Daily Market Highlights (13.03.2020)

MSE Equity Price Index plunges 3.3%


The MSE Equity Price Index posted its seventh decline in the past eight sessions today as the index plunged by 3.3% to 4,221.366 points, its lowest level since August 2015. Ten equities traded negatively, and five equities ended the unchanged whilst no equities traded positively. Meanwhile, trading activity surged to €0.9 million from €0.4 million yesterday. Download today’s Equity Market Summary.

In the IT services sector, RS2 Software plc dropped by 6.4% to the €2.34 level across 25,650 shares whilst BMIT Technologies plc declined by 1.9% to the €0.53 level across 60,100 shares. Yesterday, BMIT revealed its financial results for 2019 showing a profit after tax of €4.45 million. The Board of Directors are recommending the payment of a net dividend of €0.0216 per share to all shareholders as at close of trading on 27 April 2020 and is payable on 4 June 2020.

Mapfre Middlesea plc slipped by 6.5% to return to the €2.32 level on low volumes. Yesterday, Mapfre published its annual results for 2019 which showed that the Group’s net profit amounted to €9.63 million which is 12.1% higher than the €8.59 million figure reported in the 2018 financial year. The Directors of the company also recommended an unchanged ordinary net dividend of €0.0978 per share and the payment of a special net dividend of €0.0434 per share to shareholders as at the close of trading on Monday 4 May 2020.

In the property segment, Main Street Complex plc plunged by 8.8% to an all-time low of €0.52 across 10,000 shares whilst Malta Properties Company plc lost a further 3.2% as it fell back to the €0.60 level across 14,639 shares.

Similarly, Trident Estates plc shed 4.3% to the €1.55 level across 17,200 shares.

Plaza Centres plc declined by 0.5% to the €0.98 level as 6,000 shares changed hands

Elsewhere, MaltaPost plc fell by nearly 7% to a 10-month low of €1.21 level albeit across trivial volumes.

Simonds Farsons Cisk plc closed at a 6-month low as it returned to the €10.00 level (-8.3%) also on low volumes.

A single trade of 17,500 shares saw the equity of FIMBank plc plummet 21.7% to the USD0.50 level.

In the retail banking sector, Bank of Valletta plc (€1.02) and HSBC Bank Malta plc (€1.00) ended the day unchanged.

Malta International Airport held onto the €5.05 level on continued strong volumes of 52,529 shares whilst GO plc remained flat at the €4.20 level across 2,500 shares. Yesterday, GO plc published its 2019 annual results with adjusted EBITDA declining by 4.2% to €66.6 million. The directors recommended an unchanged ordinary net dividend of €0.14 per share payable to all shareholders as at the close of trading on 28 April 2019.

Meanwhile, PG plc retained the €1.90 level across heightened activity of 202,300 shares.

The RF MGS Index suffered its sharpest daily decline in over three years as it shed 1.36% to reach a 7-week low of 1,141.590 points. The fall in the price of the index followed a strong rebound in equities on Friday which came after the significant declines in all of the major indices on Thursday due to mounting fears with respect to the outbreak of the coronavirus and its effect on economic activity. A similar move was seen in the 10-year German Bund as yields rose to a two-week high of -0.563%.