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HSBC lifts local equity index to 3-week high

The MSE Equity Price Index trended higher for a third consecutive day as it climbed by a further 0.79% to a three-week high of 4,339.354 points. Thursday’s gain in the local equity index was mainly driven by the surge in the share price of HSBC as well as the uplift in the share prices of MIA and IHI. Trading volumes improved further to a one-week high of €0.36 million.

HSBC Bank Malta plc jumped 4.1% to regain the €1.78 level across 19,493 shares.

A single deal of 95,725 shares lifted the equity of International Hotel Investments plc 1.6% higher back to the €0.63 level.

Malta International Airport plc moved to a fresh all-time high of €5.75 (+1.8%) on heightened activity totalling 33,717 shares having a total value of €0.19 million. MIA is soon expected to announce the traffic results for the month of August.

In the property segment, Malta Properties Company plc added 2% to recapture the €0.51 level whilst MIDI plc and Malita Investments plc traded unchanged at the €0.57 and €0.87 levels respectively. Trading activity in these three equities was shallow.

FIMBank plc retained its five-month high of USD0.59 on just 4,109 shares whilst Bank of Valletta plc retreated back to the €1.50 level across 29,498 shares.

PG plc slipped 1.4% to the €1.36 level on activity totalling 14,920 shares.

The RF MGS Index slipped by 0.09% from its one-week high to 1,088.215 points as euro sovereign yields rose amid extended volatility in financial markets, partly reflecting uncertainties related to the imposition of further trade tariffs by the US on imported goods from China.

www.rizzofarrugia.com 

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