Daily Market Highlights

July 14, 2020

GO share price surges 3%

 

The MSE Equity Price Index erased yesterday’s decline as it added 0.56% to 3,956.438 points. GO, BOV and MPC trended higher whilst IHI, Farsons and Malita closed the day unchanged as trading activity remained subdued with only €0.07 million worth of shares changing hands. Download today’s Equity Market Summary.

GO plc advanced by 3% to regain the €3.40 level across 7,300 shares. GO shareholders as at close of trading on Wednesday 15 July will be given preference when participating in the upcoming subscription period of the 4% Cablenet Communication Systems 2030 bond issue should this be approved by the Listing Authority.

Also among the large companies, Bank of Valletta plc moved 2% higher back to the €1.00 level albeit on just 3,000 shares. Tomorrow, BOV’s life insurance associate – Mapfre Middlesea plc – will kick start the interim reporting season as the company is scheduled to publish its interim financial results covering the six-month period ended 30 June 2020.

Low trading activity also took place in the equities of Malta Properties Company plc and International Hotel Investments plc. MPC added 0.9% to €0.56 whilst IHI maintained the €0.57 level.

Two deals totalling 3,972 shares left the equity of Simonds Farsons Cisk plc at the €8.00 level.

Malita Investments plc also traded flat at the €0.91 level across 13,000 shares.

The RF MGS Index resumed its recent upward trend as it edged 0.02% higher to 1,101.964 points. Euro zone bond yields inched lower as economic sentiment in Germany as well as industrial production data across the single currency block disappointed. Meanwhile, concerns over the negative economic impact of COVID-19 rose markedly after California (which is the largest economy in the US and one of the largest in the world) announced the re-closing of restaurants, bars and movie theatres in response to a surge in coronavirus cases.