Daily Market Highlights

February 28, 2022

MSE Equity Price Index slides to 15-month low

 

The MSE Equity Price Index slumped by 2.33% to the lowest level since November 2020 at 3,674.789 points as seven equities closed in negative territory. Meanwhile, Loqus Holdings plc advanced to the €0.15 level (+36.4%) on low activity while Malta Properties Company plc remained unchanged at the €0.52 level on trivial volumes. Download today’s Equity Market Summary.

MIDI plc was the worst performing equity today as it tumbled by 12.2% to the €0.36 level after partially recovering from an intraday low of €0.35 (-14.6%). A total of 95,000 shares changed hands.

Within the retail banking sector, Bank of Valletta plc declined by 1.3% to the €0.79 level on six deals totalling 18,250 shares.

HSBC Bank Malta plc slid by 10.1% to the €0.895 level albeit on negligible volumes.

Also among the large companies by market value, Malta International Airport plc retreated by 0.9% to the €5.80 level on activity totalling 3,694 shares.

International Hotel Investments plc moved 4.2% lower to the €0.575 level on five deals totalling 27,464 shares.

A single trade of 1,747 shares pulled the ordinary share price of RS2 Software plc 6.4% lower to an over two-year low of €1.62.

GO plc eased by 0.6% to the €3.18 level on low volumes.

The RF MGS Index moved higher for the third consecutive session as it added 0.20% to the highest level in nearly three weeks at 1,041.389 points. Movements across international financial markets remained dominated by the latest developments taking place in Ukraine as the international community imposed further harsh sanctions on Russia. Meanwhile, last Friday the ECB noted that it is closely monitoring the situation in east Europe as the central bank stands ready to take whatever action needed to fulfil its responsibilities to ensure price and financial stability in the euro area.

 

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.