MSE Equity Price Index virtually unchanged

 

The MSE Equity Price Index remained practically unchanged at 3,851.103 points as the gains in Trident outweighed the declines in BMIT and Hili Properties. Meanwhile, four other equities closed unchanged as today’s total traded value in local equities amounted to €0.18 million. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity for the second consecutive session as it closed unchanged at the €1.77 level across eighteen trades amounting to 81,701 shares. Shareholders as at the close of today’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 4,072 shares changed hands.

Mapfre Middlesea plc held the €1.40 level on a single deal of 1,500 shares.

GO plc traded flat at the €2.80 level across four trades amounting to 6,000 shares.

Trident Estates plc surged by 8.7% to the €1.12 level on two trades totalling 1,436 shares.

On the other hand, BMIT Technologies plc fell by 2.8% to the €0.35 level on a single trade of 8,436 shares.

Hili Properties plc shed 1.7% to the €0.226 level on two deals amounting to 40,000 shares.

The RF MGS Index rose by 0.23% to 909.207 points as the index recovered intra-week losses to remaining practically unchanged when compared to last Friday. Yesterday evening, the US Federal Reserve opted to cut the federal funds rate for the second time this year in line with expectations. The 25 basis points cut was lower than the previous cut of 50 basis points and left the federal funds rate at a range between 4.50% and 4.75%. Following the decision, the Chair of the Federal Reserve Mr Jerome Powell commented that the results of this week’s Presidential Election will have no effect on monetary policy decisions in the near term. Furthermore, Powell believes that further interest rate cuts can be anticipated but the timing will depend on developments in inflation and employment data.

 

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.