Until the penultimate trading day of the year which took place yesterday, the MSE Equity Price Index suffered a decline of 12.7 per cent during the course of 2020. Accordingly, the Maltese equity market underperformed most of the larger developed global stock markets.
Equity indices in the US posted sharp gains principally as a result of the spectacular performances of the largest technology companies – namely Apple, Microsoft, Amazon, Alphabet and Facebook. In fact, the NASDAQ index rallied by over 40 per cent with the S&P 500 up by nearly 16 per cent and the Dow Jones Industrial Average heading to the year-end with a gain of over six per cent.
The MSE Equity Total Return Index registered another positive 0.3% increase, as it reached 8,551.786 points – extending its positive rally to eight consecutive weeks.
A total of 19 equities were active, nine of which headed north, while another six closed in the opposite direction.
Total weekly turnover increased by over €0.6 million to €2.2 million, as 242 transactions were executed.
This week, Malta Properties Company plc was the most liquid, as it generated a total weekly turnover of €560,764. The equity declined by 1.6% to €0.492, as 1,135,583 shares changed hands across 25 transactions.
In the same sector, Tigne’ Mall plc traded 4% higher, as five deals involving 13,500 shares were executed. The equity ended the week at €0.78. Similarly, a sole deal of 5,000 Malita Investments plc shares pushed the price by 3.3% to €0.95.
The MSE Equity Total Return Index extended its positive trend for the seventh consecutive week, having registered a positive 2.1 per cent increase to 8,528.554 points.
A total of 20 equities were active, 14 of which headed north, while another four closed in the red. A total weekly turnover of €1.6 million was generated across 253 transactions.
Telecommunications company, GO plc¸ was the most active, as it generated a total turnover of €212,639. A total of 21 deals involving 62,301 shares pushed the price 12.5% higher, reaching the €3.60 price level – a six-month high. On the other hand, its subsidiary, BMIT Technologies plc, declined by 0.8% as 301,866 shares changed hands over 25 deals. The equity ended the week at the €0.48 price level.