M&Z share price gains over 4% on 1st day of trading
The MSE Equity Price Index opened the week in negative territory as it slid by 0.65% to 3,662.992 points. The declines in HSBC, RS2 and MPC offset the gains in M&Z and PG whilst another five companies traded unchanged. Overall trading activity in equities amounted to €0.11 million as most shares traded on low volumes. Download today’s Equity Market Summary.
Following the listing of the company’s shares last Friday, the share price of M&Z plc rallied by 4.2% to the €0.75 level from its IPO price of €0.72 albeit on a single deal of just 3,500 shares.
The other positive performing equity today was PG plc with a gain of 1.8% back to the €2.30 level across 3,350 shares.
HSBC Bank Malta plc tumbled by 6.4% to the €0.88 level on shallow volumes.
Also among the large companies by market value, the ordinary share price of RS2 Software plc trended 3% lower to the €1.63 level. A total of 31,901 shares changed hands.
Malta Properties Company plc eased by 0.9% to the €0.525 level albeit on trivial volumes. The company is due to publish its 2021 full-year results on Thursday 17 March.
A single deal of 10,000 shares left the share price of VBL plc at the €0.254 level. VBL is due to publish its 2021 full-year results on Thursday 24 March.
GO plc and Malta International Airport plc traded flat at €3.20 and €5.75 respectively on light volumes.
Nine deals totalling 39,565 shares left the share price of Bank of Valletta plc at the €0.78 level.
BMIT Technologies plc stayed at the €0.49 level across 12,800 shares.
The RF MGS Index slipped by 0.17% to 1,035.639 points as financial markets continued to keep a close eye on the evolving situation in Ukraine. On the one hand, American officials said that Russia asked China for military assistance whilst on the other hand, Russian and Ukrainian ministers suggested that diplomatic talks were moving in a positive direction. Meanwhile, Britain’s defence ministry said that the Russian navy established a “distant blockade” of Ukraine’s Black Sea coast which effectively isolates Ukraine from international maritime trade. Elsewhere, the IMF warned that Russia may soon default on its debts although this event might not cause huge global repercussions.
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.