Daily Market Highlights (01.06.2021)

MSE Equity Price Index sheds over 1%

 

The MSE Equity Price Index continued its negative trend as it fell by 1.04% to 3,911.072 points as the declines in several equities outweighed the gains in MIA and MPC. Meanwhile, BMIT, GO and MaltaPost all traded unchanged as overall trading activity increased to €0.14 million. Download today’s Equity Market Summary.

Simonds Farsons Cisk plc closed 8.3% lower at the €8.25 level across heightened activity of 7,800 shares after touching an intraday low of €7.95 (-11.7%) earlier on in today’s session.

Similarly, Lombard Bank Malta plc plunged by 11.7% to a fresh six-week low of €1.96 as 2,923 shares changed hands.

Also in the banking sector, Bank of Valletta plc slipped by 3.3% to the €0.88 level across 12,874 shares whilst HSBC Bank Malta plc drifted 1.2% lower as it returned to the €0.80 level across 9,877 shares.

Trident Estates plc lost 5.4% to the €1.48 level as 4,800 shares changed hands – its lowest closing price since 22 March.

Meanwhile, Medserv plc recovered from an intraday low of €0.565 (-31.3%) to close just 0.6% lower at the €0.825 level as 4,390 shares changed hands.

A single trade of 780 shares lifted Malta International Airport plc 3.2% higher to the €6.40 level.

Malta Properties Company plc advanced by 0.9% to the €0.545 level as 3,100 shares changed hands. The Board of Directors of MPC is recommending the payment of a net dividend of €0.012 per share (2019: €0.01 per share). Shareholders as at close of trading on Friday 11 June 2021 will be entitled to receive this dividend on Wednesday 21 July 2021 subject to shareholders’ approval during the upcoming Annual General Meeting scheduled to be held remotely on Thursday 15 July 2021.

Elsewhere, GO plc remained at the €3.40 level across 5,500 shares whilst BMIT Technologies plc also closed unchanged at the €0.49 level as 24,248 shares changed hands.

MaltaPost plc traded flat at the €1.24 level across a single deal of 785 shares.

The RF MGS Index advanced by 0.07% to 1,104.295 points. Today, inflation concerns resurfaced as Eurozone inflation increased higher than expected during the month of May to 2%, thus exceeding the European Central Bank’s target of “below but close to 2%” for the first time in over two years. Meanwhile, the Eurozone Manufacturing Purchasing Managers Index (‘PMI’) for May also exceeded forecasts, unlike Britain’s PMI which was slightly lower than expectations. Elsewhere, oil prices continued moving higher after OPEC and its allies anticipated that oil surplus will vanish by the end of June as crude stockpiles will decline sharply due to strong demand in the US, China and Europe.

 

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