Daily Market Highlights (20.12.2019)

MSE Equity Price Index falls sharply on low volumes


The MSE Equity Price Index retracted by 0.87% to 4,601.980 points following the declines in BOV, HSBC and FIMBank. Three other equities ended the day unchanged, while trading activity continued to contract to subdue levels as only €0.04 million worth of shares changed hands. Download today’s Equity Market Summary.

In the banking sector, HSBC Bank Malta plc erased yesterday’s gains as the equity slipped 5.6% to return to the €1.18 level across 4,508 shares. Similarly, Bank of Valletta plc fell by 1% to the €1.04 level across 16,000 shares.

Meanwhile, FIMBank plc fell by 3.1% to the 0.62 USD level across 6,853 shares.

A single trade of 8,000 shares left the equity of MIDI plc unchanged at the €0.50 level.

Malta International Airport plc remained at the €6.90 level as 800 shares changed hands.

MaltaPost plc retained the €1.30 level across a single trade of 5,000 shares. Later today, MaltaPost is expected to release its full year results for the year ended 30 September 2019.

The RF MGS Index fell by a further 0.06% to reach a 5-month low at 1,142.945 points. Today, the UK House of Commons approved legislation governing the UK’s withdrawal from the EU, which puts the country on course to leave by 31 January 2020. Lawmakers agreed to the bill in principle and it will now be debated further by both chambers of Parliament early next year.

Meanwhile, the UK government approved Andrew Bailey to take over from Mark Carney as Governor of the Bank of England as from March 2020, whilst the UK’s GDP for Q3 2019 was revised slightly higher to 0.4% from 0.3%. Elsewhere, US economic growth maintained a moderate pace of expansion as GDP increased at a 2.1% annualized rate during Q3, which was in line with expectations.

Following yesterday’s admission to the Official List of the two new bonds of AX Group plc, namely the €15 million nominal 3.25% bonds 2026 and €10 million nominal 3.75% bonds 2029, trading was limited to €34,300 nominal in the 10-year bond which advanced by 151 basis points to 101.51%.

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