MPC share price slips to 10-month low

 

The MSE Equity Price Index erased some of yesterday’s drop as it rebounded by 0.3% to 3,763.039 points. The uplift in the share price of HSBC outweighed the decline in MPC whilst BOV closed unchanged. Trading activity in equities remained muted as only €0.1 million worth of shares changed hands. Download today’s Equity Market Summary.

HSBC Bank Malta plc surged by 5.3% to recapture the €0.90 level across 15,470 shares.

Also in the retail banking sector, Bank of Valletta plc traded flat at the €0.84 level on a total of 1,500 shares.

Elsewhere, Malta Properties Company plc shed 7.4% to a ten-month low of €0.50 on heightened activity totalling 160,000 shares.

The RF MGS Index trended lower for the first time in four days as it eased by 0.12% to 1,069.653 points. Investor sentiment continued to be dominated by the uncertainties over the expected monetary policy tightening by the Federal Reserve as well as concerns on the rising geopolitical tensions between NATO and Russia. Meanwhile, today the Central Bank of Malta published an update on the performance of the local economy in December 2021. The CBM noted that although growth receded somewhat, business activity remained strong reflecting the continued recovery of the Maltese economy.

 

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.