Five equities push MSE Equity Price Index higher

 

The MSE Equity Price Index rose by 0.38% to 3,799.561 points as the gains in APS, BOV, HSBC, BMIT, and IHI outweighed the declines in MIA. Meanwhile, four other equities closed unchanged as today’s total trading activity in local equities was muted at €0.09 million. Download today’s Equity Market Summary.

APS Bank plc surged by 4.0% to the €0.52 level across four deals amounting to 3,008 shares.

Also in the banking sector, Bank of Valletta plc moved 0.6% higher to the €1.68 level over eight trades totalling 23,560 shares.

HSBC Bank Malta plc advanced by 0.6% to the €1.67 level on minimal activity.

Also among large companies by market value, International Hotel Investments plc climbed 0.5% to the €0.426 level across three deals amounting to 32,500 shares.

BMIT Technologies plc increased by 3.5% to the €0.354 level as 5,700 shares changed hands.

On the other hand, Malta International Airport plc shed 0.8% to the €5.90 level across four deals amounting to 1,860 shares.

Meanwhile, Lombard Bank Malta plc held the €0.78 level on a single trade of 7,920 shares.

Hili Properties plc (39,030 shares) and Malta Properties Companies plc (2,990 shares) both closed unchanged at the €0.195 and €0.33 levels respectively.

MaltaPost plc traded flat at the €0.48 level as 11,244 shares changed hands.

The RF MGS Index snapped a four-day winning streak as it fell 0.28% to 908.495 points. Former ECB President Mario Draghi released a report calling for several economic reforms to stimulate economic growth in the EU. Mr Draghi commented that the standard of living in Europe will decline unless productivity and growth are improved. Some of the recommendations include increasing investments by about €800 billion annually and relaxing competition rules. Furthermore, he suggested investment in European public goods including a common energy infrastructure, joint defence procurement, and centralised market supervision. In this respect, Mr Draghi noted that combining European spending and increasing its scale will deliver a more efficient output.

 

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.