Daily Market Highlights

January 24, 2022

MSE Equity Price Index slips to 6-week low

 

The MSE Equity Price Index opened the week in negative territory as it retracted by a further 0.62% to a six-week low of 3,751.691 points. HSBC, MIA and PG trended lower whilst BOV, BMIT and FIMBank moved higher. Meanwhile, GO and the ordinary shares of RS2 ended the day unchanged as overall trading activity in equities remained muted as only €0.17 million worth of shares changed hands. Download today’s Equity Market Summary.

HSBC Bank Malta plc dropped by 8.1% to the €0.855 level on a total of 76,014 shares.

Also among the large companies by market value, Malta International Airport plc eased by 0.9% back to the €5.80 level across 1,800 shares.

The other negative performing equity today was PG plc as it retreated by 1.7% to a fresh five-month low of €2.30 level on activity totalling 8,000 shares.

Bank of Valletta plc advanced by 1.2% to the €0.84 level across 24,230 shares.     

Also in the banking sector, FIMBank plc climbed by 1.6% to recapture the USD0.26 level on 20,000 shares.

BMIT Technologies plc was the best performing equity today as it surged by 2.9% to the €0.496 level on five deals totalling 50,300 shares.

BMIT’s parent company – GO plc – remained at the €3.22 level after opening at a high of €3.24 (+0.6%). A total of 6,232 shares traded.

Two deals totalling 6,663 shares left the ordinary shares of RS2 Software plc at the €1.67 level.

The RF MGS Index advanced for the third consecutive day as it inched higher by 0.18% to 1,070.964 points. Sovereign bond yields in the euro area trended lower despite comments made by the World Health Organisation saying that the Omicron variant has moved the COVID-19 pandemic into a new phase which could bring it to an end in Europe. Elsewhere, investor concerns mounted over heightened political tensions between NATO and Russia over Ukraine.

 

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.