BOV leads trading activity

The MSE Equity Price Index decreased by 0.04% to 3,851.052 points reflecting the decline in APS. Meanwhile, three other equities closed unchanged as today’s total traded value in local equities amounted to 0.21 million. Download today’s Equity Market Summary.

Bank of Valletta plc was today’s most actively traded equity as it closed unchanged at the €1.77 level across fifteen trades amounting to 104,276 shares. Shareholders as at the close of tomorrow’s trading session will be entitled to a net interim dividend of €0.06 per share, which will be paid on Wednesday 27 November 2024.

Also in the banking sector, HSBC Bank Malta plc held the €1.45 level as 1,000 shares changed hands.

Also among large companies by market value, Malta International Airport plc traded flat at the €5.95 level on two deals amounting to 300 shares.

On the other hand, APS Bank plc shed 0.9% to the €0.57 level across six deals totalling 42,348 shares.

The RF MGS Index fell by 0.30% to a two-month low of 907.124 points, fully reversing yesterday’s gains, as sovereign bond yields in the euro area spiked. In particular, the German 10-year bund yield hovered around 2.50% for the first time since July, but eased back to the 2.41% level later in the day. Yields rose amidst political uncertainty as Germany’s finance minister was dismissed, threatening the stability of German government and opening the possibility for a snap election in early next year. Meanwhile, data released indicated that the economy in the euro area is more resilient than anticipated. Retail sales increased by 2.9% year-over-year during September compared to expectations of 1.3%. Elsewhere in the UK, the Bank of England decided to cut the benchmark rate by 25 basis points to 4.75%, which marks the second decrease this year, reflecting progress in disinflation. Nonetheless, the Bank noted that there are still several inflationary pressures going forward, including the government’s expansionary budget, resilient services inflation as well as a potential uptick in energy prices.

 

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.