MIA share price drops to 8-month low

 

The MSE Equity Price Index ended the month of November with a further drop of 0.05% to 3,756.831 points. The declines in the share prices of MIA and BOV outweighed the gains in Farsons, Trident and BMIT. Meanwhile, Harvest remained unchanged as only €0.04 million worth of shares changed hands. Download today’s Equity Market Summary.

Malta International Airport plc slid by 1.7% to an 8-month low of €5.80 albeit on just 640 shares.

Also among the large companies by market value, Bank of Valletta plc erased yesterday’s gain as it moved back to the €0.85 level (-1.2%) on two trades totalling 7,425 shares.

Meanwhile, Simonds Farsons Cisk plc advanced by 2.4% to regain the €8.50 level across 2,316 shares.

Today’s best performing equity – Trident Estates plc – surged by 7.7% to the €1.54 level albeit on negligible volumes.

BMIT Technologies plc moved 1.2% higher to the €0.496 level as 16,000 shares traded.

Also in the technology sector, Harvest Technology plc stayed at the €1.46 level after failing to hold on to an intraday high of €1.47 (+0.7%). A total of 3,665 shares changed hands.

The RF MGS Index registered its third consecutive daily gain as it moved 0.09% higher to a 1-week high of 1,088.824 points. Sovereign yields remained under downward pressure as concerns over high inflation continued to be overshadowed by the uncertainties related to the global spread of the ‘Omicron’ COVID-19 variant. Indeed, during his delivery at an event in New York, US Federal Reserve Chair Jerome Powell warned that the most recent developments in relation to the pandemic could leave a negative impact on employment, economic activity and inflation.

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.