Daily Market Highlights (03.01.2022)

Local equity market slides during first session of 2022

 

On the first day of trading in the new year, the MSE Equity Price Index dropped by 1.43% to 3,888.207 points reflecting the declines in the share prices of GO, BMIT, Farsons, Trident and GHM. Meanwhile, BOV and VBL remained unchanged as €0.07 million worth of shares changed hands. Download today’s Equity Market Summary.

GO plc lost 3% to the €3.26 level on two deals totalling 11,000 shares.

GO’s data centre and IT managed services subsidiary – BMIT Technologies plc – eased by 0.4% to the €0.478 level on a single trade of 30,000 shares.

Simonds Farsons Cisk plc was today’s worst performing equity as it slumped by 16.6% to the €8.05 level, albeit on low volumes of just 120 shares.

A single deal of 1,502 shares pulled the share price of Trident Estates plc 2.6% lower to the €1.50 level.

Grand Harbour Marina plc dropped by 1.5% on trivial volumes.

Elsewhere, Bank of Valletta plc remained at the €0.90 level after recovering from an intraday low of €0.87 (-3.3%). A total of 13,248 shares traded.

VBL plc stayed at its all-time high of €0.30 on a single trade of 20,000 shares.

The RF MGS Index extended its negative trend as it lost another 0.24% to an over 7-year low of 1,073.475 points. Sovereign bond yields in the eurozone continued to climb higher amid investor optimism about the economic recovery. Fresh purchasing managers’ statistics published today showed that manufacturing activity within the single currency block remained strong throughout December 2021 despite the setbacks caused by the Omicron variant. Meanwhile, prices of natural gas within Europe fell by over 60% over the past two weeks following improving supplies and warmer weather conditions than those typical for the period.

 

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.

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