Daily Review 17.01.2024

Diverse price movements across local equities


The MSE Equity Price Index remained practically unchanged at 3,787.802 points as the gains in four equities were offset by losses in four other equities. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.09 million. Download today’s Equity Market Summary.

Bank of Valletta plc was today’s most actively traded equity accounting for nearly half of today’s value of equities traded. BOV gained 0.8% to the €1.34 level across twelve trades totalling 32,240 shares.

Also in the banking sector, HSBC Bank Malta plc moved 0.8 % higher to the €1.28 level on muted activity.

PG plc climbed 1% higher to the €2.12 level on one deal of 1,161 shares.

Harvest Technology plc rebounded by 13.7% to the €0.745 level across two deals totalling 3,348 shares.

Within the same sector, BMIT Technologies plc held the €0.398 level as 3,532 shares changed hands.

Malta International Airport plc traded flat at the €5.60 level across two deals totalling 2,000 shares.

A single trade of 7,847 shares left the share price of Tigné Mall plc at the €0.82 level.

Simonds Farsons Cisk plc stayed at the €7.00 level on trivial volumes.

GO plc dropped by 2.5% to the €3.18 level across two deals totalling 1,260 shares as it started trading ex-dividend. GO shareholders as at the close of yesterday’s trading will receive an interim dividend of €0.15 per share on Thursday 1 February 2024.

APS Bank plc fell by 1.8% to the €0.56 level across four trades totalling 27,378 shares.

Hili Properties plc eased by 0.9% to the €0.214 level on a single deal of 16,000 shares.

The preference shares of RS2 plc shed 1.5% to the €1.35 level across lacklustre volumes.

The RF MGS Index moved lower for the third consecutive session as it declined by a further 0.41% to 981.780 points. Eurozone sovereign bond yields continued to increase with the German 10-year bund yield climbing to a one-month high of 2.28%. Today, ECB President Christine Lagarde commented that inflation is on track to fall to its 2% target, but it is still premature to conclude that inflation is under control. In this respect, she said that the ECB will have more visibility in the late Spring when data on collective wage agreements and household income is available. Meanwhile in the UK, inflation during December rose for the first time in ten months to 4%, which was higher than the forecasted figure of 3.8%. The largest contributor to the increase in inflation came from the prices of food and tobacco.

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.