Daily Market Highlights (23.03.2021)

BOV, HSBC and BMIT lift MSE Equity Price Index


The MSE Equity Price Index rose to its highest point in a week as it climbed by 0.47% to 3,804,667 points. The gains in BOV, HSBC and BMIT outweighed the declines in Lombard and Medserv whilst MIDI, MIA and RS2 all traded unchanged. Download today’s Equity Market Summary.

In the retail banking sector, Bank of Valletta plc rebounded from its 4½ month low as it rose by 2.7% to recapture the €0.90 level across 10,000 shares. BOV’s Board of Directors is scheduled to meet on Tuesday 30 March 2021 to consider and approve the financial statements for the year ended 31 December 2020. Similarly, HSBC Bank Malta plc added 2.4% to the €0.84 level as 12,250 shares changed hands.

A single trade of 2,500 shares forced Lombard Bank Malta plc 2.1% lower to a fresh 4-month low at the €1.90 level. Lombard’s Board of Directors is scheduled to meet on Thursday 22 April 2021 to approve the financial statements for the year ended 31 December 2020. The Directors will also consider the declaration of a final dividend to be recommended to the Annual General Meeting, subject to regulatory guidelines and approvals.

Medserv plc plunged by nearly 8% as it returned to the €0.58 level across a single deal of 3,400 shares.

Meanwhile, BMIT Technologies plc recovered from an intraday low of €0.525 (-0.9%) before closing 0.9% higher at the €0.535 level across 75,200 shares.

Also in the IT Services sector, RS2 Software plc closed flat at the €1.80 level as 5,000 shares changed hands.

Elsewhere, Malta International Airport plc retained the €5.85 level across 1,577 shares whilst MIDI plc traded unchanged at the €0.40 level across trivial volumes.

The RF MGS Index inched 0.08% higher to 1,118.431 points. 10-year Euro Sovereign Bond yields declined sharply today as a new wave of coronavirus infections in the 27-member bloc as well as a fresh lockdown in Germany raised fears of a slow economic recovery from the pandemic shock. Meanwhile on the vaccine front, AstraZeneca plans to release up-to-date results from the US study of its COVID-19 vaccine within 48 hours following criticism from a science agency that an analysis AstraZeneca published on Monday included old information. The drug maker had announced that the vaccine was found to be 79% effective in preventing COVID-19 in the US clinical trial of more than 30,000 volunteers.