Daily Market Highlights (09.11.2021)

BOV, MIDI & MPC recover yesterday’s losses


The MSE Equity Price Index posted a sharp rebound as it advanced by 1.17% to 3,833.837 points as the gains in BOV, HSBC, MIDI, and MPC outweighed the declines in BMIT, GO and MIA. Meanwhile, Harvest remained unchanged at the €1.50 IPO price. Download today’s Equity Market Summary.

Bank of Valletta plc climbed 7.4% to regain the €0.87 level on four trades totalling 23,440 shares.

Similarly, MIDI plc recovered all of yesterday’s losses as it recaptured the €0.40 level (+27.4%) on three deals totalling 9,163 shares.

Malta Properties Company plc offset yesterday’s slump after it surged by 10.5% to reach the €0.58 level albeit on trivial volumes.

Today’s only other positively performing equity, HSBC Bank Malta plc closed 2.5% higher at the €0.82 level as 29,111 shares changed hands across four trades.

Harvest Technology plc remained at the €1.50 level on a single trade of 7,751 shares. Shareholders as at close of yesterday’s trading will receive a net interim dividend of €0.016 per share by not later than 26 November 2021.

Elsewhere, Malta International Airport plc eased by 0.8% to a seven-month low at the €5.90 level on activity totalling 3,884 shares.

Also among the large companies by market cap, GO plc dropped by 3.6% to the €3.26 level on two deals totalling 5,000 shares. GO’s data centre and IT managed services subsidiary, BMIT Technologies plc lost 4.1% to an eight-month low of €0.47 across four trades totalling 26,638 shares.

The RF MGS Index moved lower for the first time in six sessions as it fell by 0.15% to 1,089.856 points. German investor confidence improved in November amid expectations of economic growth and lower inflation by the first quarter of next year. Meanwhile in the US, producer prices increased in line with expectations in October primarily due to higher fuel costs. The annualised US producer price inflation remained at a record of 6.8%.

Today, the Central Bank of Malta published a quarterly review analysing the economic and financial developments in Malta during the second quarter of 2021. Real GDP increased by 13.4% over the same period of 2020 but remained 3.6% below the GDP of the second quarter of 2019. Meanwhile, employment figures reached pre-pandemic levels and unemployment fell to 3.5%. Inflation remained low at 0.2% in June largely due to changes in the weighting used within the eurozone to calculate the Harmonised Index of Consumer Prices when compared to the previous year.