Trading activity slumps
The MSE Equity Price Index rebounded by 0.79% today to 3,798.037 points on the back of increases in the share prices of BOV and Malita Investments. The five other active equities all ended the day unchanged. Trading activity remained shallow with just over €53,000 worth of shares changing hands today, representing the second lowest daily value of trades in 2020. Coupled with last Monday’s €37,539.50 (which ranks as the lowest daily volume this year), this four-day week ranks as the weakest in 2020 in terms of trading activity which totalled just below €0.46 million. Trading on the Malta Stock Exchange resumes on Tuesday 14 April due to the Easter recess. Download today’s Equity Market Summary.
The share price of Bank of Valletta plc rebounded by 6% to the €0.90 level albeit on low volumes of just 6,754 shares.
Similarly, Malita Investments plc trended 3.9% higher to regain the €0.80 for the first time in two weeks across 2,625 shares.
Meanwhile, Malta International Airport plc failed to hold on to an intra-day high of €4.90 as it ended unchanged at the €4.80 level on just 2,939 shares. Yesterday evening, MIA published its March traffic results revealing a 64.5% drop in passenger movements as the travel bans imposed by the local authorities led to a 48.1% decrease in seat capacity and a seat load factor of 55.6% compared to the 81.3% recorded in March 2019.
RS2 Software plc rebounded from an intra-day low of €1.82 to end the day unchanged at the €1.92 level across weak volumes of 5,100 shares.
Similarly, no changes were recorded in the share price of BMIT Technologies plc as 14,000 shares were traded at the €0.49 level and PG plc as the equity retained the €1.69 level on activity of 4,127 shares.
Likewise, Malta Properties Company plc shares traded unchanged at the €0.49 level on a single trade of 15,540 shares.
The RF MGS Index moved lower for the fourth consecutive day as it retreated by a further 0.09% to 1,121.596 points as eurozone yields continued to edge higher this morning after Eurozone finance ministers failed to reach an agreement on the creation of a common stimulus package to counteract the adverse economic effects of the coronavirus outbreak.