MSE Equity Price Index snaps 5-day losing streak

The MSE Equity Price Index moved higher for the first time in six sessions as it rebounded by 0.39% to 3,798.102 points reflecting the gains of BOV and HSBC. Meanwhile, four other equities closed unchanged as today’s trading activity amounted to €0.15 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc advanced by 2.3% to €1.34 across five deals amounting to 31,508 shares.

Also in the banking sector, Bank of Valletta plc moved 0.5% higher to the €1.90 level across fourteen trades totalling 28,608 shares.

Malta International Airport plc stayed at the €5.90 level as 1,698 shares changed hands.

A single trade of 8,000 shares left the share price of GO plc unchanged at the €2.68 level.

Malita Investments plc (10,000 shares) and Hili Properties plc (63,700 shares) traded flat at the €0.45 and €0.24 levels respectively.

The RF MGS Index reversed all this week’s previous declines as it rose by 0.41% to 907.367 points amid fresh concerns about the health of the economy in both the euro area and the US. In this respect, data released today showed that seasonally adjusted retail trade volume fell by 0.5% month over month in July, which is more than the 0.3% decline which was anticipated, marking the largest drop in over two years. On an annual basis, retail sales edged down to 2.2% from 3.5% last June. Elsewhere in the US, the number of new jobs added in August halved from the previous month and was considerably lower than consensus.  Furthermore, the number of Americans filing for unemployment last week reached a two-month high.

 

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.