Daily Market Highlights (05.05.2020)

MSE Equity Price Index rebounds to 7-week high


The MSE Equity Price Index resumed its positive trend today as it climbed by 1% to a 7-week high of 4,036.550 points, albeit across lacklustre volumes of just €0.07 million. The gains in BOV, GO, IHI, MIA and MaltaPost outweighed the losses in MIDI whilst four other equities remained unchanged. Download today’s Equity Market Summary.

Malta International Airport erased yesterday losses as the equity rose by 1% to return to the €5.10 level across 800 shares.

Similarly, GO plc surged by 7.2% to the €3.86 level on low volumes of 2,405 shares.

A single trade of 4,720 shares saw Bank of Valletta plc rise nearly 1% as the equity recaptured the €1.05 level.

International Hotel Investments plc recovered from an intraday low of €0.56 (-3.4%) and closed at the €0.59 level, registering a gain of 1.7% across 2,100 shares.

Meanwhile, MaltaPost plc climbed 0.8% to the €1.21 level across 11,066 shares.

Today’s only negatively trading equity was MIDI plc which fell by 1.5% to the €0.39 level across a single trade of 13,000 shares.

Elsewhere, HSBC Bank Malta plc retained the €1.02 level across 6,890 shares.

Simonds Farsons Cisk plc traded flat at the €8.30 level as 600 shares changed hands. The annual financial statements of Farsons for the year ended 31 January 2020 will be published on 27 May.

RS2 Software plc ended the day unchanged at the €2.06 level on volumes of 3,900 shares.

Main Street Complex plc continued to trade at its all-time low of €0.45 across 19,613 shares. Yesterday, the company announced that it re-opened its doors following an announcement issued by the Minister of Health and Superintendent of Public Health on 1 May 2020, which stated that shopping malls were being given authorisation to resume activity subject to strict adherence to specific measures and procedures. The company also stated that all the necessary preparations were made in order to ensure that all mitigation measures are in place. Such measures will be maintained on a consistent basis with a view to safeguarding the health and wellbeing of patrons and staff.

Today, Tigné Mall plc also announced that The Point shopping mall re-opened for business following the same announcement made by the Minister of Health and the Superintendent of Public Health last Friday. The mall’s operation resumed subject to strict adherence to the stringent health and safety measures and procedures as laid down by the public health authorities. Meanwhile, the mall’s opening hours have also been reduced for this initial period.

The RF MGS Index lost 0.13% to 1,121.164 points as the spread between the German 10-Year Bund and its European counterparts widened today. The widening of the spreads follows news that Germany’s top court dismissed a suit from just under 2,000 German academics and others seeking to stop the ECB’S sovereign bond purchases outright. However, the court also ordered the German government and parliament to ensure that the European Central Bank (ECB) carried out a proportionality assessment of its purchases of government debt to ensure that their economic and fiscal policy effects did not outweigh it policy objectives. The court also threatened to block fresh purchases of German bonds through the ECB’s stimulus programme if the ECB did not carry out said assessments within three months. The ECB bought more than €2.2 trillion in public sector debt since launching QE in 2014 in an attempt to halt a slide in inflation.