MSE Equity Price Index climbs to 8-month high

 

The MSE Equity Price Index rose for the fifth consecutive session as it increased by 0.25% to an eight-month high of 3,875.413 points driven by the gains in BOV and Hili Properties. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.3 million. Download today’s Equity Market Summary.

Bank of Valletta plc moved 0.6% higher to the €1.64 level across six trades totalling 20,954 shares.

Hili Properties plc surged by 6.9% to a one-month high of €0.202 level over four deals amounting to 40,000 shares.

Malta International Airport plc was today’s most actively traded equity as it closed unchanged at the €6.05 level after failing to hold onto an intraday high of €6.10 (+0.8%) across ten trades for a total market value of €0.25 million.  Yesterday, MIA announced that it welcomed a record 951,861 passengers during July 2024, an increase of 12.2% compared to July 2023 and 8.4% higher than the previous record in August 2023. In fact, July 2024 was the airport’s first month to ever surpass 900,000 movements. The seat load factor for July 2024 was 89.7%, 0.6 percentage points more than July 2023. Additionally, total seat capacity was 11.5% higher when compared to the corresponding month in 2023. Recently, the Board of Directors declared a net interim dividend of €0.06 per share, double the interim dividend paid in 2023. The dividend is payable by not later than Friday 13 September 2024 to all shareholders as at the close of trading on Tuesday 20 August 2024.

Also among large companies by market value, Simonds Farsons Cisk plc traded flat at the €6.85 level as 870 shares changed hands.

Mapfre Middlesea plc held the €1.32 level on a single deal of 1,500 shares.

Santumas Shareholdings plc remained unchanged at the €1.30 level over trivial volumes.

Today, MIDI plc announced that its Board of Directors is scheduled to meet on Friday 30 August 2024 to consider the approval of the financial results for the six-month period ended 30 June 2024.

The RF MGS Index rose by 0.1% to 903.770 points. Data released today showed that producer prices in the United States rose by 2.2% in July, less than expectations of 2.3% and slowing from 2.7% in the previous month. Notably, the price of goods rose by 0.6% month-over-month (the most since last February), mainly on the back of higher energy costs, whilst service prices decreased by 0.2% from June, the largest monthly decline since March 2023. Furthermore, core producer prices had an annual increase of 2.4%, less than the forecasted 2.7%. Elsewhere, in the United Kingdom, the jobs report released today showed unemployment during June unexpectedly declined to 4.2% compared to a projected increase. Meanwhile, wage growth slowed to 5.4%, yet remained above the 4.6% which was anticipated.

 

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.