GO share price hits 9-year low

The MSE Equity Price Index dropped by 0.22% to 3,780.731 points as the declines in APS, GO, HSBC and Farsons outweighed the gains in PG and Plaza. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.13 million. Download today’s Equity Market Summary.

GO plc shed 1.5% to the €2.66 level, the lowest since February 2015, across two deals totalling 6,000 shares.

Simonds Farsons Cisk plc eased by 0.7% to the €6.65 level across four deals totalling 1,537 shares. Last week, Farsons announced that following the strategic review of opportunities for the further expansion of the Food Business of the Farsons Group, the Board of Directors has concluded that the further growth of the Food Business as well as the interests of the Group, its shareholders and other stakeholders would be best served through its reorganisation by way of a Spin-off of the Food Business as a separate legal entity that would be listed on the Malta Stock Exchange.

APS Bank plc fell by 0.9% to the €0.57 level across three trades totalling 5,162 shares.

Also in the banking sector, HSBC Bank Malta plc moved 0.7% lower to the €1.44 level as 3,618 shares changed hands.

Bank of Valletta plc was today’s most actively traded equity as it traded flat at the €1.70 level across 12 deals amounting to 33,180 shares.

Malita Investments plc held the €0.53 level on a single trade of 7,508 shares.

One deal of 6,000 shares left the share price of BMIT Technologies plc unchanged at the €0.35 level.

Malta Properties Company plc and MaltaPost plc held the €0.344 and €0.48 levels respectively on trivial volumes.

Plaza Centres plc was today’s best performing equity as it surged 5% to the €0.63 level on two deals amounting to 15,250 shares. Nonetheless, most of the shares were exchanged at the previous closing price of €0.60.

PG plc moved 0.5% higher to the €1.91 level across four trades totalling 12,620 shares.

The RF MGS Index extended last week’s gains as it rose by a further 0.30% to 927.416 points. Political issues in France continued to influence investor sentiment as the Government faces a non-confidence vote after French Prime Minister Michel Barnier tried to push for a draft budget which does not yet have parliamentary approval. Meanwhile, manufacturing activity in Italy and Spain fell more than expected, raising concerns of economic stagnation at the euro area.

 

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.