Daily Market Highlights (30.09.2021)

BOV, GO & RS2 drag the MSE Equity Price Index lower


The MSE Equity Price Index lost 0.23% to 3,875.656 points as the declines in BOV, GO and RS2 outweighed the gains in five other equities on trading activity of €0.07 million. Download today’s Equity Market Summary.

Bank of Valletta plc fell by 2.2% to the €0.87 level on a single deal of 2,977 shares.

Also among the large companies by market value, GO plc declined by 2.4% to the €3.32 level on two deals totalling 2,059 shares.

The ordinary shares of RS2 Software plc moved 1.7% lower to the €1.72 level on two trades totalling 2,650 shares.

Meanwhile, Lombard Bank Malta plc surged by 7.2% to the €1.94 level on four deals totalling 9,333 shares.

MIDI plc climbed by 4.4% to the €0.426 level as 30,000 shares changed hands.

Simonds Farsons Cisk plc added 1.8% to a 5-week high at €8.50. Yesterday, Farsons published its interim results for the six-month period ended 31 July 2021. Revenues increased by 13.1% to €41.6 million reflecting the strong rebound in activity across all business segments. Furthermore, Farsons recorded a marked improvement in profitability reflecting the increase in the volume of business as well as the more efficient operating model which translated into substantially higher margins. In fact, the Group posted a net profit of €4.9 million compared to €1.6 million in H1 2020/21. Farsons will be paying a net dividend of €0.05 per share to shareholders as at close of trading on Monday 4 October. The Board of Directors also noted that it will consider declaring a second interim dividend before the end of the 2021 calendar year should business conditions continue to improve.

Elsewhere, PG plc regained its all-time high of €2.50 (+0.8%) across four trades totalling 2,380 shares.

Main Street Complex plc traded for the first time in four weeks and increased by 0.8% to the €0.48 level across three deals totalling 20,000 shares.

The RF MGS Index erased most of yesterday’s gains as it lost 0.07% to 1,084.104 points. Eurozone sovereign bond yields resumed their upward trend amid further inflation concerns and improved economic prospects. Italy’s preliminary Consumer Price Index for September exceeded forecasts of 2.4% and reached a year-on-year increase of 2.6%. Meanwhile in the US, concerns of a potential government shutdown eased following an agreement to extend government spending until 3 December. The US government is seeking Congress approval to raise the debt ceiling. Today, the European Centre for Disease Prevention and Control (ECDC) placed Malta back on EU’s travel green list along with a number of other EU countries.

Melite Finance plc announced that the bondholders meeting which was to be convened by 8 October will now be convened at a later date.