Daily Market Highlights (19.11.2021)

MIA retreats on heightened activity


The MSE Equity Price Index ended the day higher at 3,829.350 points (+0.16%) as the gains in BOV, Lombard and RS2 preference shares outweighed the decline in MIA. Meanwhile, Harvest remained unchanged as overall trading activity reached a one-week high of €0.19 million. Download today’s Equity Market Summary.

Malta International Airport plc eased by 0.8% to the €5.90 level on heightened activity totalling 28,810 shares having a market value of €0.17 million and representing over 90% of today’s total value of equities traded. Yesterday, the European Centre for Disease Prevention and Control placed Malta in the ‘orange list’ following the recent increase in the number of new COVID-19 cases.

Also among the large companies by market value, Bank of Valletta plc added 1.2% to the €0.87 level on a single deal of 2,000 shares.

Within the same sector, Lombard Bank Malta plc surged by 5.4% to the €1.95 level albeit on trivial volumes.

The preference shares of RS2 Software plc advanced by 1.8% to recapture the €1.70 level on 5,800 shares.

In the technology sector, Harvest Technology plc remained at the €1.47 level across 3,000 shares.

The RF MGS Index extended yesterday’s gains with a further uplift of 0.14% to 1,087.277 points as sovereign bond yields in the euro area moved lower following comments by ECB President Christine Lagarde that the central bank will maintain its ultra-loose monetary policy in the foreseeable future. In fact, the benchmark 10-year German Bund yield dropped to a one-month low of -0.35%. Meanwhile, a surge in COVID-19 cases in central Europe raised concerns about the ongoing recovery, with Austria returning to a full-lockdown and Germany imposing new restrictive measures to limit new infections.

Today, the Central Bank of Malta publish an economic update wherein it explained that in October, business activity eased from its recent highs but remained strong. Malta’s inflation rate based on the Harmonised Index of Consumer Prices reached 0.7% in September, up from 0.4% in the previous month. Elsewhere, Maltese residents’ deposits increased by 10% in September when compared to the same period in 2020.