BOV’s share price rises to highest level since October 2019
The MSE Equity Price Index advanced by 0.91% to 3,694.515 points reflecting the gains of BOV, HSBC, and IHI, which outweighed the declines in GO and M&Z. Meanwhile, AX Real Estate and VBL closed unchanged as overall trading activity improved to €0.38 million, the highest level in nearly two weeks. Download today’s Equity Market Summary.
Bank of Valletta plc advanced by a further 1.7% to the highest level in over three years of €1.17 across strong volumes of 173,697 shares.
Also within the banking sector, HSBC Bank Malta plc moved 3.6% higher to a fresh three-year high of €1.16 across four deals totalling 22,309 shares.
International Hotel Investments plc rebounded by 5.7% back to the €0.56 level on muted volumes.
In contrast, a single trade of 1,000 shares pulled the share price of GO plc 2% lower to the €2.96 level.
Similarly, M&Z plc shed 1.5% on one deal of 5,000 shares.
Within the property sector, AX Real Estate plc (7,000 shares) and VBL plc (710,760 shares) traded flat at the €0.45 and €0.206 levels respectively.
The RF MGS Index increased by 0.11% to 866.478 points, reflecting an overall drop across eurozone sovereign bond yields. Over the weekend, US President Joe Biden and House Speaker Kevin McCarthy reported that a tentative deal to raise the federal government’s debt ceiling was reached. The agreement must pass through Congress over the coming days for the US to avoid a default.
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.