Trading activity plunges to three-month low

The MSE Equity Price Index fell by 0.16% to 3,792.938 points as the declines in AX Real Estate and Mapfre Middlesea outweighed the gains in PG and MIA. Meanwhile, five other equities closed unchanged as today’s trading activity was muted at close to €50,000. Download today’s Equity Market Summary.

Most of the trading took place across Bank of Valletta plc which closed unchanged at the €1.90 level over eight trades amounting to 15,051 shares. Today, BOV announced that it has reached the initial €100 million of the first series and tranche of 5% unsecured subordinated bonds 2030-2035. BOV explained that it will be exercising its over-allotment option up to a maximum of €125 million and thus the offer will remain open until 25 November, but it may still close the offer earlier.

Also in the banking sector, HSBC Bank Malta plc closed unchanged at the €1.41 level on one trade of 4,000 shares.

APS Bank plc held the €0.50 level on one deal of 1,168 shares.

Lombard Bank Malta plc stayed at the €0.65 level as 2,577 shares changed hands.

VBL plc remained at the €0.179 level on muted activity.

AX Real Estate plc slumped by 22.1% to the €0.296 level on a single deal of 5,000 shares.

Mapfre Middlesea plc fell by 4.7% to the €1.40 level on three trades totalling 2,586 shares.

Malta International Airport plc moved 1.7% higher to the €5.90 level over two deals amounting to 625 shares. Last Wednesday, MIA published the financial results for the first nine months of the year, which showed that revenue climbed by 10% to €118.5 million, which led to a 4.6% increase in pre-tax profits for the period to €63.9 million. MIA also published the October traffic results which showed that passenger movements increased by 16.7% to 978,445. The seat capacity increased by an even faster pace of 17.3%.

PG plc gained 0.6% to the €1.75 level on a single trade of 4,050 shares.

The RF MGS Index reversed this week’s earlier gains as it declined by 0.33% to 914.338 points. As such, on a weekly basis the index declined by 0.05%. Data released today highlighted the euro area’s economic resilience as the GDP grew by 1.4% year-on-year, surpassing projections of 1.3%. While the annual growth rates of Germany (0.3%), Italy (0.4%) and France (0.9%) were subdued, Spain (2.8%) was a strong performer among the bloc’s major economies.

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.