Daily Market Highlights (07.01.2022)

Several equities trend lower

 

The MSE Equity Price Index erased most of yesterday’s uplift as it retracted by 1.05% to 3,858.788 points. Seven equities ended the day in negative territory whilst only BOV and MedservRegis moved higher. Meanwhile, GO, HSBC, IHI, and Hili Properties remained unchanged as overall trading activity in equities increased to €0.15 million from €0.09 million yesterday. Download today’s Equity Market Summary.

The most actively traded equity today was MedservRegis plc as it rose by 0.7% to a three-month high of €0.705 on 71,690 shares, representing nearly 35% of today’s value of shares traded. On Tuesday, MedservRegis announced that it secured a contract with a new client – Dubai Petroleum – for the provision of machine services on a call out basis. The contract came into effect on 1 December 2021 and is for a term of three years with an option for Dubai Petroleum to extend the term by a further two-years.

The other positive performing equity was Bank of Valletta plc as it moved 1.2% higher to the €0.875 level across 9,500 shares.

Within the same sector, HSBC Bank Malta plc traded flat at the €0.92 level on seven deals totalling 39,906 shares.

Also among the large companies by market value, GO plc (3,180 shares) and International Hotel Investments plc (500 shares) closed the day unchanged at €3.26 and €0.62 respectively.

In the property segment, Hili Properties plc stayed at the €0.27 level across 15,250 shares.

In contrast, a single deal of 10,000 shares pulled the share price of VBL plc 4.7% lower to the €0.286 level.

Malta Properties Company plc dropped by 5.5% to the €0.52 level albeit on trivial volumes.

Low trading activity also took place in the equity of Simonds Farsons Cisk plc which fell by 13.3% to the €8.15 level.

PG plc eased by 0.8% to the €2.38 level albeit on just 2,000 shares.

Lombard Bank Malta plc moved 2.6% lower to the €1.90 level across 5,500 shares.

FIMBank plc slid by 1.2% to the USD0.336 level on activity totalling 24,234 shares.

The preference shares of RS2 Software plc lost 1.7% back to the €1.70 level on a single deal of 5,000 shares.

The RF MGS Index extended its downward trend as it dropped by a further 0.08% to a fresh multi-year low of 1,068.493 points. Eurozone yields continued to trend higher as annual inflation rose to a record of 5% last month. Meanwhile in the US, the latest employment report fell short of expectations as the world’s largest economy added less than two hundred thousand jobs in December 2021.

 

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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