Daily Market Highlights (28.10.2021)

Six equities drag the equity price index lower


The MSE Equity Price Index dropped by 0.42% to 3,862.439 points as the declines in six equities outweighed the gain in RS2 Preference shares. Meanwhile, MIA remained unchanged as overall trading activity amounted to €0.07 million. Download today’s Equity Market Summary.

Bank of Valletta plc moved 1.1% lower to the €0.87 level on four trades totalling 24,991 shares.

Also in the retail banking sector, HSBC Bank Malta plc lost 1.2% to the €0.80 level on two deals totalling 4,939 shares.

International Hotel Investments plc eased by 0.8% to the €0.60 level on three trades totalling 7,230 shares.

A single trade of 1,800 shares left MaltaPost plc 3.1% lower at the €1.24 level.

BMIT Technologies plc dropped by 0.8% to the €0.484 level, partially recovering from an intraday low of €0.48 (-1.6%) as 50,000 shares changed hands.

Within the same sector, the ordinary shares of RS2 Software plc eased by 0.6% to the €1.72 level on three deals totalling 4,856 shares. Meanwhile, the preference shares increased by 2.9% to the €1.75 level on a single trade of 1,142 shares.

Malta International Airport plc remained at the €6.10 level on a single trade of 160 shares.

The RF MGS Index reached the highest level in three weeks as it advanced by 0.23% to 1,084.409 points. Today, the European Central Bank held its monetary policy meeting and kept its key interest rates unchanged and confirmed that its pandemic emergency purchase programme will continue until at least the end of March 2022. However, the ECB noted that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases. Meanwhile in the US, the economy grew by 2% (lower than the expected figure of 2.8%) marking the slowest growth since the end of the 2020 recession.

Today, APS Bank plc published a quarterly financial update providing details on its financial performance up to 30 September 2021. During the first nine months of the year, net interest income increased by 12.3% to €40.6 million on the back of the increase in interest income reflecting the strong growth in lending activity. Operating costs reached €30.4 million compared to the €25.2 million for the same period last year, reflecting further investment in human resources and IT. For the first nine months of the year, the Group’s profit after tax amounted to €10.9 million (2020: €8.5 million), with an annualised return on average equity of 6.9% (2020: 5.9%). APS CEO Marcel Cassar noted that “plans remain on track to approach the market in 2022 to raise new equity as we prepare for our next stage of development.”

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