Daily Market Highlights (16.03.2021)

MSE Equity Price Index edges higher

 

The MSE Equity Price Index rose for the first time in four sessions as it added 0.17% to 3,828.786 points on the back off the gains registered in RS2, MPC and Malita. Meanwhile trading activity eased to €0.14 million from €0.41 million yesterday. Download today’s Equity Market Summary.

RS2 Software plc regained the €1.79 level (+0.6%) across 24,634 shares. Subscription agreements with respect to the Intermediaries Offer related to RS2’s preference share issue close tomorrow. Meanwhile, the offer period for preferred applications and the general public closes on 30 March 2021.

Malta Properties Company plc rebounded by 8% to the €0.54 level on low volumes of 500 shares. MPC’s Board of Directors is recommending the payment of a net dividend of €0.012 per share. Shareholders as at close of trading on 14 June 2021 will be entitled to receive this dividend on 21 July 2021 subject to shareholders’ approval during the upcoming Annual General Meeting scheduled to be held remotely on 15 July 2021.

Malita Investments plc gained 1.7% to the €0.89 level across a single trade of 20,000 shares. Malita’s Board of Directors is recommending the payment of a final net dividend of €0.0142 per share to all shareholders as at the close of trading on Wednesday 7 April 2021. The final dividend will be paid on Tuesday 18 May 2021 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on Tuesday 11 May 2021.

Bank of Valletta plc closed flat at the €0.90 level across 6,871 shares. Today, BOV announced that its Board of Directors is scheduled to meet on Tuesday 30 March 2021 to consider and approve the financial statements for the year ended 31 December 2020.

Also among the large equities by market cap, Malta International Airport plc traded unchanged at the €5.75 level across 9,812 shares.

Meanwhile, BMIT Technologies plc retained the €0.53 level across a single deal of 20,200 shares. BMIT is recommending a final net dividend of €0.02922 per share (+35% over last year). The final net dividend will be paid on 28 May 2021 to all shareholders as at close of trading on Thursday 22 April 2021.

The RF MGS Index resumed its upward trend as it edged 0.07% higher to 1,119.247 points. Today, the European Union’s drug regulator reiterated that the benefits of AstraZeneca plc’s COVID-19 vaccine outweigh the risks as it urgently reviews safety data following the suspension of shots within an increasing number of countries. Such developments have led European Medicines Agency (“EMA”) executive Emer Cooke to voice her concern that such government decisions could undermine public support for vaccines. During a press conference today, Ms Cooke assured that the EMA’s job was to make sure that the products it authorises are safe and can be trusted by European citizens. EU health ministers are holding a video call today, where they are expected to discuss concerns over side effects. The EMA will comment again on Thursday after it has evaluated the latest information.

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