Daily Market Highlights (18.05.2020)

MSE Equity Price Index halts 5-day negative streak


The MSE Equity Price Index trended higher for the first time in six days as it rebounded by 0.4% to 3,978.286 points albeit on subdued trading activity. MIA, RS2 and PG posted gains whilst IHI and Farsons closed the day unchanged. Download today’s Equity Market Summary.

Malta International Airport plc regained the €5.00 level (+2%) after rebounding from an intra-day low of €4.88 (-0.4%). A total of 10,594 shares changed hands.

Also among the large companies, RS2 Software plc added 1.5% to the €2.00 level across 1,292 shares.

A single deal of 1,800 shares lifted the equity of PG plc 1.1% higher back to the €1.87 level.

Meanwhile, International Hotel Investments plc retained the €0.57 level on two deals totalling 11,370 shares. Last week, IHI reiterated that its plans for ‘Hal-Ferh’ is to pursue an upmarket low-rise mixed development focused principally on a luxury hotel and spa complemented by serviced villas and bungalows. This will also be pursued in line with the Group’s long-term strategy of positioning the Corinthia brand as an international luxury brand targeting the more discreet and upmarket clientele.

Simonds Farsons Cisk plc traded flat at the €8.25 level on trivial volumes. The company is due to publish its 2019/20 financial results on 27 May.

The RF MGS Index opened the week in negative territory as it retracted by 0.16% to a two-month low of 1,108.809 points. Prices of Malta Government Stocks continued to lose ground amid encouraging signs of progress in the search for a vaccine against the ‘COVID-19’. Furthermore, international financial markets also welcomed the comments made by the US Fed Chairman who said that the central bank is “not out of ammunition by a long shot” in its ability to support economic recovery which he warned could stretch into 2021.