Strong volumes across Hili Properties shares

The MSE Equity Price Index remained virtually unchanged at 3,762.948 points as the declines in VBL, PG, Malta Properties, and IHI offset the gains in BMIT and HSBC. Meanwhile, four other equities closed unchanged as today’s trading activity amounted to €0.28 million. Download today’s Equity Market Summary.

Nearly half of today’s trading value was across the shares of Hili Properties plc which held the €0.24 level across three trades totalling 558,000 shares. In the past month, more than €1.2 million worth of Hili Properties shares changed hands.

Bank of Valletta plc traded flat at the €1.99 level as 40,583 shares changed hands.

Malta International Airport plc closed unchanged at the €6.00 level over five deals amounting to 6,457 shares.

Plaza Centres plc stayed at the €0.62 level on one deal of 3,334 shares. Plaza will be holding its Annual General Meeting on Wednesday 18 June.

VBL plc slumped by 9.6% to the €0.17 level over four deals amounting to 12,500 shares. VBL will be holding its Annual General Meeting on Tuesday 1 July.

International Hotel Investments plc eased by 0.5% to the €0.428 level over three trades totalling 8,967 shares. IHI held its AGM today, which approved all the resolutions on the agenda.

Malta Properties Company plc shed 3.3% to the €0.29 level on a single deal of 3,050 shares.

PG plc decreased by 2.7% to the €1.80 level on two trades amounting to 5,200 shares.

On the other hand, BMIT Technologies plc surged by 4.7% to the €0.314 level over four deals totalling 28,800 shares, albeit the volume-weighted average price for the day stood at €0.299. BMIT will be holding its Annual General Meeting on Wednesday 18 June.

HSBC Bank Malta plc increased by 1.5% to the €1.38 level on trivial volumes.

The RF MGS Index decreased by 0.16% to 917.750 points as several ECB Board members including, Austrian policymaker Robert Holzman, as well as German policymakers Joachim Nagel and Isabel Schnabel hinted that there will be a pause to the ECB’s rate cutting cycle. They explained that the monetary policy stance is no longer restrictive and that the central bank has the flexibility to wait to assess the situation and make an optimal decision. Nonetheless, the policymakers all recognised that if economic developments worsen, there could still be further interest rate cuts by the ECB in the months ahead.

 

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.