BOV and HSBC pull MSE Equity Price Index lower

 

The MSE Equity Price Index fell by 0.38% to 3,867.314 points mainly driven by declines in BOV and HSBC. Furthermore, MaltaPost also moved lower whilst gains were seen in APS, BMIT and Lombard. Meanwhile, two other equities remained unchanged as today’s total trading activity in local equities amounted to €0.40 million. Download today’s Equity Market Summary.

Bank of Valletta plc shed 1.8% to the €1.65 level across nine trades totalling 78,965 shares.

Also in the banking sector, HSBC Bank Malta plc moved 0.6% lower to the €1.65 level on two trades amounting to 12,610 shares.

A single trade of 4,066 shares pulled the share price of MaltaPost plc 6.8% lower to the €0.41 level.

On the other hand, APS Bank plc gained 1.2% to the €0.50 level over four trades amounting to 40,000 shares.

Also in the banking sector, Lombard Bank Malta plc rose by 1.3% to the €0.77 level albeit over trivial volumes

BMIT Technologies plc surged by 2.9% to the €0.35 level as 59,837 shares changed hands.

Meanwhile, Malta International Airport plc closed unchanged at the €6.10 level across nine trades amounting to 34,147 shares. Shareholders as at the close of trading tomorrow will be eligible to receive a net interim dividend of €0.06 per share, payable by not later than Friday 13 September 2024.

FIMBank plc traded flat at the USD0.2 level on two deals amounting to 3,955 shares.

Today, International Hotel Investments plc announced that its Board of Directors is scheduled to meet by Friday 30 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024.

Today, Grand Harbour Marina plc announced that its Board of Directors is scheduled to meet on Thursday 29 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024.

The RF MGS Index remained relatively unchanged at 904.744 points. During an interview today, Minneapolis Fed President Neel Kashkari stated that rate cuts are on the table during September’s monetary policy meeting as the threat of rising inflation is being overtaken by that of higher unemployment. Nonetheless, Kashkari noted that only a 25-basis point cut is potentially merited since layoffs and the number of Americans filing for unemployment still remained low. Furthermore, last Friday St Louis Fed President Alberto Musalem and Atlanta Fed President Raphael Bostic also signalled that the federal funds rate will be reduced next month.

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