Daily Review 30.01.2025
Gains in BOV, HSBC & APS offset declines in seven equities
The MSE Equity Price Index remained relatively at 3,729.510 points as the gains in APS, BOV, HSBC and Trident outweighed the declines in Hili Properties, IHI, Lombard, MIDI, MIA, M&Z, and Farsons. Meanwhile two other equities closed unchanged as today’s trading activity in local equities amounted to €0.19 million. Download today’s Equity Market Summary.
Bank of Valletta plc gained 1.2% to the €1.74 level across twelve deals totalling 44,768 shares.
Also in the banking sector, APS Bank plc surged 3.4% to the €0.60 level across eight deals amounting to 43,897 shares.
HSBC Bank Malta plc moved 0.7% higher to €1.42 level on a single trade of 3,500 shares.
Trident Estates plc closed the session 4.7% higher at €1.12, albeit on trivial volumes.
In contrast, Lombard Bank Malta plc plummeted by 3.4% to a 10-year low of €0.715 over three trades totalling 7,676 shares.
M&Z plc declined by 2.7% to an all-time low of €0.54 level on two deals amounting to 25,001 shares.
Malta International Airport plc shed 1.6% to the €6.10 level across three trades totalling 737 shares.
Also among large companies by market value, Simonds Farsons Cisk plc fell by 0.8% to the €6.55 level on two trades amounting to 318 shares.
MIDI plc slumped 5.6% to the €0.234 level on a single deal of 189,798 shares.
Also in the property sector, Hili Properties plc moved 1.0% lower to the €0.193 level.
International Hotel Investments plc decreased by 2.3% to the €0.416 level as 24,453 shares changed hands.
Meanwhile, Mapfre Middlesea plc held the €1.36 level on two deals totalling 1,000 shares.
AX Real Estate plc traded flat at the €0.43 level on muted activity.
The RF MGS Index decreased 0.09% to 909.23 points. Today the European Central Bank reduced its deposit rate facility by 25 basis points to 2.75% as anticipated. Following the meeting, ECB President Christine Lagarde commented that the ECB anticipates that inflation will reach the 2% target in 2025. Furthermore, wage growth was also moderating, and the costs are being absorbed by companies, therefore buffering the impact on inflation. Meanwhile, Ms Lagarde stated that the risks to economic growth remain tilted to the downside as greater friction in global trade could further weaken the economy.
Yesterday, the US Federal Reserve is paused its rate cutting cycle following cuts in the previous three consecutive meetings totalling 100 basis points. As a result, the federal funds rate was left unchanged at the 4.25%-4.50% range. Following the meeting, Chairman Jerome Powell commented that the Fed will wait for further progress on inflation and signs of labour market weakness before cutting interest rates further. Moreover, Powell declined to comment on how potential government policies will impact future decisions.
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.