Daily Market Highlights (14.01.2022)

Trading in BOV and MedservRegis dominates activity  

 

The MSE Equity Price Index trended higher for the first time in six days as it rebounded by 0.63% to 3,805.606 points. The gain reflects the rally in the share price of FIMBank plc which surged by 29.1% to the USD0.328 level albeit on trivial volumes. On the other hand, Hili Properties closed the day notably lower whilst another four companies ended unchanged. Trading activity across equities improved substantially to €0.53 million on the back of heightened activity in BOV and MedservRegis. Download today’s Equity Market Summary.

Bank of Valletta plc stayed at the €0.85 level after recovering from an intra-day low of €0.80 (-5.9%). A total of 370,344 shares having a market value of €0.31 million changed hands.

Encouraging volumes were also transacted in the equity of MedservRegis plc as the share price also closed unchanged at the €0.705 level across 217,480 shares having a market value of €0.15 million.

HSBC Bank Malta plc (58,734 shares) and Harvest Technology plc (164 shares) traded flat at €0.92 and €1.52 respectively.

Meanwhile, Hili Properties plc lost 8.1% to the €0.25 level across 50,000 shares.

The RF MGS Index extended yesterday’s uplift as it surged by 0.37% to 1,072.314 points. Bond yields continued to drift lower amid doubts over the strength of the global economic recovery. Retail sales and industrial production data in the US disappointed expectations whilst in Europe, the pace of inflation in France and Spain (the second and fourth largest economies in the euro area respectively) alleviated concerns about the risks of spiralling price increases.

Today, Hili Finance Company plc announced that further to the application requesting the admissibility to listing of €50 million unsecured and guaranteed bonds maturing in 2027, the new bonds will bear interest at the rate of 4% per annum. Subject to regulatory approval, the cut-off date for preferred applicants (namely holders of securities of 1923 Investments plc, Harvest Technologies plc, Hili Properties plc, Premier Capital plc and Hili Finance Company plc) is expected to be the close of trading on 19 January 2022. Full details of the new bonds will be provided in a prospectus that will be made available following the necessary approval by the Malta Financial Services Authority.

 

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data.  Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.

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