Daily Market Highlights (12.07.2021)

GO, Farsons and RS2 lift MSE Equity Price Index

 

The MSE Equity Price Index opened the week in positive territory as it advanced by 0.37% to 3,938.614 points. The gains in GO, Farsons and RS2 outweighed the declines in BMIT and MIA whilst Lombard and MPC closed unchanged. Meanwhile, overall trading activity amounted to €0.12 million. Download today’s Equity Market Summary.

GO plc inched 0.6% higher to the €3.38 level as 10,000 shares changed hands.

GO’s data centre subsidiary, BMIT Technologies plc, erased all of last Friday’s gains as it fell by 4% to the €0.48 level across a single trade of 70,000 shares.

Also in the technology sector, the ordinary shares of RS2 Software plc jumped by 4.1% to the €1.79 level across 8,000 shares.

Meanwhile, Simonds Farsons Cisk plc climbed by 2.9% as it regained the €8.75 level, albeit across insignificant volumes.

Malta Properties Company plc recovered from an intraday low of €0.52 (-3.7%) before closing unchanged at the €0.54 level on 10,162 shares. MPC’s Annual General Meeting is scheduled to be held remotely on Thursday 15 July 2021.

Lombard Bank Malta plc traded flat at the €1.87 level as 8,614 shares changed hands.

Elsewhere, Malta International Airport plc lost 0.8% to the €6.30 level across 2,025 shares.

The RF MGS Index dropped for the second session in succession as it eased by a further 0.05% to 1,098.578 points. Over the weekend, ECB President Christine Lagarde stated that the central bank will update its guidance on monetary stimulus at its next meeting on 22 July and indicated that fresh policy might be introduced in 2022 to support the European economy to replace the current “Pandemic Emergency Purchase Program”. Elsewhere, following a two-day meeting in Venice, finance ministers of the leading 20 economies, referred to as the ‘G-20’, backed a tax reform which is aimed to introduce a global corporate tax rate of 15%.

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