Daily Market Highlights (22.01.2020)

HSBC drops to lowest level since July 2003


The MSE Equity Price Index extended yesterday’s decline by a further 0.3% to 4,653.896 points as the negative movements in the share prices of HSBC, FIMBank and MIDI outweighed the rally in Trident. Elsewhere, four other companies traded unchanged as trading activity contracted sharply to €0.13 million compared to over €1 million yesterday. Download today’s Equity Market Summary.

HSBC Bank Malta plc slipped by another 1.8% to a fresh multi-year low of €1.08 across 21,951 shares. The bank is due to publish its 2019 full-year financial results on 18 February. The Directors will also consider recommending a final dividend for approval at the AGM scheduled to be held on 8 April.

Also in the banking sector, FIMBank plc tumbled almost 5% back to the USD0.60 level across 50,927 shares.

In the property segment, MIDI plc moved to a nineteen-month low of €0.47 (-2.1%) on activity totalling 42,285 shares.

In contrast, Trident Estates plc surged 14.2% to the €1.77 level albeit on just 2,800 shares.

Meanwhile, Malita Investments plc (5,400 shares) and Tigné Mall plc (44,150 shares) both held on to the €0.90 level.

Bank of Valletta plc also traded flat at the €1.10 level on weak volumes totalling 2,600 shares.

A single deal of just 438 shares left the equity of Simonds Farsons Cisk plc at the €11.00 level.

The RF MGS Index erased some of yesterday’s uplift as it slipped by 0.06% to 1,140.014 points. Prices of Malta Government Stocks mostly reflected changes in the yields of Italian government bonds amid renewed political certainty in the country due to the resignation of Mr Luigi Di Maio as leader of the co-ruling 5-Star Movement. This was also coupled by disappointing Italian industrial new orders data which contracted by over 4% in November 2019 compared to the corresponding period in 2018.

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