Daily Market Highlights (25.02.2022)
Trading on BMIT shares takes centre stage
The MSE Equity Price Index inched 0.10% higher to 3,762.405 points as the gains in FIMBank and MIDI outweighed the declines in GO and BMIT. Meanwhile, BOV, IHI and LifeStar Holding remained unchanged as overall trading activity in equities amounted to €0.21 million. Download today’s Equity Market Summary.
BMIT Technologies plc dropped by 1.2% to the €0.484 level after partially recovering from an intraday low of €0.482 (-1.6%) on strong volumes of 309,000 shares representing 71% of today’s value of shares traded.
BMIT’s parent company – GO plc – eased by 0.6% to the €3.20 level on four deals totalling 6,447 shares.
Elsewhere, MIDI plc advanced by 1% to the €0.41 level on low activity of 2,000 shares.
Today’s only other positive performing equity – FIMBank plc – surged by 5.6% to the €0.266 level albeit on trivial volumes.
Bank of Valletta plc stayed at the €0.80 level after recovering from an intraday low of €0.785 (-1.9%) on activity totalling 28,152 shares.
A single deal of 25,006 shares left the share price of International Hotel Investments plc at the €0.60 level.
LifeStar Holding plc stayed at the €1.00 level after opening lower at €0.95 on two deals amounting to 2,500 shares.
Yesterday, AX Real Estate plc announced that the Planning Authority approved the redevelopment of the seaside lidos of the Sunny Coast Resort, the Luzzu Complex, and the Seashells Resort at Suncrest. The equity remained inactive today.
The RF MGS Index extended yesterday’s gains as it increased by 0.13% to 1,039.340 points, thus closing higher (+0.05%) for the second consecutive week. Eurozone yields continued to move lower as investors remained cautious following the Russian invasion of Ukraine. Furthermore, oil prices surged to the highest levels since 2014 on expectations that the new sanctions imposed on Russia will limit the global supply of fuel.
Yesterday, Hili Finance Company plc announced the basis of acceptance in relation to the offer for sale of €50 million 4% unsecured and guaranteed bonds redeemable in 2027. In this respect, €22.5 million (nominal) were allocated to Authorised Financial Intermediaries through Placement Agreements. Meanwhile, applications for just under €39 million were received from ‘Preferred Applicants’ in respect of the remaining €27.5 million available during the Offer Period. As a result, Hili Finance will be allocating the first €20,000 of each application received from ‘Preferred Applicants’ in full, and 18.785% on any additional amount applied for thereafter rounded to the nearest €100. The bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 4 March 2022 and trading is expected to commence on 7 March 2022. Interest on the bonds is expected to commence on 3 March 2022.
This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.