Daily Market Highlights (15.09.2021)

MPC surges to 13-month high


The MSE Equity Price Index dropped by 0.29% to 3,911.847 points as the declines in BOV and Lombard outweighed the gains in GO and MPC. Overall trading activity remained subdued as only €0.13 million worth of shares changed hands. Download today’s Equity Market Summary.

Malta Properties Company plc added 3.6% to a 13-month high of €0.57 on four trades totalling 100,000 shares. On Monday, MPC announced that it entered into a promise of sale agreement for the acquisition of the ‘Mediterranean Building’ office complex located in Ta’ Xbiex for a total consideration of €8.75 million. The property is subject to ongoing lease agreements. The promise of sale agreement will remain valid and effective for a period up to and including the 28 December 2021.

A single deal of 11,700 shares lifted the share price of GO plc by 1.2% to the €3.36 level.

Meanwhile, Bank of Valletta plc moved 2.2% lower the €0.88 level on four trades totalling 41,443 shares.

Also in the retail banking sector, Lombard Bank Malta plc lost 6.7% to the €1.81 level on negligible volumes.

The RF MGS Index advanced by 0.07% to 1,093.516 points. Today, European Commission President Ursula von der Leyen proposed a new infrastructure programme while delivering the annual State of the European Union address. The EU scheme titled “Global Gateway” aims to increase the bloc’s competitiveness by building partnerships with countries from around the world while reducing the dependency on the Chinese economy. Elsewhere, data for August showed that industrial output growth in both the US and China was lower than the previous month.

Yesterday, the Treasury announced the issue of €140 million in new Malta Government Stocks subject to an over-allotment option of an additional sum up to a maximum of €80 million. Applications in the form of sealed bids (auction) for amounts of a minimum of €500,000 nominal and in multiples of €100,000 thereafter will open on Wednesday 22 September and close on the same day.