Daily Market Highlights (11.05.2021)

Harvest share price climbs to 6-week high

 

The MSE Equity Price Index eased by 0.54% to 4,008.561 points as the declines in BOV, HSBC and RS2 outweighed the gains in GO and Harvest. Meanwhile, overall trading activity remained lacklustre at just €0.05 million. Download today’s Equity Market Summary.

In the banking sector, Bank of Valletta plc erased all of yesterday’s gains as it fell by 2.2% to the €0.90 level across 2,070 shares. Meanwhile, HSBC Bank Malta plc slipped by 1.2% to return to the €0.81 level as 14,125 shares changed hands.

Elsewhere, RS2 Software plc dropped by 4.3% to the €1.80 level across 7,900 shares whilst the new RS2 preference shares advanced by 0.6% to the €1.76 level as 8,300 shares changed hands.

Also in the technology sector, Harvest Technology plc rose by 2.7% as it closed at a 6-week high at the €1.54 level with 4,300 shares changing hands.

GO plc rebounded by 2.3% as it recaptured the €3.54 level across a single trade of 907 shares.

The RF MGS Index extended its downward trend by a further 0.09% to a new 8-month low of 1,103.892 points as inflation concerns continue to dominate investor sentiment. Yesterday, an executive board member of the European Central Bank claimed in an interview that the economy is expected to grow quickly but urged to take this forecast in the context of the current economy, which is about 4% to 5% below 2019 levels. Meanwhile, the World Health Organisation announced that the COVID-19 variant identified in India is of global concern.

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