Daily Market Highlights

September 25, 2020

BOV and Plaza lift MSE Equity Index


Today, the MSE Equity Price Index added 0.28% to close the shortened week at 3,587.052 points as the gains in BOV and Plaza outweighed the decline in HSBC. Meanwhile, four other equities traded unchanged as trading activity remained subdued at €0.05 million. Download a copy of today’s Equity Market Summary.

Plaza Centres plc rose by 3.7% to the €0.97 level across a single trade of 8,076 shares. Yesterday afternoon, Plaza announced that it purchased a total of €250,000 (nominal) of its 3.9% unsecured 2026 bonds. Plaza explained that between 25 September and 24 October 2020, it intends to stand in the secondary market with a view of repurchasing up to a further €2 million from the aforementioned bonds at a fixed price of 103.50%. Furthermore, depending on the level of acceptances of the said offer to repurchase bonds, the company explained that it may elect to extend or repeat such offer in the future. Any bonds repurchased will be cancelled and may not be re-issued or re-sold. Meanwhile, earlier this week, the company issued its agenda for the upcoming Annual General Meeting which includes an extraordinary resolution related to a buy-back of a maximum of 10% of the issued share capital (equivalent to 2,824,200 shares) at a price not lower than €0.74 per share and not higher than €1.12 per share.

Today’s only other positively performing equity, Bank of Valletta plc, climbed by 3.3% to the €0.88 levels across 6,227 shares.

In the same sector, HSBC Bank Malta plc returned to its multi-year low of €0.76 as it fell by 2.6% across 14,666 shares.

Also among the large companies by market cap, Malta International Airport plc closed unchanged at the €4.78 level as 1,100 shares changed hands.

A single trade of 2,000 shares left GO plc rooted to the €3.24 level, whilst its subsidiary BMIT Technologies plc also traded flat at the €0.468 level across 15,000 shares.

Similarly, Malita Investments plc failed to hold onto an intraday high of €0.90 (+0.6%) as it retained the €0.895 level across 6,500 shares.

The RF MGS Index declined by a further 0.09% to 1,111.128 points as it continued to ease from the 20-week high reached on Wednesday. The move lower follows an eight-day winning streak as mixed PMI data, rising coronavirus cases in Europe and the reintroduction of social-distancing restrictions hampered market sentiment considerably.