Daily Market Highlights (17.04.2020)

MSE Equity Price Index at 1-month high

 

The MSE Equity Price Index edged a further 0.76% higher to a fresh 1-month high of 3,942.154 points on the back of increases in the share prices of various companies including BOV, HSBC, MIA, MIDI, PG and Malta Properties. On the other hand, RS2 Software and Farsons drifted lower whilst a further two equities ended the day unchanged. Overall, the MSE Equity Price Index ended the week 3.8% higher amid improved trading volumes. Download today’s Equity Market Summary.

Bank of Valletta plc edged 1% higher to regain the €1.02 level across seven deals totalling 16,798 shares.

Similarly, HSBC Bank Malta plc moved 3.2% higher to €0.97 for the first time in 2 weeks albeit on a single trade of 10,300 shares.

Amongst the large companies by market capitalisation, Malta International Airport plc edged 0.8% higher to regain the €5.00 level on shallow volumes of 5,829 shares. MIA’s Board of Directors is scheduled to meet on 22 April to re-consider the proposed final net dividend of €0.10 per share for the 2019 financial year.

In the property segment, Malta Properties Company plc jumped 5% to €0.525 on volumes of 29,450 shares and MIDI plc moved 5.9% higher to regain the €0.36 level on weak volumes of 11,372 shares. Yesterday, the planning authority approved a new 17-storey residential tower at Tigné Point.

PG plc continued to recover and advanced by a further 5.9% to recapture the €1.80 level on volumes of 25,483 shares.

On the other hand, RS2 Software plc eased 1.6% lower back to the €1.90 level across five deals totalling 64,900 shares.

Likewise, the equity of Simonds Farsons Cisk plc trended in negative territory with a 0.6% drop to a new 13-month low of €8.50 on just 1,955 shares.

Meanwhile, BMIT Technologies plc held on to the previous closing price as a further 85,996 shares changed hands at the €0.49 level.

Also, International Hotel Investments plc closed unchanged at the €0.595 level after the equity rebounded from an intra-day low of €0.54 across a total of 32,940 shares.

Yesterday evening, Medserv plc announced that due to the current ‘COVID-19’ pandemic, the conditional framework agreement between its two major shareholders and AMT S.A. stipulating the intended share for share exchange and launch of a voluntary offer has been aborted. Medserv added that the decision not to proceed was reached by both parties on an amicable basis and a termination agreement to this effect has also been concluded. The equity remained inactive today.

The RF MGS Index eased edged 0.2% higher to 1,123.922 points as eurozone bond yields trended lower today amid lower inflation across the region. As expected, the annual inflation rate dropped to 0.7% in March compared to 1.2% the previous month reflecting the adverse effect of the coronavirus outbreak.

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