MSE Equity Price Index falls to one-month low

 

The MSE Equity Price Index decreased by 0.30% to a one-month low of 3,781.826 points as the declines in MIA, HSBC, Harvest, Malta Properties, Farsons and the ordinary shares of RS2 outweighed the gains in BMIT, Medserv and MIDI. Meanwhile, three other equities closed unchanged as today’s total trading activity in local equities amounted to €0.21 million. Download today’s Equity Market Summary.

Malta International Airport plc shed 1.7% to the €5.80 level over five deals amounting to 13,215 shares.

Malta Properties Company plc declined by 4.4% to the €0.35 level over three deals amounting to 9,866 shares.

The ordinary shares of RS2 plc slumped by 4.0% to the €0.48 level across three trades totalling 13,377 shares.

Simonds Farsons Cisk plc moved 0.7% lower to the €6.65 level as 804 shares changed hands.

Also among large companies by market value, HSBC Bank Malta plc declined by 0.7% to the €1.45 level on two trades amounting to 6,106 shares.

Harvest technologies plc fell by 7.1% to the €0.85 level on two deals totalling 1,300 shares.

On the other hand, MedservRegis plc rose by 6.1% to the €0.52 level across five trades amounting to 100,000 shares. Last Thursday, MedservRegis issued an Interim Report providing information on their financial and business performance during the nine-month period ended 30 September 2024. The Medserv Group generated total revenue of €50.2 million which was practically unchanged compared to the corresponding period in 2023. The 27.4% increase in revenue from OTCG to €26.5 million (Q3 2023 YTD €20.8 million) fully offset the 20% decline in turnover from ILSS to €23.3 million (Q3 2023 YTD €29.1 million). EBITDA during the nine-month period amounted to €12.6 million which is 7.7% higher than the €11.7 million reported for the same period last year. The growth in EBITDA is reflective of improved margins strengthening the Group’s profitability from its core operations. In this respect, the EBITDA margin for the first nine months of the year improved to 25.1% compared to 23.3% in the first three quarters of 2023.

BMIT Technologies plc closed 5.4% higher at the €0.35 level over seven deals totalling 44,666 shares, nonetheless the volume weighted average price was €0.33 (-0.6%).

MIDI plc gained 1.7% to the €0.234 level on two deals amounting to 27,000 shares.

Meanwhile, APS Bank plc traded flat at the €0.55 level across four trades totalling 12,139 shares.

Also in the banking sector, Bank of Valletta plc held the €1.71 shares in a single trade of 11,500 shares.

GO plc closed unchanged at the €2.74 level over five deals totalling 5,200 shares.

The RF MGS Index rose by 0.39% to a one-month high of 918.573 points, as sovereign bond yields in the eurozone continued to decline. In fact, the German 10-year bund yield fell to a one-month low of 2.22% as investors are now pricing in a chance of a 50-basis point cut during the ECB’s upcoming monetary policy meeting next December. Today, the ECB chief economist Philip Lane stated that monetary policy should not remain restrictive for too long as inflation may fall below the target of 2% at the cost of weak economic growth and increasing recession risks. Currently, inflation is anticipated to accelerate to 2.4% by the end of the year driven by pressures from volatile food and energy prices and it will then ease back to 2.0% by the middle of 2025.

 

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