BOV & HSBC drive the MSE Equity Price Index higher
The MSE Equity Price Index trended in positive for the first time in three days as it rebounded by 0.32% to 3,774.892 points. The uplift was mostly driven by the gains in BOV and HSBC which, coupled with the positive performances of MPC and LifeStar Insurance, offset the declines in PG and RS2. Meanwhile, GO, FIMBank, IHI and Hili Properties ended the day unchanged as overall trading activity in equities contracted to €0.09 million. Download today’s Equity Market Summary.
HSBC Bank Malta plc rallied by 4.5% to regain the €0.93 level across 12,000 shares.
Also in the retail banking segment, Bank of Valletta plc advanced by 1.2% to the €0.83 level on 25,393 shares.
LifeStar Insurance plc added 2.3% to the €0.45 level albeit on trivial volumes.
The other positive performing equity today was Malta Properties Company plc with an uplift of 3.8% to the €0.54 level across 4,591 shares.
Within the same segment, Hili Properties plc stayed at the €0.272 level on insignificant volumes. Yesterday, Hili Properties announced that it concluded the acquisition of a 50,000 sqm land plot in Lithuania’s largest free economic zone for €20.9 million. The property houses a 19,000 sqm factory leased to REHAU Production which is a leading provider of solutions to the construction, automotive and industrial industries. Following this transaction, the value of the company’s property portfolio increased to €135 million whilst the total leasable area increased to 90,000 sqm across 23 properties. Meanwhile, Hili Properties also noted that the planned property acquisition in Warsaw, Poland, did not materialise.
Five deals totalling 7,000 shares left the share price of GO plc at the €3.22 level.
FIMBank plc also closed the day unchanged at the USD0.256 level across 14,647 shares.
International Hotel Investments plc maintained the €0.60 level across 8,086 shares.
Meanwhile, PG plc drifted 1.7% lower to a near five-month low of €2.34 on a total of 10,600 shares.
The ordinary share price of RS2 Software plc ended today’s trading session 1.8% lower at €1.67 albeit on light volumes.
The RF MGS Index extended yesterday’s gains as it added 0.33% to 1,069.38 points. Sovereign bond yields in the euro area edged lower amid doubts over the strength of the economic recovery. Meanwhile, ECB President Christine Lagarde reiterated that inflation in the euro area is unlikely to surge to levels seen in the US reflecting the weaker economic rebound across the single currency block when compared to the US.
This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.