Daily Market Highlights (06.02.2020)

Heightened activity in PG shares


The MSE Equity Price Index lost 0.51% to 4,648.276 points as the declines in five large caps outweighed the gains in RS2 and Farsons. Meanwhile, three other shares ended the day unchanged as trading activity soared to just over €0.6 million largely on the back of the surge in volumes in PG. Download today’s Equity Market Summary.

PG plc remained at the €2.02 level across 128,240 shares having a market value of €0.26 million and representing 42% of today’s total value of equities traded.

In the property segment, both Malita Investments plc and Tigné Mall plc traded flat at the €0.90 level on light volumes.

HSBC Bank Malta plc retracted back to its multi-year low of €1.05 (-0.9%) on thirteen deals totalling 81,442 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.

Bank of Valletta plc also trended in negative territory with a drop of 0.9% to a six-week low of €1.05 across 51,024 shares.

A single deal of 2,200 shares forced the equity of GO plc to move 1% lower back to the €4.14 level.

Also among the large companies, Malta International Airport plc shed 1.4% to the €6.85 level albeit on just 1,000 shares. MIA is due to publish its 2019 financial results on 26 February.

The worst performing equity today was FIMBank plc with a drop of 3.3% to the USD0.58 level across 75,806 shares.

Meanwhile, RS2 Software plc recaptured its all-time high of €2.36 (+0.9%) across 35,600 shares.

Simonds Farsons Cisk plc also added 0.9% to regain the €11.00 level on activity totalling 4,723 shares.

The RF MGS Index tumbled 0.4% (the sharpest decline in seven weeks) to 1,148.584 points as investor sentiment across international financial markets improved considerably after China announced the reduction of tariffs on USD75 billion worth of imports from the US. Elsewhere, the President of the Dallas Federal Reserve Bank Robert Kaplan was quoted as saying that he expects the US economy to grow at a “solid” pace this year amid easing trade tensions and resilient manufacturing and business investment morale.