Daily Market Highlights (12.11.2021)

MSE Equity Price Index moves lower on low volumes


The MSE Equity Price Index trended lower for the first time in four days as it dropped by 0.98% to 3,846.376 points. MIA, HSBC, MIDI, Medserv and Plaza end the day lower while BOV, Harvest and PG remained unchanged. Trading activity stayed subdued as just over €0.03 million worth of shares changed hands. Download today’s Equity Market Summary.

Malta International Airport plc retreated by 3.3% back to the €5.90 level on a single deal of 2,700 shares.

Also among the large companies by market value, HSBC Bank Malta plc eased by 1.2% to the €0.81 level on three trades totalling 4,790 shares. Today, HSBC Malta issued an Interim Directors’ Statement updating the market on its performance during the nine-month period ended 30 September 2021. During this period, the Bank posted a profit before tax of €25.2 million which is significantly higher than the €12.2 million generated during the comparable period in 2020. The improved financial performance was mainly driven by higher insurance income which was partially offset by a decrease in interest income. On the expenditure side, adjusted costs were €0.9 million higher than those reported in the same period in 2020 reflecting higher regulatory requirements. The Bank noted that from a liquidity and capital position perspective, its buffers and capital ratios remained strong and in excess of regulatory requirements.

Today’s worst performing equity, MedservRegis plc, slumped by 5.8% to the €0.65 level after partially recovering from an intraday low of €0.50 (-27.5%). A total of 20,220 shares traded.

Plaza Centres plc declined by 2% to the €0.975 level on a single deal of 1,271 shares.

Also in the property sector, MIDI plc ended 0.5% lower at the €0.398 level on 2,000 shares.

Elsewhere, Harvest Technology plc closed unchanged at the €1.50 level after failing to hold to an intraday high of €1.51 (+0.7%) across two trades totalling 1,508 shares.

Bank of Valletta plc stayed at the €0.87 level on a single trade of 250 shares.

Similarly, PG plc remained at the €2.48 level on negligible volumes.

The RF MGS Index remained virtually unchanged at 1,086.509 points. Spain’s annual inflation rate in October reached the highest level since 1992 at 5.4%. However, this figure was slightly lower than preliminary expectations of an increase of 5.5%. Meanwhile, industrial output within the euro area contracted for the second consecutive month in September as supply constraints and high commodity prices weighed on the sector.

Today, the Treasury announced that it received a total of 72 bids from institutional investors for the three new Malta Government Stocks for a total value of €317 million (nominal). The Treasury exercised part of its over-allotment option and allotted €275 million (nominal) in the three fixed rate stocks. The statistics published by the Treasury indicate that €49.5 million (nominal) were allotted in the 0.10% MGS 2026 (IV) F.I. at a weighted average price of 100.32% (YTM: 0.0307%); €169.9 million (nominal) in the 0.90% MGS 2031 (V) at a weighted average price of 102.30% (YTM: 0.6535%) and €55.6 million (nominal) in the 2.00% MGS 2051 (II) F.I. at a weighted average price of 104.70% (YTM: 1.7949%).