Daily Market Highlights (01.07.2021)

RS2 ordinary shares sink to over 15-month low


The MSE Equity Price Index slipped by 0.66% to 3,876.428 points following the sharp decline in RS2. Meanwhile, BMIT and MIDI traded in positive territory whilst BOV, HSBC, MIA and Medserv closed unchanged. Meanwhile, overall trading activity surged to €0.67 million, largely on account of the heightened activity in RS2 which accounted for just over 83% of today’s total value traded. Download today’s Equity Market Summary.

The ordinary shares in RS2 Software plc plunged by 10.9% to the €1.71 level across 325,041 shares – its lowest closing price since 24 March 2020.

In the same sector, BMIT Technologies plc regained the €0.50 level as it advanced by just over 2% across 30,000 shares.

Meanwhile, MIDI plc surged by 15.8% to a two-week high at the €0.428 level as 7,233 shares changed hands.

In the retail banking sector, HSBC Bank Malta plc recovered from an intraday low of €0.78 (-2.5%) to close flat at the €0.80 level across 23,705 shares whilst Bank of Valletta plc similarly recovered from an intraday low of €0.88 (-1.7%) to close unchanged at the €0.895 level as 24,517 shares changed hands.

Malta International Airport plc held onto the €6.40 level across 8,373 shares.

Elsewhere, Medserv plc remained at the €0.75 level across a single deal of insignificant volumes.

The RF MGS Index gained 0.07% to 1,099.053 points as various Eurozone yields retreated further amid a warning issued by the World Health Organization that Europe could be hit with a new wave of Covid-19 cases. Meanwhile, the IHS Markit Eurozone Manufacturing PMI was revised higher to a new record high of 63.4 in June, marking the twelfth successive month of expansion in the sector. Furthermore, the Eurozone seasonally-adjusted unemployment rate edged down to 7.9% in May, the lowest level since May 2020 and slightly below market expectations of 8.0%. Meanwhile in the US, the ISM Manufacturing PMI was slightly lower than expectations amid a slowdown for new orders and supplier deliveries, which outweighed the increases in production and export orders.

Yesterday, the Treasury announced that it received a total of €103 million (nominal) for the two new Malta Government Stocks. The Treasury allotted €13.6 million in the 0.25% MGS 2026 (III) F.I. and €47.0 million in the 1.80% MGS 2051 (I). All applications received from the general public, which amounted to €16.1 million, were met in full. Meanwhile, the remaining €44.5 million (nominal) were allotted to institutional investors.

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