Heightened activity in PG shares
The MSE Equity Price Index remained virtually unchanged at 3,556.052 points as the gain in PG was offset by the declines in M&Z, Plaza and Farsons. Meanwhile, three other equities remained unchanged as overall trading activity in equities amounted to €0.19 million. Download today’s Equity Market Summary.
Most of today’s trading took place in the shares of PG plc which advanced by 1% to the €2.08 level on four trades totalling 75,000 shares, having a market value of €0.16 million.
Malta International Airport plc closed unchanged at the €5.65 level after recovering from a low of €5.60 (-0.9%) across two deals totalling 2,200 shares.
Likewise, Bank of Valletta plc closed unchanged at the €0.93 level after recovering from an intraday low of €0.925 (-0.5%) across three deals totalling 10,750 shares.
Also among the large companies by market value, International Hotel Investments plc held the €0.605 level across a single trade of 700 shares.
Simonds Farsons Cisk plc (1,300 shares) and M&Z plc (2,500 shares) both lost 0.7% to the €7.20 and €0.685 levels respectively.
Plaza Centres plc was today’s worst performing equity as it dropped by 4.1% to the €0.70 level on a single trade of 1,500 shares.
The RF MGS Index posted a three-day losing streak as it shed a further 0.22% to 885.756 points. Yesterday, ECB President Christine Lagarde delivered a speech highlighting the current economic situation and an outlook for 2023. In particular, Ms Lagarde reiterated that the ECB will increase rates further to restrictive territory for as long as necessary to tame inflation. She also referred to the priority in turning Europe into one of the largest trade partners in a new global world that is presenting a number of challenges but also introducing new opportunities.
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.