Daily Market Highlights (29.10.2021)

IHI publishes prospectus for new bond issue


The MSE Equity Price Index opened the week in negative territory as it eased by a further 0.57% to a fresh thirteen-week low of 3,822.855 points. RS2, Trident and LifeStar trended lower whilst BOV, BMIT and GHM ended the day unchanged. Meanwhile, on the Alternative Companies List, Loqus Holdings plc surged to an eleven-year high of €0.21 on trivial volumes. Download today’s Equity Market Summary.

Today, International Hotel Investments plc published a prospectus in relation to the issuance of new €80 million unsecured bonds maturing in 2031 with a coupon of 3.65%. The net proceeds are principally earmarked for the redemption of the 5.8% IHI plc bonds maturing in late December 2021, as well to finance new projects in Rome, New York, and Malta. No trading took place in IHI’s equity today.

Trident Estates plc dropped by 7.1% to the €1.44 level on a single deal of 4,300 shares.

The ordinary shares of RS2 Software plc eased by 0.6% to the lowest level since March 2020 at the €1.70 level on two deals totalling 475 shares. Similarly, the preference shares also moved lower by 4.6% to €1.67 across 6,000 shares.

LifeStar Holding plc was the worst performing equity today as it slumped to an all-time low of €0.10 albeit on insignificant volumes. The company is holding its AGM on Tuesday 9 November.

A single trade of 4,989 shares left the share price of Bank of Valletta plc at the €0.865 level.

Similarly, BMIT Technologies plc remained at the €0.484 level on a single deal of 6,381 shares.

Grand Harbour Marina plc held on to the €0.74 level after recovering from an intraday low of €0.735 (-0.7%). A total of 10,000 shares traded.

The RF MGS Index retracted by 0.14% to a 35-month low of 1,078.974 points. Sovereign bond yields in the euro area continued to drift higher as inflation in the single currency block reached 4.1% in October – the highest level in 13 years. Meanwhile in the US, the Federal Reserve is expected to start tapering its asset purchases in the coming weeks.