Daily Market Highlights (14.10.2021)

Five equities drag the MSE Equity Price Index lower


The MSE Equity Price Index lost 0.25% to 3,943.303 points as the declines in BOV, GO, MPC, PG and Trident outweighed the gains in HSBC and MIA. Trading activity across the equity market amounted to €0.08 million. Download today’s Equity Market Summary.

Bank of Valletta plc snapped a four-day winning streak as it lost 2.2% to the €0.88 level on six trades totalling 26,465 shares.

A single trade of 250 shares sent PG plc 2.4% lower to the €2.44 level.

Malta Properties Company plc declined by 1.8% on one deal of 10,000 shares.

Also in the property sector, Trident Estates plc moved 0.6% lower to the €1.55 level on three trades of 6,363 shares.

GO plc eased by 0.6% to the €3.28 level on five deals of 7,800 shares.

Also among equities with a large market cap, Malta International Airport plc ended in positive territory with a 0.8% gain to the €6.10 level as 2,300 shares changed hands.

HSBC Bank Malta plc climbed 2.5% higher to the €0.82 level on a single deal of 3,050 shares.

Following the presentation published by Hili Properties plc last Friday in relation to the proposed issuance of 185,185,185 new shares at €0.27 each with a total value of €50 million, the company today announced that it has authorised the submission of an Application for Authorisation for Admissibility to Listing to the MFSA requesting the approval of a prospectus in relation to proposed public issue of the shares. The company is expecting the approval of its prospectus in relation to this Initial Public Offering by 25 October.

The RF MGS Index advanced by 0.15% to 1,081.573 points as the gains in prices for longer-dated MGS outweighed the marginal losses in short-term MGS. Yesterday, the US Federal Reserve published the minutes of last month’s monetary policy meeting which revealed that market participants already showed expectations of reduction in the net pace of purchases in November, with a gradual tapering to be completed by July 2022. A final decision on purchase reductions is expected at the next committee meeting on 3 November. Meanwhile, initial jobless claims fell below pre-pandemic levels for the first-time last week amid a rebound in demand for workers.

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