The MSE Equity Price Index falls below the 4,800 mark

 

Following the gains registered in the previous three trading sessions, the MSE Equity Price Index opened this week in negative territory as it shed 0.67% to a near seven-week low of 4,789.476 points. Several equities trended lower whilst only MIA and Loqus posted gains. Meanwhile, five companies ended the day unchanged whilst trading volumes improved considerably to €0.38 million compared to €0.15 million last Friday. Download today’s Equity Market Summary.

Trading in Bank of Valletta plc represented 36% of today’s total value of equities traded. The equity remained unchanged at the €1.17 level across 117,568 shares having a market value of €0.14 million.

Within the same sector, HSBC Bank Malta plc traded unchanged at its 2019 low of €1.58 on activity totalling 17,587 shares.

Also among the large companies, GO plc (222 shares) and RS2 Software plc (12,500 shares) maintained their recent highs of €4.58 and €1.64 respectively.

A single deal of 9,569 shares left the equity of Medserv plc at the €1.10 level.

Low trading activity also took place in the equities of PG plc and Malita Investments plc which dropped by 0.6% and 4% to €1.63 and €0.83 respectively.

Lombard Bank Malta plc was the worst performing equity today with a drop of 4.3% to a new 2019 low of €2.20 across 3,275 shares.

International Hotel Investments plc extended its recent decline by a further 2.4% to the €0.82 level on volumes totalling 13,099 shares. IHI is now almost 11% lower than its most recent high of €0.92 recorded on 18 June 2019.

Both FIMBank plc (27,949 shares) and Simonds Farsons Cisk plc (700 shares) declined by 3.8% to USD0.625 and €10.00 respectively.

Malta Properties Company plc extended last Friday’s decline of 3.7% by a further 1.5% today to move back to the €0.65 level across 52,750 shares.

BMIT Technologies plc continued to trade within a tight range as the equity eased by 0.9% to €0.535 on 26,300 shares.

Meanwhile, Malta International Airport plc added 2.1% to regain the €7.15 level across 11,870 shares. The airport operator is soon expected to publish its monthly traffic statistics for June and the total passenger movements for the first six months of the year.

On the ‘Alternative Companies List’, Loqus Holdings plc surged by almost 66% to €0.068 albeit on trivial volumes.

The RF MGS Index dropped by 0.17% to 1,148.460 points as international bond yields trended higher amid doubts on whether the US Federal Reserve will cut interest rates later this month following last Friday’s US jobs report which exceeded expectations. Meanwhile, uncertainties over a possible agreement on trade between the US and China re-emerged amid reports saying that China is demanding the removal of certain tariffs as a pre-condition for reaching a deal.