Daily Market Highlights (09.06.2020)

MSE Equity Price Index retreats on low volumes


The MSE Equity Price Index eased by 0.13% from its twelve-week high of 4,058.520 points to 4,046.295 points as the declines in four equities (including RS2 and Farsons) outweighed the gains in three companies. Meanwhile, four other shares closed the day unchanged as trading activity remained muted with a total of €0.15 million worth of shares changing hands. Download today’s Equity Market Summary.

RS2 Software plc dropped by 1.7% to the €2.26 level across 17,300 shares.

Simonds Farsons Cisk plc retracted to the €8.05 level (-1.8%) on four deals totalling 3,305 shares.

In the property segment, MIDI plc lost 2.6% back to close at the €0.38 level across 40,000 shares.

A single deal of 18,000 shares forced the equity of Plaza Centres plc to move 3.1% lower to end the day at the €0.95 level.

On the other hand, Malita Investments plc traded flat at the €0.89 level across 7,500 shares.

GO plc (998 shares) and its data centre subsidiary – BMIT Technologies plc (8,000 shares) – also closed unchanged at €3.58 and €0.49 respectively.

Bank of Valletta plc remained at the €1.02 level across 17,585 shares.

Within the same sector, Lombard Bank Malta plc and HSBC Bank Malta plc added 0.9% and 2.1% to €2.20 and €0.98 respectively on trivial volumes.

Low trading activity also took place in the equity of Tigné Mall plc which climbed by 3.7% to regain the €0.85 level.

Today, Medserv plc announced that its two major shareholders – namely Mr Anthony S. Diacono and Malampaya Investments Ltd (which is owned by Mr Anthony J. Duncan) entered into an agreement pursuant to which each of the parties granted unto each other the option to acquire their respective shareholding in Medserv. This option can only be triggered on the demise of either Mr Diacono or Mr Duncan (whichever occurs first) and is exercisable for a period of one year thereafter. Medserv concluded by explaining that the rationale behind this agreement is to further strengthen the succession plan of the two major shareholders and to ensure a smooth transition should this unfortunate event take place at a time when they are still major shareholders in the company.

The RF MGS Index erased yesterday’s drop as it rebounded by 0.11% to 1,098.292 points. Prices of Malta Government Stocks improved amid disappointing German trade data which was however partly offset by a slightly smaller contraction in euro area GDP in Q1 2020.