MSE Equity Price Index drops amid subdued trading

 

The MSE Equity Price Index decreased by 0.25% to 3,706.116 points as the declines in HSBC and Trident outweighed the gains in APS. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities was muted at about €37,000. Download today’s Equity Market Summary.

HSBC Bank Malta plc shed 1.9% to the €1.51 level on a single deal of 939 shares.

Trident Estates plc slumped by 4.0% to the €1.20 level on one trade of 770 shares.

On the other hand, APS Bank plc moved 1.0% higher to the €0.52 level albeit over trivial volumes. APS’s Board of Directors is scheduled to meet on Thursday 25 July 2024 to consider the approval of the interim financial results covering the six-month period ended 30 June 2024. The Directors will also consider the declaration of an interim dividend, subject to regulatory approval.

Malta International Airport plc traded flat at the €5.65 level on two deals totalling 2,600 shares.

Also among large companies by market value, Bank of Valletta plc closed unchanged at the €1.46 level across four deals amounting to 4,107 shares.

GO plc held the €2.86 level as 3,000 shares changed hands.

A single deal of 15,510 shares left the share price of BMIT Technologies plc unchanged at the €0.35 level.

The RF MGS Index rose for the eighth consecutive session climbing by 0.27% to a fresh two-month high of 892.551 points. The RF MGS Index increased by 0.68% this week, the sharpest weekly gain in five weeks, reflecting various data readings across the eurozone and the US which showed that inflation is easing. Inflation in France dropped to 2.5% in June, in line with expectations, driven by a slowdown in the increase of energy and food prices. Similarly, inflation in Spain decreased to 3.6% from 3.8% in the previous month, albeit not falling to the expected level of 3.5%. Elsewhere in the US, producer prices in June rose by 2.6% compared to 2.4% in the previous month and expectations of 2.3%. Furthermore, core producer prices climbed by 3.0% exceeding expectations of 2.5%.

 

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.