APS to provide General Insurance Services

The MSE Equity Price Index rose by 0.29% to 3,781.101 points as the gains in APS, IHI and MaltaPost outweighed the declines in MIA, PG and Quinco. Meanwhile, three other equities closed unchanged as today’s trading activity in local equities was muted at under €100,000. Download today’s Equity Market Summary.

APS Bank plc surged by 13.0% to a one-month high of €0.52, albeit over trivial volumes. Today, APS Bank announced that the MFSA approved the enrolment of APS Bank as a Tied Insurance Intermediary on behalf of Atlas Insurance PCC Limited (for property and travel insurance) and Atlas Healthcare Insurance Agency Limited (for health insurance).

A single trade of 1,000 shares pushed the share price of International Hotel Investments plc 0.5% higher to the €0.42 level.

MaltaPost plc rose by 9.5% to the €0.438 level on a single deal of 4,000 shares.

On the other hand, Malta International Airport plc fell by 2.5% to a six-month low of €5.75 over seven trades amounting to 1,800 shares.

PG plc moved 0.6% lower to the €1.75 level on a single trade of 1,000 shares.

Quinco Holdings plc slumped by 16.7% to the €1.00 level across three deals totalling 6,490 shares.

Meanwhile, Bank of Valletta plc closed unchanged at the €1.90 level over ten trades amounting to 31,061 shares.

GO plc traded flat at the €2.48 level as 4,574 shares changed hands.

GO’s IT services and digital infrastructure subsidiary BMIT Technologies plc held the €0.282 level on two deals amounting to 30,000 shares.

The RF MGS Index snapped a three-day losing streak as it rose by 0.16% to reach a two-week high of 915.796 points amid a slight improvement in eurozone economic sentiment, which surpassed market expectations and signals confidence in the short-term economic outlook. Meanwhile, US jobs data highlighted weakness in the labour market as 11,250 private jobs were cut every week during the month of October. In the UK, unemployment during September rose to 5.0% from 4.8% in the previous month, exceeding expectations of 4.9%.

 

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.