HSBC & MIDI drive the MSE Equity Price Index lower
The MSE Equity Price Index erased last Thursday’s gains as it drifted 0.21% lower to 4,608.573 points as HSBC, MIDI, Plaza and Trident trended lower to offset the uplift in GO. Meanwhile, four other companies ended the day unchanged whilst trading activity rose to €0.34 million, with GO accounting for 62% of today’s trading activity. Download today’s Equity Market Summary.
The only positive performing equity today was GO plc as it moved 0.5% higher to regain the €4.16 level across two deals totalling 50,100 shares.
On the other hand, HSBC Bank Malta plc shed 0.8% to the €1.17 level across 9,330 shares.
Five deals totalling 52,001 shares forced the equity of MIDI plc to retreat by 3.3% to the €0.498 level.
Similarly, Plaza Centres plc fell by 1% back to the €1.00 level across 18,819 shares.
Trident Estates plc slumped 6% lower to close at a 1-month low of €1.55 across 7,745 shares.
Malta International Airport plc recovered from an intraday low of €6.85 (-0.7%) to end the day unchanged at the €6.90 level across 1,861 shares.
A single trade of 14,300 shares left the equity of BMIT Technologies plc unchanged at the €0.51 level.
Simonds Farsons Cisk plc remained at the €11.50 level across just 440 shares.
In the banking sector, Bank of Valletta plc ended the day flat at the €1.04 level across 34,029 shares.
The RF MGS Index halted a 4-day positive streak as it shed 0.13% to 1,148.315 points. Data published today showed that manufacturing activity across the European continent continued to contract by more than expected. Nonetheless, market sentiment has improved considerably following last Thursday’s UK general election whereby Boris Johnson’s Conservative Party won a parliamentary majority. To add to this, the US and China agreed to a preliminary trade deal on Friday which also saw both nations suspending planned tariffs that were scheduled to come into effect as from 15 December.