Daily Market Highlights (01.12.2017)

  • The MSE Equity Price Index moved higher for the first time in the last three trading sessions as it advanced by 0.74% from its near fifteen-month low of 4,391.091 points to 4,423.520 points. Trading activity was limited to six shares only – four trended higher whilst RS2 eased minimally lower and MIA closed the day unchanged. Week-on-week, the local equity index posted the first gain of 0.08% following six consecutive weekly declines. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index halted a three-day negative streak as it rebounded strongly by 0.31% from an over one-week low of 1,125.680 points to an over three-week high of 1,129.225 points. Euro zone sovereign yields plummeted amid heightened uncertainty over the possible implementation of expansionary tax reforms in the US. Meanwhile, an index gauging the level of activity in the manufacturing sector across the euro area climbed to its highest level since April 2000. The RF MGS Index gained 0.17% week-on-week as the gains registered on Monday (+0.1%) and today outweighed the drops posted between Tuesday and Thursday (-0.24%).
  • Following yesterday’s decline of 3.3%, the equity of Bank of Valletta plc rebounded by 2.8% to recapture the €1.799 level across 94,646 shares. This morning, BOV announced that it has been informed that the nil-paid rights issued to UniCredit S.p.A. as part of the €150 million rights issue by BOV have been duly assigned. Eligible shareholders have until Wednesday 6 December 2017 to participate in the 1-for-4 rights issue at a price of €1.43 per share.
  • Within the same sector, HSBC Bank Malta plc gained 1.1% to regain the €1.86 level after recovering from a fresh 2017 low of €1.83 (-0.5%). A total of 80,095 shares traded.
  • Also among the large companies by market capitalisation, GO plc added 0.6% to the €3.55 level after opening lower at €3.52 (-0.3%). A total of 4,000 shares changed hands.
  • Plaza Centres plc recaptured the €1.02 level (+0.9%) albeit on light trading volumes.
  • RS2 Software plc slipped by a minimal 0.1% to the €1.52 level on five deals totalling 9,000 shares. On Monday, RS2 issued an Interim Directors’ Statement explaining the Group’s current and prospective international expansion strategy. It revealed the formation of an alliance with a large corporation that provides 42% of the global travel market as well as the conclusion of an agreement with a Middle Eastern company for a licence sale and its subsequent implementation. Overall, RS2 is expecting revenues for the current financial year ending 31 December 2017 to remain stable and comparable to 2016. Furthermore, the Group is expecting to maintain, and possibly marginally improve its profitability, over 2016. The Group also noted that its sales pipeline across the different regions and across the two business lines remains very healthy and conducive to successfully implementing the Group’s expansion strategy.
  • Meanwhile, Malta International Airport plc maintained the €4.65 level across 2,860 shares.