Pg 1 of 2171234Last »
  • The MSE Share Index extended yesterday’s gains of 0.51% by a further 0.24% to 4,652.163 points as the gains in four equities outweighed the 3% drop in Mapfre Middlesea. Meanwhile, six other shares closed the day unchanged. Trading volumes improved to a nine-day high of €0.28 million. During the past five days, the Index lost 0.39% as the declines recorded during the first three sessions of the week offset the gains registered on yesterday and today. Download a copy of today’s Equity Market Summary.
  • Following the declines in the previous two days, the RF MGS Index rebounded strongly today as it gained 0.2% – the sharpest daily uplift in nearly six weeks – to 1,130.322 points. Eurozone bond yields were dragged lower by comments made by the Vice-President of European Central Bank who was reported as saying that “the growing uncertainty surrounding the strength of the world economic recovery, and of the U.S. in particular, makes the normalization of inflation and unemployment levels in the euro area more difficult.” Vitor Constancio’s remarks were also supported by Austria’s central bank governor Ewald Nowotny who added that “as long as we have low rates of inflation… I do not see a perspective for higher rates of interest”. Following last week’s minimal decline of 0.04%, during the past five days the RF MGS Index rebounded by 0.16%.
  • Amongst the large companies by market capitalisation, five deals totalling 6,050 shares lifted the equity of Malta International Airport plc 0.7% higher back to the €4.20 level.
  • Similarly, HSBC Bank Malta plc regained the €1.92 level (+1.1%) across 4,268 shares.
  • Tigne’ Mall plc rebounded by 8.3% from its 2017 low of €0.90 to the €0.975 level on volumes totalling 91,000 shares. However, most of the trading activity took place at the €0.90 level.
  • The other positive performing equity today was GlobalCapital plc which soared 21.2% to the €0.40 level albeit on a single deal of just 3,000 shares. On Wednesday, the insurance specialist published its 2017 interim financial statements revealing a net profit of €1.38 million compared to the €0.87 million registered in the corresponding period last year. The improvement in profitability largely reflects the increase in the value of in-force business at the Group’s life insurance subsidiary as well as the higher levels of investment income. Subject to regulatory approval, the Directors intend to proceed with a rights issue in respect of an amount of shares not exceeding €15 million in nominal value by the end of this year. The rights issue is intended to support the Group’s growth strategy going forward.
  • Within the same sector, light volumes of 3,000 shares forced the equity of Mapfre Middlesea plc 3% lower back to the €1.88 level.
  • Meanwhile, six equities closed the day unchanged. A single deal of just 4,065 shares left International Hotel Investments plc at the €0.61 level.
  • Bank of Valletta plc maintained the €2.097 level after recovering from an intra-day low of €2.07 (-1.3%) across a total of 10,624 shares.
  • Similarly, RS2 Software plc held on to the €1.78 level after opening 0.6% lower at €1.77 on volumes totalling 17,420 shares.
  • In the property segment, MIDI plc held on to the €0.31 level on volumes of 167,000 shares. On Monday, MIDI published its condensed interim financial statements covering the six-month period ended 30 June 2017. The Group reported a net loss of €1.66 million, reflecting the lack of apartments available for delivery to their respective owners. MIDI explained that the profits made on the sale of the Q2 apartments will be realised in FY2018. Meanwhile, development works on the “The Centre” office block are now approaching completion with commencement of rental operations earmarked for Q4 2017. Following the sale of one whole floor, MIDI noted that all of the remaining floors are now practically rented out.
  • Likewise, Plaza Centres plc (31,763 shares) held on to the €1.04 level and PG plc retained its all-time high of €1.40 across 14,280 shares.

Responses are currently closed, but you can trackback from your own site.