Daily Market Highlights (29.10.2021)

MSE Equity Price Index drops to a 12-week low


The MSE Equity Price Index moved lower for the third consecutive session as it lost 0.46% to 3,844.797 points. BOV, GHM, MIA and RS2 ended lower and three other equities closed unchanged. Overall trading activity reached the highest level in over two weeks at €0.10 million. Download today’s Equity Market Summary.

Bank of Valletta plc eased by 0.6% and closed at an 11-month low of €0.865 on six trades totalling 50,502 shares, representing nearly 44% of today’s trading value.

Also among equities with a large market cap, Malta International Airport plc lost 2.5% to the €5.95 level on two deals totalling 2,000 shares.

The ordinary shares of RS2 Software plc extended yesterday’s decline by a further 0.6% to the €1.71 level on three deals totalling 10,995 shares.

Grand Harbour Marina plc traded for the first time in eight weeks and slumped by 7.5% to the €0.74 level albeit on trivial volumes.

Elsewhere, Mapfre Middlesea plc remained at the €2.12 level after it recovered from an intraday low of €2.10 (-0.9%) on three deals totalling 6,580 shares.

MaltaPost plc traded flat at the €1.24 level as 8,200 shares changed hands.

Similarly, HSBC Bank Malta plc kept the €0.80 level on a single trade of 1,236 shares.

The RF MGS Index recorded the sharpest daily decline in three weeks as it dropped by 0.36% to 1,080.507 points as eurozone inflation reached 4.1% in October, the highest level in 13 years. In an address to the media yesterday, ECB President Christine Lagarde recognised that inflation levels exceeded expectations but reiterated that inflation is expected to decline during the course of next year and fall below the 2% target by 2023. The eurozone economy grew by 2.2% in the third quarter of this year, amid a better-than-expected recovery in France and Italy. Meanwhile, Germany and Spain reported lower-than-expected growth.

Yesterday, International Hotel Investments plc announced that it obtained regulatory approval for the issue of €80 million 3.65% unsecured bonds maturing in 2031. The prospectus will be published next Monday 1 November 2021.