The MSE Equity Price Index fell by 0.98% to a one-week low of 3,750.298 points as the decline in eight equities outweighed the gain in Farsons. Meanwhile, four other equities closed unchanged as the day’s total trading activity in local equities amounted to €0.20 million.
AX Real Estate plc was today’s most actively traded equity as it shed 1.9% to the €0.51 level across four deals amounting to 254,700 shares for a value of €0.13 million. AX Real Estate is set to publish its annual financial statements for the financial year 2022/23 by the end of this month.
Malita Investments plc plummeted by 12.3% to the €0.50 level across four trades totalling 38,900 shares. Yesterday, Malita announced that it obtained approval for its Application for Authorisation for Admissibility to Listing to the MFSA in relation to the rights issue of up to 65,825,806 new ordinary shares. Malita shareholders as at the close of trading today will be eligible to subscribe for four new ordinary shares for every nine ordinary shares held (4-for-9 rights issue), which shall form part of the same class and have equal rights to existing shares at a price of €0.50 per new ordinary share.
Mapfre Middlesea plc slumped by 14.4% to a one-month low of €1.25 across three deals totalling 2,214 shares.
Bank of Valletta plc moved 1.5% lower to the €1.30 level as 20,319 shares changed hands.
Also in the banking sector, HSBC Bank Malta plc fell by 0.8% to the €1.29 level over three trades amounting to 2,439 shares. HSBC Bank Malta is likely to publish its annual financial statements for the financial year 2023 next Wednesday, concurrent with its parent company.
GO plc also declined by 0.6% to the €3.10 level across three deals totalling 1,715 shares.
Also among large companies by market value, International Hotel Investments plc declined by 3.8% to the €0.462 level across five deals amounting to 9,277 shares.
Malta Properties Company plc decreased by 2.3% to a one-month low of €0.34 over two trades totalling 6,500 shares.
On the other hand, Simonds Farsons Cisk plc surged by 6.9% to a four-week high of €7.00 on one trade of 200 shares.
Meanwhile, Malta International Airport plc traded flat at the €5.65 level on two trades amounting to 549 shares. On Monday, MIA stated that passenger movements reached a new record for January and amounted to 465,482 passenger movements, which is 11.3% higher than the previous record registered in January 2020, prior to the pandemic. Passenger movements in January 2024 were also 22.7% higher than the movements registered in the same month last year. Meanwhile, the seat load factor for January 2024 stood at 74% compared to almost 77% in January 2023 and 71% in January 2020. However, the airport operator noted that seat capacity increased by 27.4% compared to the same month last year.
A single deal of 1,100 shares of FIMBank plc left its share price unchanged at the USD 0.22 level.
Also in the banking sector, APS Bank plc closed unchanged at the €0.545 level across four deals totalling 11,520 shares, after recovering from an intra-day low of €0.54 (-0.9%).
A single trade of 1,110 shares of HILI Properties plc was executed at yesterday’s closing price of €0.21.
The RF MGS Index snapped a four-day winning streak, falling by 0.42% to 889.145 points. Data released today showed that in January, US producer prices rose by 0.3%. The increase was more than anticipated and the largest in five months. Following the release of the data the US 10-year treasury yield spiked to highs last seen at the end of last November, above 4.3%. The rise in yields reflects more conservative investor sentiment on when the Federal Reserve will reduce the federal funds rate. In this respect, during a speech yesterday, FOMC member Raphael Bostic pushed back on the date of potential cuts as an uneven retreat in the inflation rate is being envisaged and on the back of the resilience of the both the labour market and the macroeconomy in the US.
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.