Daily Market Highlights (22.07.2020)

MSE Equity Price Index posts 5-day negative streak


The MSE Equity Price Index moved lower for the fifth consecutive trading session as it slipped by a further 0.08% to a near two-month low of 3,921.553 points. The drop was driven by the declines in HSBC and IHI which coupled with the decline in the share price of BMIT outweighed the gains in four other companies. Meanwhile, Bank of Valletta plc closed the day unchanged at the €0.95 level across 35,010 shares. BOV is due to publish its interim results on 31 July. Download today’s Equity Market Summary.

HSBC Bank Malta plc lost 1% to the €0.95 level on a total of 8,050 shares. HSBC will publish its interim financial results on 3 August.

A single deal of 15,000 shares forced the equity of International Hotel Investments plc to drift 0.9% lower back to the €0.54 level.

The other negative performing equity today was BMIT Technologies plc with a drop of 2.1% to the €0.476 level across 10,200 shares. BMIT is due to publish its interim results on 7 August.

BMIT’s parent company – GO plc – added 0.6% to regain the €3.44 level albeit on trivial volumes. Yesterday, GO announced that the Listing Authority approved the Prospectus in relation to the new €40 million 4% unsecured bonds to be issued by Cablenet Communication Systems plc – GO’s telecoms subsidiary in Cyprus.

Very low trading activity also took place in the equities of Plaza Centres plc and Lombard Bank Malta plc which climbed by 7.6% and 1% to €0.915 and €2.06 respectively.

GlobalCapital plc surged by 8.3% to the €0.39 level across 47,596 shares.

Yesterday, Ryanair issued a press release explaining that Malta has been one of its strongest destinations since the ease of COVID-19 travel restrictions in Europe. The Irish carrier is currently operating over 45 routes to/from Malta. No trading activity in the equity of Malta International Airport plc took place today. Meanwhile, MIA announced today that its interim financial statements will be published on 29 July while its AGM will take place on 11 November.

Following yesterday’s strong uplift which was the sharpest in nearly three months, the RF MGS Index eased by a marginal 0.04% to 1,106.258 points. Movements across international financial markets were relatively muted, with relations between the US and China taking centre-stage after China said that the US ordered it to close its consulate in Houston, Texas amid tighter controls on Chinese diplomats and journalists.