Daily Market Highlights (26.06.2023)

RS2 surges to 7-month high

 

The MSE Equity Price Index advanced by 1.14% to a two-week high of 3,736.029 points as the gains in the ordinary shares of RS2, MIA, BOV, and Medserv outweighed the declines in Farsons and Santumas. Meanwhile, three other equities closed unchanged as the total trading activity amounted to €0.28 million.  Download today’s Equity Market Summary.

The ordinary shares of RS2 Software plc climbed by 10.7% to a seven-month high of €1.35 across ten trades totalling 150,000 shares having a market value of €0.19 million. The volume-weighted average traded price was of €1.253.

MedservRegis plc also registered double-digit gains as it rebounded by 28.4% to the €0.655 level, albeit on just one deal of 5,000 shares.

Bank of Valletta plc closed 0.8% higher to the €1.21 level after recovering from an intraday low of €1.18 (-1.8%) across five deals totalling 25,117 shares.  

Malta International Airport plc gained 0.9% to the €5.55 level on lacklustre volumes.

PG plc traded flat at the €1.94 level across three deals totalling 15,000 shares. Last Friday, PG announced that the company’s Board of Directors resolved to distribute a net interim dividend of €0.0416667 per share which is 25% higher than the corresponding interim dividend paid out in July 2022 for the 2021/22 financial year. Shareholders of PG as at close of trading on Monday 3 July 2023 will be entitled to receive the dividend which is payable on Wednesday 12 July 2023.

A single trade of 2,610 shares left the share price of Malta Properties Company plc at the €0.382 level.

HSBC Bank Malta held the €1.20 level over two trades totalling 5,000 shares.

In contrast, Simonds Farsons Cisk plc shed 1.4% to the €7.00 level across three trades totalling 2,899 shares.

Santumas Shareholding plc slumped by 8.6% to the €1.28 level on trivial volumes.

The RF MGS Index increased by 0.11% to 874.605 points. According to the German Bundesbank, Germany’s technical recession is set to end soon, as the eurozone’s largest economy is expected a marginal growth in GDP by June. The Bundesbank attributed their forecast to an increase in real disposable income driven by the combination of falling inflation and robust wage growth. However, the German economy is still showing signs of fragility as its Business Climate Indicator fell to 88.5 in June, well below market expectations of 90.7.

 

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.