BMIT share price drops to 2-year low

 

The MSE Equity Price Index advanced by 0.15% to 3,594.924 points as the gains in MIA and HSBC outweighed the declines in BMIT and VBL. Meanwhile three other equities closed unchanged as overall trading activity amounted to €0.04 million. Download today’s Equity Market Summary.

BMIT Technologies plc shed 2.2% to a 2-year low of €0.45 across two deals totalling 31,066 shares.

The only other negative performing equity today was VBL plc as it fell 8.5% to the €0.238 level on a single trade of 9,500 shares.

In contrast, HSBC Bank Malta plc extended yesterday’s gains as it climbed 2% to the €0.75 level on two deals totalling 3,841 shares.

Also among the large companies by market value, Malta International Airport plc advanced by 1.7% to the €5.90 level as 920 shares changed hands. The airport operator should shortly be publishing its Q3 key performance figures.

A single trade of 25,000 shares left the share price of International Hotel Investments plc at the €0.71 level.

M&Z plc (2,400 shares) and the ordinary shares of RS2 Software plc (400 shares) also remained unchanged at the €0.73 and €1.28 levels respectively.

The RF MGS Index extended yesterday’s downward movement as it lost a further 0.17% to 865.042 points. The Eurozone economic sentiment index improved in October when compared to the previous month but remained negative overall amid concerns of a recession. Meanwhile in the US, the homebuilder’s sentiment dropped further in October as mortgage rates continued to climb.

 

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.