Daily Market Highlights

Nov 20, 2018

  • After reaching its highest level in five days yesterday, the MSE Equity Price Index eased by 0.07% to 4,491.246 points today as the drops in BOV and HSBC marginally outweighed the gains in Farsons and Mapfre Middlesea. Meanwhile, GO and RS2 closed unchanged whilst trading volumes contracted sharply to just €0.08 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index posted its longest negative streak in nearly three months as it dropped by a further 0.07% (the sixth consecutive decline) to yet another multi-year low of 1,077.817 points. Malta Government Stock prices continued to move lower amid widening credit spreads between the yields of euro peripheral countries and the corresponding yields of German government bonds which, in turn, reflected heightened risk aversion in global equity markets. In addition, Italian government bonds yields were particularly volatile, with the 20-year yield now surpassing the 4% mark again amid renewed concerns over the country’s fiscal plan.
  • Bank of Valletta plc moved back to the €1.34 level (-0.7%) across 40,122 shares.
  • Within the same segment, HSBC Bank Malta plc dropped below the €1.80 mark as the equity retracted by 0.6% to the €1.79 level on a total of 5,400 shares. Recently, the bank indicated that it will soon provide an update on its medium-term capital plan.
  • Also among the large companies, GO plc retained the €4.00 level and RS2 Software plc traded flat at €1.17. Activity in both equities was shallow. GO is scheduled to hold an Extraordinary General Meeting on 3 December 2018 related to the proposed sale of up to 49% of its shareholding in BMIT Technologies plc through an Initial Public Offering.
  • Meanwhile, Simonds Farsons Cisk plc climbed 1.2% to the €8.20 level albeit on just 500 shares.
  • A single deal of 1,887 shares lifted the equity of Mapfre Middlesea plc 1.6% higher back to the €1.96 level.