PG plc share price surges to new all-time high
The MSE Equity Price Index jumped by 2.34% to a 15-week high at 4,055.842 points as the gains in PG, RS2, MIDI and IHI outweighed the declines in MPC and MaltaPost. Meanwhile, BOV, HSBC, Harvest and MIA all closed unchanged as overall trading activity improved to €0.24 million, largely on the back of the heightened activity in PG which accounted for nearly 72% of today’s total value traded. Download today’s Equity Market Summary.
PG plc advanced by just over 20% to a fresh all-time high at the €2.50 level on overall volumes of 81,350 shares with the large majority of shares changing hands at a price of €2.08.
RS2 Software plc recovered most of Monday’s sharp decline as it rebounded by 7.6% to the €1.98 level across 11,875 shares. Tomorrow, RS2 is scheduled to publish its 2020 Annual Report.
Also among the large companies by market cap, International Hotel Investments plc climbed by 4.6% to the €0.68 level as 5,500 shares changed hands. IHI is due to publish its 2020 Annual Report on Friday 30 April.
Meanwhile, MIDI plc rose by 5% to the €0.42 level across 42,500 shares.
Also in the property sector, Malta Properties Company plc eased by 1.8% as it returned to the €0.545 level across a single trade of 1,000 shares.
MaltaPost plc recovered from an intraday low of €1.18 (-7.1%) before ending the session 1.6% lower at the €1.25 level as 1,000 shares changed hands.
Elsewhere, Malta International Airport plc remained rooted to the €6.20 level across just 220 shares.
In the banking sector, Bank of Valletta plc (€0.90) and HSBC Bank Mata plc (€0.82) both closed unchanged across 7,919 shares and 4,935 shares respectively.
Harvest Technology plc closed flat at the €1.45 level as 6,900 shares changed hands.
The RF MGS Index fell for the fourth session in succession as it lost a further 0.16% to an over 7-month low of 1,110.116 points. Euro Sovereign Bond yields continued to rise, fuelled by optimism of an imminent economic recovery and inflation concerns. Member states of the European Union are currently pushing for the approval of the spending programmes of each country to roll out the €750 billion recovery plan approved last December. Elsewhere in the US, today the Federal Reserve will conclude its two-day monetary policy meeting whereby analysts are expecting the Federal Reserve to paint a robust picture on the US economy but to keep policies unchanged for the time being.