The MSE Equity Price Index trended higher for the third consecutive day as it added a further 0.13% to 3,474.099 points. The gain was mostly driven by the uplift in the share price of BOV on sharply higher volumes. PG and MPC also ended the day in positive territory whilst MIA and RS2 slipped lower whilst HSBC and Farsons traded unchanged.
Bank of Valletta plc surged by 2.8% to regain the €0.88 on heightened activity totalling 250,000 shares having a market value of €0.22 million and representing 64% of today’s total value of equities traded.
PG plc climbed 1.1% back to the €1.90 level on a total of 32,000 shares.
Malta Properties Company plc added 2% to recapture the €0.52 level across 19,026 shares.
RS2 Software plc extended its recent downward trend as the equity dropped 2% to a fresh near five-month low of €2.00 across 17,451 shares. The company will be holding an Extraordinary General Meeting in mid-December.
The other negative performing equity today was Malta International Airport plc with a drop of 1.3% to the €4.72 level albeit on trivial volumes.
Meanwhile, HSBC Bank Malta plc held on to its multi-year low of €0.70 across 10,000 shares.
Three deals totalling 1,500 shares left the equity of Simonds Farsons Cisk plc at the €6.95 level.
Following yesterday’s AGM, Mapfre Middlesea plc published a report detailing answers to a number of questions received. Mapfre made reference to the toughening operating environment which is partly being mitigated by new investments in core business systems which will enable improvements to the company’s product portfolio. Mapfre Middlesea reiterated that its capital position is adequate but with respect to its life assurance subsidiary Mapfre MSV Life plc, a Management Action Plan is being considered to safeguard the company’s solvency and further strengthen its capital base particularly in view of the still very uncertain situation across international financial markets.
Plaza Centres plc announced that it is offering its shareholders the opportunity to tender their shares to the company, if they so desire, at any price within a range of €0.90 to €1.00 per share. Initially, this offer for the repurchase of the company’s own shares at the stated range is being made for a maximum amount of 1 million shares. All offers that will be considered must be received between 2 November 2020 and 4 November 2020 at 16.00 hrs. Any offers accepted by the company will be officially traded on the Malta Stock Exchange on 10 November 2020.
The RF MGS Index erased some of yesterday’s drop as it rebounded by 0.05% to 1,118.073 points. Movements across international financial markets remained highly volatile as concerns mounted that the second wave of COVID-19 cases around the world will derail much of the economic recovery registered in recent months. Furthermore, uncertainties over the upcoming elections coupled with diminished hopes for another round of fiscal stimulus in the US also weighed heavily on investor sentiment.
The Treasury announced the issue of €150 million in new Malta Government Stocks subject to an over-allotment option of an additional sum up to a maximum of €85 million. Applications in the form of sealed bids (auction) for amounts of a minimum of €500,000 nominal will open on Wednesday 4 November and close on the same day.