Daily Market Highlights (05.01.2022)

MSE Equity Price Index posts 3-day negative streak

 

The MSE Equity Price Index moved lower for the third consecutive day as it retracted by a further 0.83% to 3,840.325 points. MIA, GO and HSBC ended the day in negative territory whilst only the preference shares of RS2 trended higher. Meanwhile, BOV, Harvest, and Hili Properties closed unchanged as overall trading activity in equities contracted to just €0.03 million. Download today’s Equity Market Summary.

Malta International Airport plc dropped by 2.5% to the €5.85 level on a single deal of 1,000 shares.

Also among the large companies by market value, GO plc moved 1.2% lower to a 10-month low of €3.22 albeit on trivial volumes.

HSBC Bank Malta plc was today’s worst performing equity as it slumped by 5.5% to the €0.865 level on 4,276 shares.

Also in the retail banking sector, Bank of Valletta plc remained at the €0.865 level after failing to hold to an intraday high of €0.87 (+0.6%). A total of 1,467 shares changed hands. Subject to regulatory approval, shareholders as at close of trading on 11 January will be entitled to receive a net interim dividend of €0.01716 per share which will be paid on 28 January.

Hili Properties plc traded for the first time since last month’s IPO as the share price stayed at the €0.27 level on activity totalling 5,000 shares.

A single deal of 15,000 shares left the share price of Harvest Technology plc at the €1.45 level.

Meanwhile, the preference shares of RS2 Software plc advanced by 1.8% to the €1.73 level on 2,400 shares.

The RF MGS Index continued to drift lower as it eased by a further 0.07% to 1,071.984 points. Inflation concerns resurfaced in Europe as Italy’s inflation rate reached the highest level since August 2008 last month. Elsewhere in the US, employment levels exceeded market expectations as private businesses hired over twice as much as previously anticipated.

Today, AX Investments plc announced that in view of the prevailing situation related to the pandemic, the offer period for the combined issuance by AX Real Estate plc is being extended up to 31 January 2022 (or earlier at the discretion of AX Real Estate).

 

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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