighted the challenges of supply chain disruptions and labour shortages for US businesses which are creating inflationary pressures. Nonetheless, the Federal Reserve also noted the strong dynamics of the US economy driven by strong consumer spending despite the challenges brought about by the Omicron variant. Elsewhere in Europe, today the ECB published its latest ‘Economic Bulletin’ in which the central bank sounded a relatively optimistic view about the continued economic recovery on the back of robust domestic demand.
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.