Daily Market Highlights (11.11.2021)

Local equity market posts 3-day positive streak


The MSE Equity Price Index moved higher for the third consecutive session as it advanced by a further 0.3% to 3,884.380 points. The gains in MIA, RS2, VBL and Lombard outweighed the declines in GO and MPC. Meanwhile, BOV and MaltaPost remained unchanged as overall trading activity reached a four-week high of €0.19 million. Download today’s Equity Market Summary.

Malta International Airport plc moved 1.7% higher to a two-week high of €6.10 on four trades totalling 1,849 shares.

The ordinary shares of RS2 Software plc gained 1.2% to the €1.72 level on two trades totalling 10,800 shares.

VBL plc increased by 3.4% to regain its highest price since last month’s listing at the €0.30 level albeit on just 1,000 shares. Today, VBL announced that the preliminary agreement for the acquisition of the ‘Coliseum Building’ located in Valletta has now been extended until 10 November 2022. Despite the delay, VBL explained that it will still be able to apply for any necessary permits with the Planning Authority for redeveloping the property. VBL also noted that the changes are not expected to give rise to any material departures from its mid-term plans and projections as previously provided in the IPO Prospectus.

Today’s most actively traded equity, Lombard Bank Malta plc, added 1.1% to the €1.85 level on two deals totalling 48,133 shares, representing 46% of today’s total value of equities traded.

Lombard’s postal services subsidiary – MaltaPost plc – remained at the €1.26 level on 20,000 shares.

Similarly, Bank of Valletta plc traded flat at the €0.87 level on six deals totalling 27,714 shares.

GO plc eased by 0.6% to the €3.34 level across four trades totalling 3,900 shares.

Elsewhere, Malta Properties Company plc closed 1.7% lower at the €0.57 level after partially recovering from an intraday low of €0.56 (-3.4%). A total of 20,000 shares changed hands.

The RF MGS Index posted the sharpest daily decline in 2021 as it plunged by 0.53% to 1,086.282 points. Sovereign bond yields in the euro area trended notably higher amid further signs of rising inflation across the world. Meanwhile, the ECB today published its latest Economic Bulletin whereby the central bank reiterated its view that the current strong dynamics in inflation are temporary although the risks arising out of supply chain disruptions are increasing.