Daily Market Highlights (10.01.2022)

MSE Equity Price Index sheds 1%

 

The MSE Equity Price Index opened the week in negative territory as it retracted by 1.05% to 3,818.284 points. The drop was mostly due to the sharp declines in the share prices of HSBC, BOV and IHI. On the other hand, PG and Hili Properties posted gains whilst RS2 ended the day unchanged. Trading activity across equities amounted to €0.13 million as the majority of today’s volumes took place in the equity of BOV. Download today’s Equity Market Summary.

Bank of Valletta plc eased by 1.7% back to the €0.86 level across 86,091 shares having a market value of €0.07 million.

Within the same sector, HSBC Bank Malta plc lost 4.9% to the €0.875 level on a total of 8,021 shares.

Also among the large companies by market value, International Hotel Investments plc dropped by 4% to the €0.595 level albeit on a single deal of 8,250 shares.

Santumas Shareholdings plc was the worst performing equity today as it plunged 15.3% to the €1.00 level across 20,320 shares.

LifeStar Insurance plc closed at its all-time low of €0.44 (-12%) on trivial volumes.

Low trading activity also took place in the equities of PG plc and Hili Properties plc which added 0.8% and 1.5% to €2.40 and €0.274 respectively.

Meanwhile, the ordinary and preference shares of RS2 Software plc traded flat to close today’s trading session at around the €1.70 level. A total of €0.02 million worth of shares changed hands.

The RF MGS Index continued to trend lower as it dropped by a further 0.14% to a fresh multi-year low of 1,067.032 points. Sovereign bond yields in the Euro area extended their upward movement amid inflation concerns which could propel the ECB to reduce its monetary policy accommodation in the months ahead. Elsewhere in the US, treasury yields also moved higher as investors turned their focus to inflation data which is due to be published on Wednesday.

 

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data.  Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.

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