Daily Market Highlights (01.06.2018)

  • Yesterday’s rebound in the MSE Equity Price Index (the first in five days) was short-lived as the local equity benchmark eased 0.12% today back to 4,298.948 points largely due to the decline in HSBC. A further three equities also trended lower whilst four equities, including BOV, edged higher. Over the week, the MSE Equity Price Index eased 0.1% lower amid significantly lower volumes of €1.15 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index continued to rebound from the significant declines incurred on Tuesday and Wednesday with an uplift of a further 0.2% to 1,108.390 points as the peripheral eurozone yields, including those of Spain and Italy, retreated after the Italian President approved a revised list of nominees for the new cabinet being proposed by the Five Star Movement and the Northern League. This paves the way for a new government to be formed although uncertainties regarding the policies of Italy’s first populist government still remain especially in relation to the country’s membership in the eurozone as well as the European Union. Meanwhile, Spanish Prime Minister Mariano Rajoy lost a no-confidence vote this morning.
  • HSBC Bank Malta plc shed 1.7% to drop back to the €1.69 level for the first time in two weeks across four deals totalling 15,798 shares.
  • In the property segment, Trident Estates plc registered a further 0.8% decline to close at the €1.30 level on shallow volumes of 3,108 shares. Likewise, insignificant volumes were transacted in the newly listed Main Street Complex plc with its share price retreating by 1.4% to the €0.69 level on just 200 shares.
  • Simonds Farsons Cisk plc eased by 0.8% to the €6.50 level on volumes of 3,153 shares. Today, the Farsons Group published its 2018 Annual Report ahead of the Annual General Meeting on 21 June.
  • On the other hand, Bank of Valletta plc moved 0.6% higher to regain the €1.75 level across four deals totalling 10,175 shares.
  • Also in the banking sector, Lombard Bank Malta plc edged 0.9% higher to close at the €2.30 level albeit on a single deal of 3,850 shares.
  • Tigné Mall plc added 2% to recapture the €1.00 level for the first time since mid-March. A total of 11,750 shares changed hands across four trades.
  • Similarly, MIDI plc edged 0.5% higher to close at the €0.436 level on volumes of 19,000 shares.
  • Meanwhile, GO plc held on to the €3.40 level across three deals totalling 11,837 shares.
  • Malta International Airport plc maintained the €5.00 level on activity of only 500 shares.
  • Plaza Centres plc (€1.04) and Santumas Shareholdings plc (€1.50) also held on to their previous closing prices on volumes of 50,000 shares and 19,490 shares respectively.