Daily Review 01.10.2024

Three bank equities pull the MSE Equity Price Index lower

The MSE Equity Price Index snapped a three-day winning streak as it fell by 0.58% to 3,768.471 points on the back of declines in BOV, HSBC, and Lombard. Meanwhile, two other equities closed unchanged as today’s trading activity in local equities was muted at around €55,000. Download today’s Equity Market Summary.

Bank of Valletta plc moved 1.2% lower to the €1.67 level on two deals totalling 4,500 shares.

Also in the banking sector, HSBC Bank Malta plc shed 0.7% to the €1.47 level over four trades amounting to 2,662 shares.

Lombard Bank Malta plc was today’s worst performing equity as it slumped by 8.2% to the €0.78 level on a single trade of 5,000 shares.

Malta International Airport plc traded flat at the €6.00 level as 6,335 shares changed hands.

Malita Investments plc held the €0.52 level on one deal of 3,000 shares.

The RF MGS Index rose by 0.23% to 919.333 points as yields in the euro area declined sharply. The German 10-year bund yield fell to a year-to-date low of 2.0%. The euro area inflation data published today showed that during September headline inflation fell in line with expectations to a three-year low of 1.8%, driven by a reduction in energy prices. Nonetheless, core inflation in September (excluding volatile energy and food prices) was at 2.7%, albeit easing from 2.8% in the previous month.