S&P Global raises BOV’s credit rating

 

The MSE Equity Price Index fell by 0.23% to 3,757.951 points as the declines in Farsons, HSBC and The Convenience outweighed the gains in AX Real Estate, Lombard and RS2. Meanwhile, eight other equities closed unchanged as today’s total trading activity in local equities amounted to €0.12 million. Download today’s Equity Market Summary.

Bank of Valletta plc closed unchanged at the €1.72 level across eight deals amounting to 22,687 shares. Today, local media reported that S&P Global raised its long- and short-term issuer credit ratings on BOV to ‘BBB/A-2’ from ‘BBB-/A-3’ with a stable outlook.

Also in the banking sector, APS Bank plc closed unchanged at the €0.56 level over three trades totalling 23,600 shares.

Malta International Airport plc traded flat at the €5.80 level as 4,185 shares changed hands.

Malita Investments plc held the €0.53 level on two deals amounting to 2,000 shares.

BMIT Technologies plc closed unchanged at the €0.348 level across four trades totalling 32,390 shares.

PG plc traded flat at the €1.86 level across two deals amounting to 1,112 shares.

Grand Harbour Marina plc and MaltaPost plc both held the €1.10 and €0.47 levels respectively over trivial volumes.

Meanwhile, HSBC Bank Malta plc shed 2.1% to the €1.40 level across four trades amounting to 5,720 shares.

Also among large companies by market value, Simonds Farsons Cisk plc eased by 0.7% to the €6.65 level over three deals amounting to 1,275 shares.

The Convenience Shop (Holding) plc fell by 2.0% to the €0.98 level on a single trade of 2,000 shares.

The ordinary shares of RS2 plc gained 2.0% to the €0.50 level across four deals totalling 7,656 shares.

Lombard Bank Malta plc moved 0.6% higher to the €0.795 level on two deals of 6,000 shares.

AX Real Estate plc increased by 0.5% to the €0.422 level on one trade of 6,700 shares.

The RF MGS Index gained 0.12% to 915.362 points. Further signs of economic weakness in the euro area emerged as growth in corporate and household lending in the euro area was lower than anticipated during November. Credit growth to businesses amounted to just 1.0%, down from 1.2% in the previous month whilst the increase in loans to households was 0.9%, also subdued compared to historic terms.  Moreover, data released yesterday also showed that the manufacturing sector in the euro area contracted by more than anticipated during December.

 

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.