Daily Review 28.01.2024

BOV pushes the MSE Equity Price Index higher

 

The MSE Equity Price Index rose by 0.31% to 3,740.030 points as the gains in BOV outweighed the declines in Computime, Hili Properties, and Trident. Meanwhile, seven other equities closed unchanged. Dwonload today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity for the second consecutive session as it moved 1.8% higher to the €1.74 level across fifteen trades totalling 118,239 shares having a market value of over €200,000.

Meanwhile, APS Bank Malta plc traded flat at the €0.565 level as 5,587 shares changed hands.

Also in the banking sector, HSBC Bank Malta plc held the 1.40 level on trivial volumes. Today, HSBC Malta announced that it entered into a 3-year unsecured €60 million loan agreement with its parent company HSBC Continental Europe to meet the minimum requirement for own funds and eligible liabilities as set by the Single Resolution Board. The loan has an option of early repayment as from the second year and bears interest at a rate equal to 3-months EURIBOR plus a margin of 76 basis points which currently results in an effective rate of around 3.40%.

A single trade of 800 shares left the share price of Malta International Airport plc unchanged at the €6.20 level.

Also among large companies by market value, Simonds Farsons Cisk plc closed unchanged at the €6.60 level on a single trade of 500 shares.

MIDI plc held the €0.248 level across three deals amounting to 40,000 shares.

The ordinary shares of RS2 plc held the €0.50 level on one trade of 2,000 shares. Likewise, the preference shares of RS2 plc closed unchanged at the €0.49 level on a single deal of 3,409 shares.

On the other hand, Trident Estates plc decreased by 2.7% to the €1.07 level across four trades totalling 8,095 shares.

Hili Properties plc dropped by 2.5% to the €0.195 level over three deals amounting to 52,226 shares.

Computime Holdings plc shed 2.2% to the €0.44 level on two deals amounting to 8,000 shares.

The RF MGS Index fell by 0.08% to a one-week low of 908.525 points. Data released today showed that the unemployment level in Spain fell to 10.6% in the fourth quarter of 2024, the lowest level in over fifteen years. Elsewhere in the US, house prices increased by 4.3% in November, compared to 4.2% in the previous month, in line with expectations.

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.