Daily Market Highlights (03.03.2020)

Strong trading activity in HSBC & RS2


The MSE Equity Price Index rebounded by 0.27% from its ten-week low of 4,599.235 points to back above the 4,600 mark as the gains in five companies outweighed the drops in MIA and IHI. Trading volumes remained elevated as €0.69 million worth of shares changed hands. However, close to 80% of today’s activity took place in just two equities – namely HSBC and RS2. Download today’s Equity Market Summary.

HSBC Bank Malta plc advanced by 1.9% to the €1.07 level across 259,631 shares. Shareholders as at close of trading on Thursday 5 March will be entitled to receive a final net dividend of €0.014 per share.

RS2 Software plc approached its all-time high of €2.56 as it added 1.6% to the €2.54 level on six deals totalling 108,922 shares.

Also among the large companies, Bank of Valletta plc recaptured the €1.05 level (+1%) albeit on just 13,663 shares.

BMIT Technologies plc gained 0.9% to an eight-month high of €0.545 across 146,620 shares. The company is due to publish its 2019 full-year results on 12 March. The Directors will also consider recommending a dividend. In the Prospectus dated 7 January 2019, the dividend for the 2019 financial year was estimated at €0.0216 per share.

The other positive performing equity today was Grand Harbour Marina plc with an uplift of 9.1% to the €0.60 level on light volumes totalling 18,300 shares.

Low trading activity also took place in the equity of International Hotel Investments plc which lost 1.3% to a six-month low of €0.74 on volumes of just 2,557 shares. Yesterday, IHI announced the signing of an additional management agreement for a new ultra-luxury Corinthia Hotel in Gewan Island, Qatar. The development will also include luxury villas, a golf course and a beach club, which will all be managed by IHI through Corinthia Hotels Limited.

Malta International Airport plc eased by 0.7% back to the €6.80 level across 5,650 shares. Shareholders as at close of trading on 7 April will be entitled to receive a final dividend of €0.10 per share.

Following yesterday’s upsurge which was the sharpest in over a week, the RF MGS Index eased by 0.04% today to 1,157.889 points. Movements across international financial markets remained volatile, largely overshadowed by the various uncertainties related to the global spread of the coronavirus. In this respect, the US Federal Reserve reverted to an emergency 50 basis point interest rate cut and pledged that it “will use its tools and act as appropriate to support the economy”.