Daily Review 25.01.2024

MSE Equity Price Index falls to one-month low


The MSE Equity Price Index extended yesterday’s decline as it fell by a further 0.79% to 3,739.068 points, the lowest level since 21 December 2023. The declines in BOV, GO, MIA, Malita, and Farsons outweighed the gain in HSBC. Meanwhile, four other equities closed unchanged as the total trading activity in local equities amounted to €0.12 million. Download today’s Equity Market Summary.

Malita Investments plc accounted for nearly half of today’s value of equities traded as it shed 1.7% to the €0.58 level on a deal of 103,040 shares.

GO plc fell by 3.8% to an almost one-month low of €3.04 as 3,160 shares changed hands. GO failed to hold onto an intra-day high of €3.20 (+1.3%).

Also among the large companies by market value, Simonds Farsons Cisk plc ended the session 4.4% lower at a two-month low of €6.50 over three trades totalling 1,279 shares. However, most of the trading took place at the €6.70 level.

Malta International Airport plc dropped by 1.8% to the €5.50 level across seven deals amounting to 2,857 shares.

Bank of Valletta plc eased by 0.8% to the €1.30 level after failing to hold onto an intraday high of €1.32 (+0.8%) across six deals totalling 12,552 shares.

On the other hand, HSBC Bank Malta plc advanced by 0.8% to the €1.28 level, after partially retreating from an intraday high of €1.29 (+1.6%) across three trades totalling 1,416 shares.

A single deal of 1,698 shares left the share price of Trident Estates plc unchanged at the €1.21 level.

Malta Properties Company plc traded flat at the €0.356 level as 8,570 shares changed hands.

APS Bank plc held the €0.55 level on two trades totalling 7,500 shares.

International Hotel Investments plc closed unchanged at the €0.454 level after failing to hold to an intraday high of €0.47 (+3.5%) across three deals amounting to 4,119 shares.

The RF MGS Index declined by 0.29% to a fresh one-month low of 887.990 points. During a monetary policy meeting today, the ECB decided to leave its key interest rates unchanged as expected. Following the meeting, ECB President Christine Lagarde stated that the consensus during the meeting was that it was premature to discuss interest rate cuts until it was clearer that inflation would reach its 2% medium-term target. Meanwhile, data released today showed that the economy in the United States grew by 3.3% in the last quarter of 2023, which is higher than expectation of 2.0% growth.


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.