Daily Market Highlights (05.02.2020)

BOV & HSBC forces MSE Equity Price Index to close lower

 

The MSE Equity Price Index eased by 0.17% to 4,672.162 points, largely reflecting the declines in BOV and HSBC which outweighed the increase in GO. Meanwhile, RS2 and Lombard closed the day unchanged as trading activity improved to €0.2 million. Download a copy of today’s Equity Market Summary.

Bank of Valletta plc dropped by 0.9% to the €1.06 level across 29,456 shares.

Within the same sector, HSBC Bank Malta plc also lost 0.9% back to the €1.06 level on five deals totalling 49,026 shares. The bank is due to publish its 2019 full-year financial results on 18 February. The Directors will also consider recommending a final dividend for approval at the AGM scheduled to be held on 8 April.

The other negative performing equity was GlobalCapital plc as it shed 6.7% to the €0.28 level on heightened activity totalling 340,000 shares.

On the other hand, GO plc added 0.5% to regain the €4.18 level albeit on just 2,000 shares.

Low trading activity also took place in the equity of Lombard Bank Malta plc which remained at the €2.28 level.

Three deals totalling 3,445 shares left the equity of RS2 Software plc at the €2.34 level.

Following yesterday’s drop which was the sharpest in three weeks, the RF MGS Index rebounded by a minimal 0.03% to 1,153.168 points. The uplift was driven by the gains in the prices of long-term MGS which outweighed the drop in prices of short and medium term MGS. On the economic front, PMI data in Europe was mainly positive. However, this was partly overshadowed by the weak performance in retail sales which contracted by much more than previously expected in December 2019. Elsewhere, investor sentiment across international financial markets continued to improve amid positive developments in the global fight against coronavirus.

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