Daily Market Highlights (28.01.2020)

MSE Share Index loses momentum

 

The MSE Equity Price Index erased all of its gains from the past two trading sessions as the index fell by 0.4% to 4,634.726 points. Four companies including HSBC and Simonds Farsons Cisk declined today as six other equities ended the day unchanged. Meanwhile, trading activity contracted to €0.21 million. Download today’s Equity Market Summary.

Simonds Farsons Cisk plc lost 0.9% to close at a 4-month low of €10.80 across heightened activity as 6,000 shares changed hands.

A single trade of 2,000 shares saw the equity of Medserv plc ease by 0.9% to the €1.09 level.

In the retail banking sector, HSBC Bank Malta plc continued its negative trend as the equity slipped by a further 2.7% to the €1.05 level across 35,891 shares – its lowest level since July 2003. Meanwhile, Lombard Bank plc fell by 4.4% to the €2.18 level, albeit across trivial volumes.

In the same sector, Bank of Valletta plc failed to hold onto an intraday high of €1.095 (+1.4%) as the equity closed flat at the €1.08 across 6,300 shares.

Similarly, RS2 Software plc ended the day unchanged at the €2.28 across 2,850 shares after reaching an intraday high of €2.30 (+0.9%).

Malta International Airport plc closed flat at the €6.80 level across 4,900 shares. MIA will be publishing its 2019 full-year financial results on 26 February and on the same day, it will also consider the declaration of a final dividend. The airport operator is soon expected to publish its 2020 traffic and financial forecasts.

Also among the large companies, GO plc remained at the €4.16 level across a single trade of 1,000 shares, whilst PG plc held onto the €2.06 level across 6,000 shares.

Elsewhere, Malita Investments plc retained the €0.90 level across 46,400 shares after reaching an intraday high of €0.91 (+1.1%).

The RF MGS Index trended higher for the fourth consecutive day as it climbed by a further 0.31% to an over two-month high of 1,152.342 points. Prices of Malta Government Stocks gained additional ground as concerns over the accelerating spread of coronavirus forced euro zone sovereign bond yields to tumble to their lowest levels since early November 2019.

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