Four equities push the MSE Equity Price Index lower

The MSE Equity Price Index dropped by 0.56% to 3,778.098 points as the declines in BOV, Hili Properties, HSBC, and PG outweighed the gain in APS. Meanwhile, five other equities closed unchanged as today’s trading activity in local equities amounted to €0.29 million. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity for the fifth consecutive session as it eased by 0.6% to €1.74 across fifteen deals having a market value of €0.13 million. Earlier this week, BOV announced that the company’s Board of Directors resolved to distribute a net interim dividend of €0.06 per share, which is twice as much as the interim dividend declared in October last year. Shareholders of BOV as of the close of trading on Friday 8 November 2024 will be entitled to receive the dividend payable on Wednesday 27 November 2024.

Also in the local retail banking sector, HSBC Bank Malta plc fell by 4.2% to the €1.36 level across fourteen trades totalling 58,042 shares.

Hili Properties plc also shed 4.2% to the €0.226 level as 50,000 shares changed hands.

PG plc moved 0.5% lower to the €1.89 level on muted activity.

In contrast, APS Bank plc advanced by 3.6% to the €0.57 level on ten deals totalling 26,000 shares.

Simonds Farsons Cisk plc traded flat at the €6.70 level across volumes totalling 6,002 shares.

The ordinary shares of RS2 plc closed unchanged at the €0.52 level after recovering from an intraday low of €0.48 (-7.7%) across 6,522 shares.

MaltaPost plc also closed unchanged at the €0.47 level as 29,160 shares changed hands.

Likewise, Malta International Airport plc held the €5.95 level on muted activity.

FIMBank plc remained at the USD0.16 level on weak volumes.

The RF MGS Index increased for the fourth consecutive session as it rose by a further 0.08% to a fresh two-week high of 918.082 points. The gains were largely driven by increased in bid prices for short- and medium-term MGS, while a number of long dated MGS remained at yesterday’s bid prices. While the eurozone sovereign bond yields decline minimally following yesterday’s ECB rate cut, the US Treasury yields remained elevated with the US 10-year hovering close to a two-month high of 4.1%. The stronger than expected results from multiple large companies in the US revived sentiment that the US economy remains resilient.

 

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.