Daily Market Highlights (16.07.2021)

Light activity across several equities


The MSE Equity Price Index halted a three-day losing streak after it moved 0.01% higher to 3,869.366 points as the gains in BMIT, FIMBank and Trident slightly outweighed the heavy declines in Plaza and MIDI. Meanwhile, PG, MIA and Harvest all closed unchanged as overall trading activity marginally improved to €0.06 million. Download today’s Equity Market Summary.

In the technology sector, BMIT Technologies plc rose by 2.1% as it returned to the €0.49 level on volumes of 20,500 shares whilst Harvest Technology plc remained at the €1.50 level across a single trade of trivial volumes.

FIMBank plc surged by 11.8% to the USD0.358 level on two trades totalling just 1,310 shares. On Thursday 12 August 2021, FIMBank’s Board of Directors is scheduled to meet to consider and approve the interim financial statements for the six-month period ended 30 June 2021.

A single trade of 613 shares lifted Trident Estates plc 6.7% higher to a 3-month high at the €1.60 level.

Meanwhile, MIDI plc plunged by 15.5% to a 3-week low at the €0.36 level, albeit on miniscule volumes. Similarly, Plaza Centres plc plummeted by 37.6% to a multi-year low of €0.53 on a single trade of insignificant volumes.

Elsewhere, Malta International Airport plc recovered from an intraday low of €6.25 (-0.8%) to close unchanged at the €6.30 level on activity of 5,800 shares. On Wednesday, the airport operator announced that its Board of Directors is scheduled to meet on Wednesday 28 July 2021 to consider and approve the interim financial statements for the six-month period ended 30 June 2021.

PG plc traded flat at the €2.26 level as 4,150 shares changed hands. Shareholders of PG as at the close of trading on 9 July 2021 are entitled to a net interim dividend of €0.0296296 per share, payable on Monday 19 July 2021. Meanwhile, the company will be publishing its 2020/21 annual financial statements by the end of August.

The RF MGS Index advanced by 0.09% to a one-week high at 1,101.247 points as the Eurozone inflation rate was confirmed at 1.9% in June, in line with expectations and lower than the 2% figure in May. The reduction in the annual rate for June is a result of a low base effect when comparing the same period last year as inflation still increased by 0.3% month-on-month. The latest European Commission’s economic forecasts indicated that inflation is to remain at 1.9% for this year before easing to 1.4% in 2022.