Daily Market Highlights

July 6, 2020

Quiet day across local equities

 

The MSE Equity Price Index closed virtually unchanged today at 4,021.552 points on continued weak activity. BOV, BMIT and PG ended the day higher whilst GO and RS2 closed in the red. Meanwhile MIA, Mapfre and Farsons traded flat. Download today’s Equity Market Summary.

Among today’s positively performing equities, PG plc rose by 1% to the €1.97 level across a single trade of 2,000 shares.

In the banking sector, Bank of Valletta plc advanced by 1% as it returned to the €1.01 level on volumes of 19,614 shares.

Meanwhile, BMIT Technologies plc moved 2% higher to the €0.49 level across 30,000 shares.

RS2 Software plc lost 0.8% to the €2.36 level across two trades totalling 2,255 shares. The company will be holding its Annual General Meeting on 30 July.

Elsewhere, GO plc shed 1.7% to the €3.44 level albeit across insignificant volumes.

Similarly, Malta International Airport (€5.75) and Simonds Farsons Cisk plc (€8.00) traded flat across trivial volumes.

Mapfre Middlesea plc failed to hold onto an intraday high of €2.02 (+1%) as it closed unchanged at the €2.00 level across 6,880 shares.

The RF MGS Index resumed its recent negative trend as it fell by 0.17% to 1,097.724 points. Market sentiment improved despite the surge in new coronavirus cases over recent days and instead focused on upbeat economic data. The Eurozone’s retail trade rose by a record 17.8 percent from a month earlier in May 2020, recovering from two consecutive months of record falls and compared to market expectations of a 15 percent jump, as several countries across the region lifted coronavirus-induced lockdown measures. Meanwhile in the US, the ISM Non-Manufacturing PMI jumped to 57.1 in June from 45.4 in the previous month, beating market forecasts of 50.1. The reading pointed to the biggest increase in services activity since February before the coronavirus outbreak. It is also the largest single-month percentage-point increase ever as businesses start to reopen after the lockdown.