MSE Equity Price Index posts 3-day negative streak
The MSE Equity Price Index trended lower for the third consecutive day as it eased by a further 0.23% to 3,663.180 points. The drops in HSBC, APS, GO and Harvest offset the gains in four other companies whilst BOV and MIA closed the day unchanged. Overall trading activity in equities contracted to €0.23 million compared to €0.36 million yesterday. Download today’s Equity Market Summary.
APS Bank plc moved 1.5% lower to the €0.67 level on a total of 71,803 shares.
Within the same sector, HSBC Bank Malta plc dropped by 4.5% back to the €0.75 level across 74,298 shares.
Also among the large companies by market value, GO plc eased 0.7% to the €3.02 level on volumes totalling 6,600 shares.
The other negative performing equity today was Harvest Technology plc as it tumbled by 17.6% to the €1.22 level albeit on just 3,000 shares.
Low trading activity also took place in Simonds Farsons Cisk plc and AX Real Estate plc which advanced by 2.1% and 1.8% to €7.15 and €0.56 respectively.
A single deal of 10,000 shares lifted the share price of BMIT Technologies plc 2.1% higher to the €0.48 level.
The ordinary shares of RS2 Software plc recaptured the €1.58 level (+1.9%) albeit on light volumes.
Meanwhile, Malta International Airport plc traded flat at €5.95 across 13,030 shares.
Bank of Valletta plc stayed at the €0.935 level across 13,500 shares.
The RF MGS Index extended yesterday’s rebound as it surged by 1.05% to 937.863 points. During his testimony to the Senate, US Federal Reserve Chairman Jerome Powell emphasised that the central bank is “strongly committed” to taming inflation as the US economy is strong enough “to handle tighter monetary policy.”
Today, 1923 Investments plc announced that it entered into a Master Franchise Agreement with iRiparo Srl which is a leading European retailer supplying refurbished phones, high quality mobile device repair and accessories. Under the terms of the agreement, 1923 Investments will have the right to launch the brand across 31 countries in Europe. At present, iRiparo is already present in four European markets, with 380 stores across Italy, France, Spain and the UK. 1923 Investments noted that it will launch its iRiparo operation in Germany and is preparing to open its first store in August 2022.
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.