MSE Equity Price Index falls to 5-month low

 

The MSE Equity Price Index slumped by 1.36% to a five-month low of 3,707.014 points as the declines in eight equities outweighed the gain in Mapfre Middlesea. Meanwhile, two other equities closed unchanged but trading activity in local equities was muted at just under €70,000. Download today’s Equity Market Summary.

APS Bank plc declined by 1.8% to the €0.55 level across three trades amounting to 2,150 shares.

Malta International Airport plc shed 0.9% to the €5.75 level as 4,001 shares changed hands.

Also among large companies by market value, International Hotel Investments plc slumped by 13.0% to the €0.40 level across four trades totalling 15,505 shares.

The ordinary shares of RS2 plc declined by 2.0% to the €0.49 level on two trades totalling 8,444 shares.

Hili Properties plc moved 0.9% lower to the €0.218 level on one deal of 8,150 shares.

Also in the property sector, Trident Estates plc shed 7.1% to the €1.04 level on muted activity.

Similarly, BMIT Technologies plc plummeted by 6.9% to an all-time low of €0.324 albeit over trivial volumes.

The Convenience Shop (Holding) plc also hit an all-time low as it fell by 16.3% to the €0.82 level on a single deal of 7,200 shares.

On the other hand, Mapfre Middlesea plc gained 0.7% to the €1.41 level on two trades totalling 1,030 shares.

Meanwhile, Bank of Valletta plc closed unchanged at the €1.72 level across nine deals amounting to 12,503 shares.

Simonds Farsons Cisk plc traded flat at the €6.65 level on two trades totalling 120 shares.

The RF MGS Index fell by 0.42% to an almost two-month low of 911.519 points. Inflation in Germany during December rose for the third consecutive month, rebounding to 2.9% which was the highest reading in eleven months, compared to forecasts of 2.5%. The surge in inflation was driven by higher than anticipated service and core prices as well as a lower than forecasted decline in energy prices. Furthermore, data released today showed that the private sector in Europe grew by more than anticipated during December, driven by a robust services sector. On the other hand, in the US, the growth of the public sector during the corresponding period was less than projected. The above contradicts the recent trend where the euro area tended to underperform projection, whilst the US overperformed. Nonetheless, it should still be noted that the growth rate in the US was still much larger than that of Europe, despite falling short of expectations.

 

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.