Daily Market Highlights (14.02.2020)

GO plc share price regains the €4.20 level 


The MSE Equity Price Index added to yesterday’s gain as it advanced by a further 0.33% to 4,664.255 points. The positive performance was mainly driven by the increases in the share prices of RS2, GO and BOV which outweighed the drops in five other companies. Trading activity remained strong as €0.48 million worth of shares changed hands. Download today’s Equity Market Summary.

GO plc added 1.4% to regain the €4.20 level on high volumes totalling 58,918 shares having a market value of €0.25 million.

RS2 Software plc climbed 2.5% to a new all-time high of €2.44 albeit on just 2,000 shares. The company’s market value has almost doubled since the end of 2018.

Bank of Valletta plc advanced by 1% to the €1.06 level also on low volumes of 1,895 shares.

Four deals totalling 95,700 shares lifted the equity of MIDI plc 1.3% higher to the €0.476 level.

Among the smallest companies, Loqus Holdings plc moved 1.3% higher to the €0.078 level albeit on trivial volumes. On the other hand, Main Street Complex plc lost 1.7% to the €0.57 level across 30,300 shares.

HSBC Bank Malta plc moved back to the €1.05 level (-0.9%) across 55,000 shares. HSBC will kick-start the full-year reporting season next week. On Tuesday, the bank will publish its 2019 financial results. The Directors will also consider recommending a final dividend for approval at the AGM scheduled to be held on 8 April.

The other negative performing equities today were PG plc and Trident Estates plc with drops of 1.5% and 2.9% to €1.97 and €1.65 respectively albeit on insignificant volumes.

Meanwhile, BMIT Technologies plc traded flat at the €0.52 level on encouraging volumes totalling 193,419 shares.

Following yesterday’s rebound which was the sharpest daily uplift in two weeks, the RF MGS Index eased by 0.08% to 1,151.138 points. Movements across international bond markets continued to be largely dictated by the uncertainties related to the coronavirus pandemic whilst in Europe, new GDP data took centre-stage. The latter showed that the German economy remained unchanged in Q4 2019 when compared to the previous three months. Across the euro area, GDP dropped by more than expected in Q4 2019 to just 0.9% when compared to the same period in 2018.

Today, AX Group plc published its financial statements for the year ended 31 October 2019. The Group generated revenues of almost €52 million, representing a decline of just over 4% when compared to the 2017/18 financial year and excluding the impact of any property sales. The contraction in the revenue figure was largely due to the postponement of a major third-party project as well as a slight reduction in the hotel business. On the other hand, revenues from the healthcare division surged by 19.3% to €5.68 million, representing 11% of total revenues. The Group recorded a net profit of €4.88 million and ended the 2018/19 financial year with net assets amounting to €227 million.