Daily Market Highlights (08.03.2022)
MSE Equity Price Index extends yesterday’s losses
The MSE Equity Price Index extended yesterday’s decline as it dropped by a further 0.14% to 3,721.361 points. BOV and Hili Properties trended lower whilst MPC moved higher and BMIT closed unchanged. Overall trading activity in equities improved to €0.06 million compared to €0.02 million yesterday. Download today’s Equity Market Summary.
Bank of Valletta plc dropped by 1.3% to the €0.79 level across 22,588 shares.
The other negative performing equity today was Hili Properties plc as it eased by 0.8% to the €0.248 level after failing to hold on to an intraday high of €0.256 (+2.4%) on six deals totalling 61,500 shares.
Also in the property sector, Malta Properties Company plc added 1.9% to an over 1-month high of €0.53 on 9,990 shares.
BMIT Technologies plc stayed at the €0.49 level after recovering from an intraday low of €0.484 (-1.2%) across 52,000 shares. Today, BMIT announced that its Board of Directors is scheduled to meet on Tuesday 29 March to consider and approve the financial statements for the year ended 31 December 2021. The Board will also consider the recommendation of a dividend.
Today, GO plc announced that its Board of Directors is scheduled to meet on Wednesday 30 March to consider and approve the financial statements for the year ended 31 December 2021. The Board will also consider the recommendation of a dividend. The equity remained inactive today.
The RF MGS Index erased yesterday gains as it declined by 0.40% to 1,054.730 points. Investor sentiment continued to be overshadowed by the war in Ukraine as US President is expected to announce a ban on the importation of oil coming from Russia which, in turn, could have significant repercussions across the world economy. On the economic front, Eurozone GDP expanded in line with estimates as output grew by 4.6% in Q4 2021 when compared to the previous year.
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.