Daily Market Highlights (02.08.2021)

HSBC Malta reports improved results

 

The MSE Equity Price Index advanced by 0.28% to 3,843.170 points as the gains in HSBC, MIA, and Farsons outweighed the declines in BMIT, GO, Lombard, MIDI, and Malita. Meanwhile, BOV, IHI, and Malta Properties closed unchanged as overall trading activity amounted to just under €0.09 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc was today’s best performing equity as it surged by 3.8% to the €0.82 level across one trade of 20,000 shares. Today, HSBC Malta published its interim financial results covering the six-month period ended 30 June 2021. HSBC Malta reported an improved financial performance boosted by the favourable market movements within the Bank’s life assurance subsidiary and lower levels of expected credit losses. Overall, HSBC Malta generated a net profit of €11.4 million during the first six months of the year, in contrast to the €1.18 million in H1 2020. HSBC did not declare an interim dividend.

Also among the large equities by market cap, Malta International Airport plc added 1.6% as it regained the €6.30 level on two deals totalling 3,062 shares.

Simonds Farsons Cisk plc gained 0.6% to the €8.30 level on five trades totalling 1,898 shares.

Meanwhile, GO plc lost 1.2% to the €3.36 level on a single deal of 900 shares. GO will be publishing its 2021 interim financial results on 9 August.

GO’s data centre subsidiary, BMIT Technologies plc also lost 1.2% to the €0.484 level albeit on insignificant volumes. BMIT will be publishing its 2021 interim financial results on 6 August.

Malita Investments plc lost 1.8 % to a new 15-month low at the €0.805 level on a single deal of 3,000 shares.

Elsewhere, Lombard Bank Malta plc shed 1.1% to the €1.84 level on one trade of 1,487 shares.

Today’s worst performing equity was MIDI plc which slumped by 4.4% to a five-week low at the €0.344 level on a single deal of 2,500 shares.

Bank of Valletta plc closed unchanged at the €0.90 level across four trades totalling 13,618 shares, after recovering from an intraday low of €0.895 (-0.6%). Last week, BOV published its interim financial results covering the six-month period ended 30 June 2021. BOV reported a significant jump in pre-tax profit which amounted to €25.9 million compared to €13.8 million in H1 2020. The improvement in performance mainly emanated from a release of €3 million in impairments and a substantial improvement in the performance of associate companies. BOV did not declare an interim dividend.

Similarly, International Hotels Investments plc closed unchanged at the €0.65 level across seven trades totalling 28,082 shares, after recovering from an intraday low of €0.58 (-10.8%).

Malta Properties Company plc traded flat at the €0.525 level on a single trade of 1,566 shares. The company will be issuing its interim financial statements on 5 August.

The RF MGS Index opened the week in positive territory with a 0.08% gain to 1,104.455 points. The Eurozone Manufacturing Purchasing Managers Index for July exceeded expectations, albeit the growth rate is slightly lower than the previous four months reflecting weaker expansion in Spain, France, and Italy. Germany’s manufacturing sector achieved faster growth although the high demand is still held back by supply shortages for semiconductors and other intermediate goods. Meanwhile, June’s German Retail Sales advanced by 4.2% over the previous month, well ahead of the expected 2% growth.

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