Daily Review 10.07.2024

Minimal trading activity across local equities


The MSE Equity Price Index snapped a three-day losing streak as it rose by 0.11% to 3,704.383. The gains in HSBC outweighed the declines in BOV, AX Real Estate and Hili Properties while three other equities closed unchanged. Today’s trading activity in local equities was muted at an almost two-month low of circa €15,000. Download today’s Equity Market Summary.

HSBC Bank Malta plc surged by 2.7% to the €1.54 level on a single trade of 290 shares.

In contrast, Bank of Valletta plc shed 0.7% to the €1.46 level on minimal activity.

Hili Properties plc shed 1.1% to the €0.188 level on two deals totalling 33,982 shares.

Also in the property sector, AX Real Estate plc slumped by 6.2% to a 7-month low of €0.454 on a single deal of 669 shares.

A single trade of 3,500 shares left the share price of International Hotel Investments plc unchanged at the €0.40 level.

Lombard Bank Malta plc held at the €0.79 level as 5,190 shares changed hands.

Simonds Farsons Cisk plc traded flat at the €6.85 level on muted activity.

The RF MGS Index increased for the sixth consecutive session to a fresh two-week high of 891.802 points. Yesterday, Federal Reserve Chair Jerome Powell remarked that holding rates too high for too long may threaten the economy and in particular the labour market. On similar lines, US Treasury Secretary Janet Yellen commented that supply issues and labour market tightness have eased which would help drive down consumer price pressures. Nonetheless, she explained that rental and housing costs are still higher than the target.


This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any 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.