Daily Market Highlights (22.06.2020)

GO drops to new 2020 low


The MSE Equity Price Index opened the week slightly lower as it eased by 0.14% to 4,021.654 points. The drops in GO and Mapfre Middlesea outweighed the gains in BOV and Lombard whilst a further four companies closed the day unchanged. Trading activity remained subdued as only €0.13 million worth of shares changed hands. Download today’s Equity Market Summary.

GO plc extended its recent decline as it dropped by a further 0.6% to a new 2020 low of €3.38 across 3,600 shares.

The other negative performing equity today was Mapfre Middlesea plc as it slipped by 3.5% back to the €2.20 level on seven deals totalling 7,886 shares.

In the retail banking sector, Bank of Valletta plc added 0.5% to regain the €1.02 level across 47,163 shares.

Lombard Bank Malta plc climbed 1% higher to the €2.04 level albeit on just 500 shares.

Low trading activity also took place in the equities of GlobalCapital plc and Malta Properties Company plc which ended the day unchanged at €0.33 and €0.58 respectively.

Two deals totalling 5,197 shares left the equity of Malta International Airport plc at the €5.80 level.

HSBC Bank Malta plc traded flat at the €0.96 level on a total of 12,300 shares.

The RF MGS Index trended higher for the third consecutive day as it added 0.06% to 1,098.604 points. Prices of Malta Government Stocks continued to edge higher amid declining sovereign bond yields in the euro area reflecting concerns over the increased number of COVID-19 cases around the world especially in the US and Latin America.

Today, Mediterranean Investments Holding plc announced that it filed an application with the Listing Authority of the MFSA requesting admissibility to listing of €20 million 5.5% unsecured bonds redeemable in 2023 to be issued at par and guaranteed by Corinthia Palace Hotel Company Limited. Subject to the Listing Authority’s approval, the net proceeds from the new bonds will be used to redeem the 5.5% unsecured bonds which are due to mature on 31 July 2020. MIH will be giving preference to holders of the maturing bonds as at close of trading on 23 June 2020.