The MSE Equity Price Index trended lower for the first time in five days as it eased by 0.15 per cent to 4,159.226 points. The declines in BOV, BMIT and PG outweighed the gains in five other shares whilst three companies ended unchanged.
During this shortened week, the local equity index added 2.2 per cent largely driven by the strong uplifts in GO, FIMBank and Mapfre Middlesea which, in aggregate, saw their combined market value increase by almost €77 million.
Plaza Centres plc was the most actively traded equity today as the company’s share price stayed at the €0.98 level after opening at a low of €0.915 (-6.6 per cent). A total of 96,530 shares changed hands.
Bank of Valletta plc eased 2.8 per cent lower to the €1.04 level after partially recovering from an intra-day low of €1.005 (-6.1 per cent). A total of 26,608 shares traded.
BMIT Technologies plc lost 2per cent to the €0.48 level after failing to hold on to an intra-day high of €0.496 (+1.2 per cent) on volumes totalling 81,885 shares.
The other negative performing equity today was PG plc as it eased 0.5per cent back to the €1.90 level albeit on just 3,600 shares. The company’s Board of Directors is scheduled to meet on 14 December to consider and, if deemed fit, approve the interim financial statements for the six-month period ended 31 October 2020.
Minimal trading activity also took place in the equities of MaltaPost plc and Medserv plc. The postal operator traded unchanged at the €1.14 level whilst Medserv surged 6.7per cent to an over three-month high of €0.64. MaltaPost is due to publish its full-year results on 21 December.
MaltaPost’s parent company – Lombard Bank Malta plc – added 2.1per cent to a five-month high of €2.10 across 5,034 shares.
Similarly, HSBC Bank Malta plc trended 0.5per cent higher to a near five-month high of €0.955 on a total of 21,325 shares.
Also among the large companies by market value, RS2 Software plc added 1per cent to regain the €2.06 level across 8,000 shares. During the EGM which is scheduled to be held on 15 December, RS2 shareholders will be asked to consider a number of changes to the company’s Memorandum of Association. These are aimed at enabling and empowering RS2 to implement its objectives and expansion plans including tapping opportunities within the Merchant Services segment. Furthermore, RS2 is seeking to restructure its share capital. Thus, following regulatory approval, RS2 intends to issue new preference shares which will be listed on the Official List of the MSE.
Malta International Airport plc advanced 0.8per cent to recapture the €6.20 level across 9,066 shares. On Wednesday, MIA published the traffic results for November showing a substantial drop in passenger movements. On the other hand, MIA noted that the 16.2per cent decline in cargo and mail volumes was more contained given the importance of keeping supply chains running amid the prevailing viral crisis.
Meanwhile, a single deal of 5,047 shares left the equity of Mapfre Middlesea plc at the €2.12 level.
The RF MGS Index maintained its upward trend for the sixth consecutive day as it added a further 0.11per cent to a nine-month high of 1,133.311 points. It was another eventful week for MGS and international bond markets. All MGS with maturities of thirteen years and over added more than 100 basis points as developments across financial markets were once again dominated by the progress in the rollout of vaccines against COVID-19 as well as the ECB monetary policy meeting which was concluded on Thursday. On the political front, the EU-UK are holding the final talks in attempt to avoid a hard Brexit whilst the EU also overcame the last obstacles for rolling out its €1.8 trillion seven-year budget coupled with a €750 billion aid programme aimed at helping European economies recover from the COVID-19 crisis.