Daily Market Highlights (09.07.2021)

Marginal movements across local equity market

 

The MSE Equity Price Index inched 0.11% higher to 3,923.930 points as the gains in BMIT and RS2 outweighed the decline in Trident. Meanwhile, MIA traded unchanged as overall trading activity remained dominated by the elevated activity in RS2 which accounted for 97.5% of the trading activity today. Download today’s Equity Market Summary.

Trident Estates plc lost 2.6% as it returned to the €1.50 level across trivial volumes.

Malta International Airport plc closed flat at the €6.40 level across a single trade of 290 shares.

In the technology sector, the ordinary shares of RS2 Software plc edged 0.6% higher to the €1.72 level as 83,900 shares changed hands whilst BMIT Technologies plc advanced by 4.2% as it recaptured the €0.50 level across two deals totalling 1,800 shares.

As of close of trading today, shareholders of PG plc are entitled to receive a net interim dividend of €0.0296296 per share which is payable on Monday 19 July 2021. This dividend is 14.3% higher than the corresponding interim dividend paid out in July 2020 for the 2019/20 financial year. The equity remained inactive today. The 2020/21 annual financial statements are expected to be published by the end of August.

The RF MGS Index experienced its sharpest daily decline in over a month as it retreated by 0.22% to 1,099.093 points. Italy’s industrial production fell unexpectedly by 1.5% in May against market expectations of a 0.3% month-on-month growth, amid lower outputs in energy, consumer goods, investment goods, and intermediate goods. This afternoon, the European Central Bank published the minutes from its June 10 monetary policy meeting. During the meeting, policymakers debated a cut in stimulus as the economic recovery in Europe continued to gather pace. Ultimately however, financing conditions were assessed as “too fragile” to allow for a meaningful reduction in the pace of purchases without risking a disorderly rise in yields and a “broad agreement” was eventually reached to maintain an elevated level of support. Meanwhile, leaders from the world’s strongest economies, referred to as “G-20”, kicked-off a two-day meeting to push for a minimum global corporate tax of at least 15%.

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