Daily Market Highlights (07.10.2021)

MSE Equity Price Index snaps three-day positive streak


The MSE Equity Price Index moved lower for the first time in four sessions as it lost 0.23% to 3,895.552 points. The declines in GO, MIA, RS2 and Santumas outweighed the gains in Farsons and Trident. Meanwhile, MPC and PG remained unchanged as overall trading activity amounted to €0.08 million. Download today’s Equity Market Summary.

GO plc lost 1.8% to a 6-month low at the €3.26 level on three deals totalling 3,800 shares.

The ordinary shares of RS2 Software plc eased by 0.6% to the €1.73 level on a single trade of 12,000 shares.

Malta International Airport plc declined by 0.8% to the €6.05 level on a single deal of 2,900 shares. Yesterday, MIA announced that during the month of September 2021, it welcomed 418,473 passengers which is the strongest monthly figure since the outbreak of the COVID-19 pandemic in March 2020. Moreover, although the number of passenger movements in September 2021 is 45.1% lower than that of the corresponding month in 2019, on the other hand it is virtually at par to the volume of passengers recorded in January 2020 and February 2020 prior to the pandemic in Europe.

Elsewhere, Santumas Shareholdings plc slumped by 9.1% to the €1.00 level as 5,155 shared changed hands.

PG plc held on to its all-time high of €2.50 on a single trade of 1,995 shares. PG will be holding its annual general meeting on Thursday 21 October.

Similarly, a single trade of 18,607 shares left the share price of Malta Properties Company plc at the €0.57 level. Last week, MPC announced that it entered into an agreement for the sale of the Birkirkara Old Exchange for €8 million. The agreement is valid for a period of twelve months.

Also in the property sector, Trident Estates plc advanced by 1.3% to the €1.57 level albeit on just 2,000 shares.

Simonds Farsons Cisk plc added 1.2% to a 10-week high of €8.60 on 644 shares.

The RF MGS Index recovered some of yesterday’s losses as it rebounded by 0.30% to 1,083.238 points. Today, the ECB published the minutes of its most recent monetary policy meeting. These showed that policymakers discussed a larger reduction in asset purchases, but eventually agreed to only apply a mild slowdown in asset purchases so as to maintain favourable financing conditions. The ECB Governing Council also highlighted that its actions do not automatically imply tapering or ending its bond buying programme. Meanwhile in the US, lawmakers agreed to temporarily raise the country’s debt limit in order to avert a government shutdown.