MSE Equity Price Index extends positive momentum
The MSE Equity Price Index added a further 0.2% to a six-week high of just over 3,882 points as the gains in HSBC and LifeStar Holding offset the declines in BMIT and GHM whilst a further three companies closed the day unchanged. Trading activity across equities contracted notably to just €0.04 million. Download today’s Equity Market Summary.
HSBC Bank Malta plc trended 2.2% higher to regain the €0.92 level across 6,000 shares.
LifeStar Holding plc surged by 5.3% to a fresh multi-year high of €1.00 albeit on just 500 shares.
Low trading activity also took place in the equity of Grand Harbour Marina plc which eased by 1.4% to the €0.68 level.
The other negative performing equity today was BMIT Technologies plc as it retracted by 0.4% to the €0.478 level.
Meanwhile, LifeStar Insurance plc stayed at the €0.50 level on trivial volumes.
In the property segment, Malita Investments plc (18,294 shares) and Tigné Mall plc (15,606 shares) traded flat at €0.80 and €0.70 respectively.
The RF MGS Index trended higher for the first time in over a week as it rebounded by 0.08% to 1,080.211 points. Developments across international financial markets continued to be dominated by the global spread of the Omicron variant as several European countries recorded their highest ever daily rises in infections. Meanwhile, a study conducted by America’s Centres for Disease Control and Prevention concluded that the incubation period for Omicron appears to be shorter (3 days) than for other variants (up to 6 days).
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.