BOV climbs to a one-month high

The MSE Equity Price Index rose by 0.52% to 3,782.676 points as the gains in BOV, IHI, Malita, and Malta Properties outweighed the decline in Lombard.  Meanwhile, six other equities closed unchanged as today’s trading activity amounted to €0.29 million. Download today’s Equity Market Summary.

Bank of Valletta plc gained 1.5% to reach a one-month high of €2.02 over eight deals amounting to 25,628 shares.

International Hotel Investments plc moved 0.5% higher to the €0.43 level on two trades totalling 1,550 shares. Nonetheless, today’s volume-weighted average price stood at €0.408 (-4.6%).

Malita Investments plc advanced by 4.3% to the €0.48 level on a single deal of 7,000 shares.

Also in the property sector, Malta Properties Company plc rose by 3.4% to the €0.30 level as 5,000 shares changed hands.

On the other hand, Lombard Bank Malta plc fell by 0.7% to the €0.715 level on a single deal of 5,000 shares.

Meanwhile, APS Bank plc traded flat at the €0.545 level across four deals amounting to 7,856 shares.

M&Z plc closed unchanged at the €0.56 level across 14 trades totalling 250,000 shares. Yesterday, M&Z announced that it will stand in the market to buy back up to 250,000 of its own shares at any price between €0.45 and €0.56.

GO plc held the €2.50 level on one deal of 940 shares. GO will hold its AGM on Thursday 19 June.

HSBC Bank Malta plc closed unchanged at the €1.38 level on muted activity.

Hili Properties plc held the €0.24 level over six trades totalling 307,200 shares.

Malta International Airport plc closed unchanged at the €6.00 level on two deals amounting to 1,003 shares.

The RF MGS Index rose by 0.05% to 918.196 points amidst an alleviation of trade pressures between China and the US. In fact, following two days of negotiations China’s export restrictions on rare earths were removed. In context of the latest developments, ECB President Christine Lagarde stated that to reduce the risk of mutual economic damage and resolve financial imbalances, all sides need to weigh policy adjustments in order to resolve tensions.

 

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.