Daily Market Highlights (17.02.2020)

MSE Equity Price Index trends higher ahead of reporting season


The MSE Equity Price Index moved higher for the third consecutive day as it added a further 0.22% to 4,674.484 points. Activity was spread across various equities, four of which trended in positive territory, another four declined whilst six companies ended the day unchanged. Download today’s Equity Market Summary.

RS2 Software plc climbed 2.5% to a new all-time high of €2.50 across 14,496 shares.

Also among the large companies, Malta International Airport plc recaptured the €7.00 level (+0.7%) on four deals totalling 5,380 shares. The company is due to publish its 2019 full-year financial results on 26 February. The Directors will also consider the payment of a final dividend.

PG plc also performed positively today with a gain of 1.5% to regain the €2.00 level across 9,860 shares.

In the property segment, Malta Properties Company plc added 2.2% to the €0.685 level on activity totalling 9,765 shares. MPC is due to publish its 2019 financial statements on Wednesday 19 February. The Board of Directors will also be considering the recommendation of a dividend.

In contrast, MIDI plc (€0.476), Tigné Mall plc (€0.90) and Trident Estates plc (€1.65) all traded flat on light volumes.

HSBC Bank Malta plc retained the €1.05 level on encouraging volumes totalling 143,286 shares. Tomorrow, the bank will publish its 2019 financial results. The Directors will also consider recommending a final dividend for approval at the AGM scheduled to be held on 8 April.

Three deals totalling 27,850 shares left the equity of BMIT Technologies plc at the €0.52 level.

Mapfre Middlesea plc also closed flat at the €2.36 level across 10,350 shares.

Meanwhile, Bank of Valletta plc (30,880 shares) and Lombard Bank Malta plc (900 shares) eased by 0.9% to €1.05 and €2.26 respectively.

MaltaPost plc fell by 3% back to the €1.30 level across 8,000 shares.

Grad Harbour Marina plc plunged 16.7% to a new all-time low of €0.454 albeit on just 5,000 shares.

The RF MGS Index opened the week in negative territory as it eased by 0.11% to 1,149.840 points. The drop in the index was mostly due to the declines in the prices of the longest-dated Malta Government Stocks which, in turn, were mostly influenced by the changes in Italian government bond yields.