BOV and HSBC lead trading activity

 

The MSE Equity Price Index remained practically unchanged at 3,796.314 points as the gains in Hili Properties, HSBC, MIDI, MIA, and Plaza were largely offset by declines in APS, IHI, and RS2. Download today’s Equity Market Summary.

Meanwhile, today’s most actively traded equity – Bank of Valletta plc – closed unchanged at the €1.69 level across 22 deals amounting to 91,300 shares having a market value of €0.15 million.

Notable trading activity took place across the shares of HSBC Bank Malta plc which increased by 1.4% to the €1.47 level on 11 trades amounting to 93,830 shares.

Hili Properties plc surged by 10.8% to the €0.216 level across five deals amounting to 84,300 shares.

Also in the property sector, MIDI plc gained 0.9% to the €0.232 level on two trades totalling 4,625 shares.

Plaza Centres plc rose by 13.6% to the €0.625 level over trivial volumes.

Malta International Airport plc moved 0.8% higher to the €5.95 level, also on muted activity.

On the other hand, APS Bank plc fell by 1.7% to the €0.57 level over six deals amounting to 6,695 shares.

International Hotel Investments plc slumped by 5.8% to the €0.424 level on a single deal of 2,175 shares.

The ordinary shares of RS2 plc declined by 0.9% to the €0.575 level across three deals amounting to 7,800 shares.

The RF MGS Index rose by 0.04% to reach a fresh two-year high of 914.805 points. Last Friday, ECB President Christine Lagarde stated that it is unlikely that rates will be cut during the next monetary policy meeting in October since headline inflation is anticipated to rise again in the latter part of the year. Furthermore, she referred to the upside risk of services inflation as well as economic growth risks which are tilted to the downside. Lagarde recognised that wage costs are slowing, potentially leading to lower unit cost growth and better productivity. In this respect, data released today showed that annual wage growth in the euro area during the second quarter of the year slowed to 4.5% from 5.2% in the first quarter of the year.

 

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.