Daily Review 05.12.2024

MSE Equity Price Index falls for the second consecutive session

 

The MSE Equity Price Index fell by 0.08% to 3,782.822 points as the declines in PG and Plaza outweighed the gains in APS and Main Street. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.1 million. Download today’s Equity Market Summary.

PG plc shed 2.6% to the €1.86 level on two trades totalling 21,500 shares. PG’s Board of Directors is scheduled to meet on Thursday 19 December 2024 to consider the approval of the interim financial statements for the six-month period ended 31 October 2024.

Plaza Centres plc eased by 0.8% to the €0.625 level on muted activity.

On the other hand, APS Bank plc gained 0.9% to the €0.57 level across four deals amounting to 9,800 shares.

Main Street Complex plc moved 0.8% higher to the €0.266 on two trades amounting to 4,421 shares. On Tuesday, Main Street announced that the company continued to operate profitably throughout 2024, maintaining a robust financial position there was a reduction in footfall compared to last year, negatively impacting the company’s profitability. The Board noted that a small number of concessions expired this year and are yet to be replaced.  Furthermore, most concession agreements are due for renewal at the end of 2025 and discussions with existing as well as prospective tenants are underway. Some tenants remain undecided in view of the rising competition in the retail sector. The Board is exploring alternative strategies to maximise the return on the company’s investment.

Bank of Valletta plc closed unchanged at the €1.71 level over fifteen deals totalling 28,179 shares.

M&Z plc held the €0.55 level on a single trade 3,736 shares.

Malta International Airport plc and MaltaPost plc both closed unchanged at the €5.85 and €0.48 levels respectively on trivial volumes.

The RF MGS Index increased by 0.16% to reach a fresh two-year high of 928.911 points amidst further political uncertainties following the collapse of the French Government. Data released today showed that month-over-month retail sales in the euro area during October fell more than anticipated, reversing the gains of the previous month. The decline was driven by a drop in non-food products and fuel.

 

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.