Four equities push MSE Equity Price Index higher

 

The MSE Equity Price Index rose by 0.22% to 3,776.670 points as the gains APS, Hili Properties, HSBC and PG outweighed the decline in GO. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.14 million. Download today’s Equity Market Summary.

APS Bank plc surged by 3.6% to the €0.58 level over six deals amounting to 14,960 shares.

Also in the banking sector, HSBC Bank Malta plc moved 0.7% higher to the €1.48 level across seven trades amounting to 8,500 shares.

A single trade of 5,000 shares pushed the share price of Hili Properties plc 2.7% higher to the €0.23 level.

PG plc gained 1.1% to the €1.92, albeit over trivial volumes.

On the other hand, GO plc shed 2.1% to the €2.74 level across 1,000 shares.

Bank of Valletta plc closed unchanged at the €1.67 level over eleven trades amounting to 32,882 shares.

Simonds Farsons Cisk plc traded flat at the €6.75 level as 8,000 shares changed hands.

Malita Investments plc held the €0.52 level on two deals totalling 5,000 shares.

Also in the property sector, MIDI plc remained at the €0.25 level across two trades amounting to 15,000 shares.

The RF MGS Index rose by 0.11% to reach a fresh two-year high of 920.305 points. Yesterday, an escalation in the conflict in the Middle East led to a flight to safety towards sovereign government bonds and also caused a spike in oil prices. Furthermore, manufacturing activity in the euro area declined by the fastest rate year-to-date in September, sparking economic growth concerns. Nonetheless, during a speech today, ECB Vice President Luis de Guindos commented that he expects the economy in the euro area to strengthen over time, as rising real incomes and the gradually fading effects of restrictive monetary policy should support consumption and investment. The euro area labour market also remained strong with the unemployment rate stable at a record low of 6.4% in August 2024, unchanged from the previous month.

 

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell 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.