Daily Market Highlights (27.02.2020)

RS2 pulls the MSE Equity Price Index lower

 

The MSE Equity Price Index extended yesterday’s drop as it moved 0.51% lower to 4,608.653 points. The decline was driven by the negative performance of RS2 which contracted by almost 4%. Moreover, GO, Farsons, and Mapfre Middlesea also trended lower today. On the other hand, PG, BMIT and MPC posted gains whilst another four companies closed the day unchanged. Overall trading activity remained largely unchanged from yesterday as a total of €0.35 million worth of shares changed hands. Download today’s Equity Market Summary.

RS2 Software plc shed 3.9% as it slipped back to the €2.46 level across 39,990 shares.

Also among the large companies, GO plc eased by 0.5% back to the €4.20 level on six deals totalling 15,528 shares. GO is due to publish its 2019 annual financial results on 12 March. The Directors will also consider recommending a dividend.

Simonds Farsons Cisk plc retreated to the €10.90 level (-0.9%) across 2,000 shares whilst Mapfre Middlesea plc shed 3.4% to the €2.28 level albeit on trivial volumes. Mapfre Middlesea is due to publish its 2019 annual financial results on 12 March. The Directors will also consider recommending a dividend.

PG plc was the best performing equity today as it rebounded by 3.1% to regain the €2.02 level across 4,750 shares.

Six deals totalling 65,000 shares lifted the equity of BMIT Technologies plc 0.9% higher to the €0.535 level. The company is due to publish its 2019 full-year results on 12 March. The Directors will also consider recommending a dividend. In the Prospectus dated 7 January 2019, the dividend for the 2019 financial year was estimated at €0.0216 per share.

Malta Properties Company plc added 0.8% to recapture the €0.67 level albeit on a small deal of just 625 shares. Shareholders as at close of trading on 24 April will be entitled to receive a net dividend of €0.01 per share.

Meanwhile, Malta International Airport plc traded unchanged at the €6.70 level across 3,650 shares. Yesterday, MIA published its 2019 annual financial statements revealing an 11.9% increase in net profits to €33.9 million. The Directors are also recommending an increase of 11.1% in the final dividend to €0.10 per share. Shareholders as at close of trading on 7 April will be entitled to receive the final dividend.

A single deal of 10,000 shares left the equity of International Hotel Investments plc unchanged at the €0.77 level.

The two largest banks – namely Bank of Valletta plc (20,938 shares) and HSBC Bank Malta plc (62,644 shares) – both closed the day unchanged at the €1.05 level. Shareholders of HSBC as at close of trading on 5 March will be entitled to receive a final net dividend of €0.014 per share.

The RF MGS Index trended lower for the third consecutive day as it slipped by a further 0.05% to 1,155.544 points. Movements across international financial markets remained volatile, largely reflecting the various uncertainties related to the coronavirus pandemic. Meanwhile, economic data in Europe was encouraging and well above expectations, indicating that the single currency bloc was gaining momentum before the recent outbreak of the coronavirus in northern Italy.

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