Daily Market Highlights (10.06.2021)

Heightened activity in BOV Shares


The MSE Equity Price Index surged by 1.13% to 3,997.274 points as the gains in PG, RS2, MIA, BOV and HSBC outweighed the declines in GO, Harvest and MPC. Meanwhile, Trident and MIDI closed unchanged as overall trading activity amounted to €0.13 million. Download today’s Equity Market Summary.

Bank of Valletta plc advanced by 2.2% to the €0.92 level across 94,168 shares, reflecting 64.5% of today’s overall value traded.

In the same sector, HSBC Bank Malta plc gained 1.3% to the €0.81 level as 4,938 shares changed hands.

PG plc surged by 10.5% to a six-week high at the €2.32 level, albeit across light volumes.

Similarly, the ordinary shares in RS2 Software plc climbed by 1% to the €1.97 level across a single trade of trivial volumes whilst Malta International Airport rose by 1.6% to return to the €6.40 level across insignificant volumes. Today, Emirates airline announced that flights between Malta and Dubai (via Larnaca, Cyprus) are to restart on 14 July. The airline explained that it will be operating this route three times per week.

Elsewhere, Malta Properties Company plc eased off from its three-month high as it shed 1.8% to the €0.55 level. Shareholders as at close of trading tomorrow will be entitled to receive the payment of a net dividend of €0.012 per share.

GO plc fell by 1.2% to the €3.36 level across a single trade of 367 shares.

Meanwhile, Harvest Technology plc lost 1.9% to the €1.53 level across 17,188 shares.

A single trade of 3,000 shares kept MIDI plc unchanged at a six-week high of €0.42.

Trident Estates plc traded flat at the €1.50 level as 5,578 shares changed hands.

The RF MGS Index advanced for the third consecutive session as it gained a further 0.07% to 1,106.165 points. Earlier today, the European Central Bank (‘ECB’) Governing Council maintained its ultra-accommodative monetary policy as it kept key interest rates unchanged and pledged that faster bond purchases will sustain the Euro-area’s economic rebound from the pandemic. The Governing Council reiterated that interest rates are expected to remain at their present or lower levels until it has seen inflation levels sufficiently close to, but below 2% within its projection horizon. Moreover, the ECB will conduct net asset purchases under the €1.85 trillion Pandemic Emergency Purchase Programme (‘PEPP) at a significantly higher pace than during the first months of the year. In fact, the ECB bought around €80 billion worth of debt per month under the PEPP this quarter, up from around €62 billion in Q1.