MSE Equity Price Index tumbles 1.2% on low volumes

 

The MSE Equity Price Index extended yesterday’s drop as it slid by 1.2% to 3,930.179 points albeit on subdued trading activity. The negative performances of GO, BOV and Mapfre Middlesea outweighed the gains in MIA, MPC and Harvest whilst Malita Investments plc ended the day unchanged at the €0.89 level across 7,000 shares. Download today’s Equity Market Summary.

GO plc eased by 1.1% to the €3.56 level across 6,690 shares. This morning, the company explained that in view of the extraordinary circumstances related to ‘COVID-19’, it has not as yet taken a final decision on the re-consideration of the recommended net dividend of €0.14 per share for the 2019 financial year. GO also noted that it is continuing to monitor the situation on an ongoing basis and will keep the market updated as necessary.

Also among the large companies, Bank of Valletta plc lost 3.8% back to the €1.00 level on a total of 20,670 shares.

BOV’s insurance associate – Mapfre Middlesea plc – slumped 12.3% to the €2.28 level albeit on just 2,171 shares.

Trivial volumes pushed the equity of Malta International Airport plc 1% higher to the €5.05 level.

Harvest Technologies plc regained its IPO price of €1.50 (+2.7%) across 3,425 shares.

Malta Properties Company plc was the best performing equity today as it rallied 7.4% to the €0.58 level across 2,000 shares.

The RF MGS Index drifted lower for the third consecutive day as it dropped by a further 0.12% to a fresh two-month low of 1,107.503 points despite a further decline in euro zone sovereign yields. In fact, the benchmark 10-year German Bund yield is now above the negative 0.5% mark for the first time in almost three weeks.