MSE Equity Price Index drops to one-week low

 

The MSE Equity Price Index fell by 0.27% to 3,766.620 points as the declines in eight equities outweighed the gains in BOV, BMIT, and Malta Properties Company. Meanwhile, four other equities closed unchanged as today’s trading activity was muted at below €0.10 million. Download today’s Equity Market Summary.

AX Real Estate plc shed 2.2% to the €0.44 level over three trades totalling 2,923 shares.

Also in the property sector, Hili Properties plc eased by 0.9% to the €0.228 level across six deals amounting to 144,300 shares.

Malita Investments plc slumped by 3.8% to the €0.50 level as 20,000 shares changed hands.

Santumas Investments plc decreased by 1.6% to the €1.22 level on two deals totalling 766 shares.

APS Bank plc moved 2.6% lower to the €0.565 level over four deals amounting to 6,341 shares.

Also among large companies by market cap, Simonds Farsons Cisk plc dropped by 0.7% to the €6.70 level on one trade of 449 shares.

A single trade of 1,500 shares pulled the share price of PG plc 1.0% lower to the €1.90 level.

Mapfre Middlesea plc plummeted by 4.5% to the €1.27 level albeit on a single trade of 1,100 shares.

In contrast, Bank of Valletta plc gained 0.6% to the €1.68 level on two trades amounting to 2,000 shares.

Malta Properties Company plc increased by 3.0% to the €0.34 level over three deals totalling 12,945 shares.

BMIT Technologies plc surged by 3.5% to the €0.356 level on muted activity.

GO plc closed unchanged at the €2.74 level after failing to hold to an intraday high of €2.80 (+2.2%) across nine deals totalling 6,801 shares.

Trident Estates plc held the €1.12 level on a trade of 3,000 shares.

MIDI plc held the €0.25 level on trivial volumes.

Malta International Airport plc traded flat at the €6.00 level muted activity.

Today, Grand Harbour Marina plc announced that its Board of Directors is scheduled to meet on Tuesday 8 October 2024 to consider the declaration of an interim dividend.

The RF MGS Index snapped a two-day winning streak as it declined by 0.22% to 918.239 points as yields in the Eurozone rebounded. In particular, the German 10-year bund yield climbed back to the 2.15% level from a low of 2.01% two days ago. Yields continued to be volatile amid escalating tensions in the Middle East.

Today, the Treasury Department established the prices for the two new Malta Government Stocks as follows:

(i) 2.80% MGS 2030 (III) at 100.00% for every €100 nominal giving a yield-to-maturity of 2.7996% per annum; and

(ii) 3.25% MGS 2034 (IV) at 100.00% for every €100 nominal giving a yield-to-maturity of 3.2497% per annum.

The General Public has the possibility of applying for these stocks in multiples of €100 and up to a maximum of €499,900 (nominal) per person. Subscriptions for the General Public open on Monday 7 October 2024 and close on Wednesday 9 October 2024. On the other hand, tenders in the form of sealed bids will open on Friday 11 October 2024 and close on the same day at 12:00 hrs (noon) – or earlier at the discretion of the Accountant General.

 

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.