Daily Market Highlights (20.07.2021)

Quiet day across local equity market

 

The MSE Equity Price Index recouped most of yesterday’s losses as it inched 0.15% higher to 3,867.298 points on the back of the gains in GO. Meanwhile, MIA traded flat as overall trading activity remained lacklustre. Download today’s Equity Market Summary.

Malta International Airport plc remained at the €6.30 level across a single deal of 800 shares. MIA will be publishing its June 2021 interim financial results on 28 July.

GO plc rose by 1.8% to a near 2-month high at the €3.46 level, albeit across trivial volumes. Today, GO announced that its Board of Directors is scheduled to meet on Monday 9 August 2021 to consider and approve the interim financial statements for the six-month period ended 30 June 2021.

In separate announcements made today, Plaza Centres plc (28 July 2021), Tigné Mall plc (5 August 2021) and BMIT Technologies plc (6 August 2021) all announced the respective dates when they are due to publish their June 2021 interim results.

The RF MGS Index advanced for the fourth consecutive session with an increase of 0.11% to 1,103.009 points. German producer price inflation reached levels last seen 39 years ago, as it advanced by 8.5% in June when compared to a year earlier. This substantial increase reflects the low base effect from the same period last year, together with increased demand as the German economy continues to recover. On a monthly basis, German producer prices increased by 1.3% in June, which is higher than the expected growth of 1.1%.

Yesterday, International Hotel Investments plc announced that it submitted plans to build a low-lying, highly landscaped resort on the 83,000 sqm site currently occupied by the disused Hal-Ferh Holiday Complex. The development will comprise a 5-star hotel having 162 keys as well as 25 hotel-serviced residences. Commenting on the proposed development, IHI Chairman Mr Alfred Pisani said: “We are very excited about this new resort. We will create a world class product that matches all that we are doing as a brand globally in the luxury sector. We are aiming at setting a new benchmark for the island. As we emerge from the most challenging period ever faced by our industry worldwide, our investment reaffirms Corinthia’s strong commitment and belief in Malta, our home country.”

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