Daily Market Highlights (22.05.2020)

MSE Equity Price Index resumes negative trend


The MSE Equity Price Index erased all of yesterday’s rebound as it slipped by 0.79% to a 5-week low of 3,909.020 points. Today, the declines in BOV, HSBC, IHI, MIA and Farsons outweighed the gains registered in GO, PG and Main Street whilst trading activity improved to €0.37 million, mainly on account of the heightened activity registered in IHI which accounted for 77.8% of today’s total value traded. Download a copy of today’s Equity Market Summary.

In the banking sector, Bank of Valletta plc shed 1.9% as it returned to the €1.02 level across 14,318 shares whilst HSBC Bank Malta plc lost 1% to the €0.96 level as 6,000 shares changed hands.

Malta International Airport plc failed to hold onto a intra-day high of €5.00 (+0.8%) as it ended the day with a decline of 0.4% at the €4.94 level on total activity of 7,163 shares.

Today’s most actively traded equity, International Hotel Investments plc, slipped by 4.4% to the €0.54 level across 524,902 shares.

Meanwhile, Simonds Farsons Cisk plc shed 0.2% to the €8.05 level across low volumes.

A single trade of 2,000 shares in GO plc saw the equity rise by 1.1% to the €3.60 level.

Similarly, PG plc closed at a nine-week high as it climbed by 1% to the €1.90 across a single trade of 2,700 shares.

Also among today’s positively performing equities, Main Street Complex plc surged by 6.9% to the €0.496 level across 21,782 shares.

The RF MGS Index moved higher for the second day in succession as it climbed by 0.13% to 1,109.810 points. According to the minutes of the 30 April meeting which were revealed earlier today, the European Central Bank (ECB) said that it is ready to expand its Pandemic Emergency Purchase Scheme from as early as June, if economic data warrant such a move. Policymakers agreed at the April meeting to provide loans at even more favourable terms but held back on big moves such as extending or expanding asset purchases, disappointing some market players. The ECB will next meet on 4 June and many expect it to increase asset purchases by as much as €500 billion this year as the euro zone economy is expected to shrink by around 10% in 2020.