Several equities trade lower
The MSE Equity Price Index extended yesterday’s decline as it fell by almost 1% to 3,686.836 points. Five companies ended the day lower whilst BOV and GO closed unchanged. Overall trading activity in equities improved to €0.14 million compared to €0.07 million yesterday. Download today’s Equity Market Summary.
Malta International Airport plc dropped by 1.7% to an over five-week low of €5.75 on 3,500 shares.
Also among the large companies by market value, International Hotel Investments plc eased by 0.9% to the €0.57 level after failing to hold on to an intraday high of €0.58 (+0.9%). A total of 19,500 shares changed hands.
Lombard Bank plc slid by 11.4% to a near three-month low of €1.86 level across 13,071 shares.
Malta Properties Company plc shed 2.8% to the €0.53 level on two deals totalling 11,628 shares.
The other negative performing equity today was Mapfre Middlesea plc as it plunged by 8.2% to the €2.02 level albeit on trivial volumes.
Meanwhile, Bank of Valletta plc (88,455 shares) and GO plc (1,800 shares) closed unchanged at €0.78 and €3.20 respectively.
Today, the shares of M&Z plc were admitted to listing on the MSE. Trading in the shares will be possible as from Monday 14 March.
The RF MGS Index continued to trend lower as it slipped by a further 0.92% to an over two-week low of 1,037.437 points. Today, the ECB published its updated macroeconomic projections in which the central bank reduced the euro area GDP growth forecast for this year to 3.7% from the earlier estimate of 4.2% but revised higher the inflation forecast to 5.1% from the previous projection of 3.2%.
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.