MSE share price index falls to more than 16-month low
The MSE stock price index extended yesterday’s losses falling another 0.64% to a more than 16-month low of 3,620.657 points. PG, GO and ordinary shares or RS2 fell while MaltaPost plc added 1.9% to regain the level of €1.10 on 4,320 shares. Meanwhile, four other companies ended the day unchanged. Overall equity trading activity declined to 0.19 million euros from 0.24 million euros yesterday.
Malta International Airport plc was the most actively traded stock today as it held the €5.65 level across three trades totaling 26,954 shares with a market value of €0.15m euros and representing 82% of the current total value of shares traded.
Also among large companies by market value, HSBC Bank Malta plc (15,337 shares) and Bank of Valletta plc (7,316 shares) closed unchanged at €0.83 and €0.77 respectively.
Three trades totaling 2,002 shares left the International Hotel Investments plc share price at the €0.60 level.
Weak trading activity also took place in GO plc and the ordinary shares of RS2 Software plc. GO fell 3% to a six-week low of €3.18 while RS2 fell to €1.60 – the lowest level since July 2019.
PG plc fell 2.6% to the €2.24 level on 3,614 shares.
Yesterday, Hili Properties plc announced that it had acquired a 7,863 m² shopping center located in Riga, Latvia for a total consideration of 20 million euros. The property, which is built on a 21,580 m² plot, is located in one of the most densely populated residential areas of Riga. In addition, the shopping center has been operational for fifteen years and benefits from an anchor tenant as well as other successful commercial operators. Following this acquisition, Hili Properties’ real estate portfolio has grown to a total value of 155 million euros spread over 98,000 m² of lettable area across 24 properties.
The RF MGS index continued its downward trend, slipping another 0.34% to 1,018.264 points – the lowest level since December 2013 – as the German 10-year Bund yield jumped to a high of more than 4 years by 0.72%.
This report contains public information only and should not be construed as investment advice or an offer to buy or sell securities. The information contained herein is based on data obtained from sources believed to be reliable, but no representations or warranties are made as to the accuracy of the data. Stock markets are volatile and subject to fluctuations that cannot be reasonably predicted. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company authorized to provide 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.
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