Daily Market Highlights (12.02.2020)

Trading activity surges to 3-week high


The MSE Equity Price Index extended yesterday’s decline by a further 0.15% to a two-week low of 4,639.046 points. The drop came on the back of the declines in the share prices of RS2, MIA and GlobalCapital which outweighed the gains in three other companies including HSBC which also featured amongst the most actively traded equities today. In aggregate, trading volumes increased markedly to a three-week high of €0.82 million. Download a copy of today’s Equity Market Summary.

RS2 Software plc slipped by 1.7% from its all-time high of €2.42 back to the €2.38 level across 71,000 shares. Last week, RS2 announced that it concluded a partnership agreement with MoviiRed in Colombia to offer consumers and merchants direct issuing and acquiring services. In this respect, RS2 explained that this development represents the launch of its new direct acquiring business for the first time anywhere in the world.

Also among the large companies by market capitalisation, Malta International Airport plc retracted by 0.7% to the €6.90 level on activity totalling 18,400 shares. Last Friday, the airport operator published the January 2020 traffic results showing an increase of 14.2% in passenger movements. MIA also added that despite the significant increase of 11.3% in seat capacity, the seat load factor improved by 1.8 percentage points to 71%. The company is due to publish its 2019 full-year financial results on 26 February. The Directors will also consider the payment of a final dividend.

The other negative performing equity today was GlobalCapital plc with a drop of 3.3% to the €0.29 level on heightened activity totalling 920,700 shares having a market value of €0.28 million.

HSBC Bank Malta plc climbed by a further 1% to the €1.06 level across 119,000 shares. The bank is due to publish its 2019 full-year financial results on 18 February. The Directors will also consider recommending a final dividend for approval at the AGM scheduled to be held on 8 April.

Malta Properties Company plc recaptured the €0.67 level albeit on just 1,060 shares. MPC is due to publish its 2019 financial statements on Wednesday 19 February. The Board of Directors will also be considering the recommendation of a dividend.

Low trading activity also took place in the equities of Loqus Holdings plc, BMIT Technologies plc, FIMBank plc and Grand Harbour Marina plc. Loqus added 2.7% to the €0.077 level whilst all three other shares closed the day unchanged at €0.51, USD0.58 and €0.55 respectively.

Bank of Valletta plc traded flat at the €1.05 level across 14,171 shares.

Three deals totalling 21,060 shares left the equity of GO plc at the €4.12 level.

PG plc maintained the €2.00 level after opening at a low of €1.98 (-1%). A total of 4,991 shares changed hands.

The RF MGS Index erased most of the gains registered in the previous two days as it dropped by 0.22% to 1,148.840 points. Price of Malta Government Stocks moved sharply lower as movements in international bond yields remained volatile amid various uncertainties related to the coronavirus pandemic. On the economic front, industrial production across the euro area slipped by much more than expected in December 2019 as it contracted by 4.1% when compared to the corresponding period in 2018. However, various commentators attributed the sharp decline to temporary factors.