Daily Market Highlights (05.02.2018)

  • The MSE Equity Price Index opened the week in positive territory as it added 0.37% to an over three-week high of 4,480.301 points. Today’s gains reflect the increases in the share prices of four large companies (BOV, MIA, GO and RS2) as well as the 1.3% jump in Trident Estates plc which moved to the €1.55 level across 33,590 shares. Only two equities performed negatively today (IHI and Tigne’ Mall) whilst a further four shares closed the day unchanged. Download a copy of today’s Equity Market Summary.
  • Following last Friday’s rebound of 0.12%, the RF MGS Index resumed its recent negative trend today as it dropped by 0.25% to a near eleven-month low of 1,109.187 points. Euro zone sovereign yields were mixed amid lingering uncertainties over the prospects that further monetary policy tightening by the world’s major central banks could derail stability in financial markets. On the economic front, an index gauging the level of confidence among purchasing managers in the manufacturing and services sectors across the single currency area rose to the highest level since June 2006. Meanwhile, in Germany, coalition negotiations over the weekend between the CDU/CSU alliance led by Angela Merkel and the Social Democratic Party (“SPD”) failed to produce the formation of a new government. Although talks between the two sides is now expected to resume, any agreement needs also to be ratified by the SPD party members.
  • Bank of Valletta plc recaptured the €1.82 level (+0.6%) on volumes totalling 10,090 shares.
  • Malta International Airport plc surged by 2.5% to the €4.88 level albeit on trivial volumes.
  • The other positive performing equities today were GO plc and RS2 Software plc. GO advanced by 1.1% to the €3.60 level across 27,510 shares whilst five deals totalling 20,200 shares lifted the equity of RS2 back to the €1.42 level (+1.4%).
  • Also among the large companies by market capitalisation, HSBC Bank Malta plc maintained the €1.79 level across 4,115 shares.
  • Three deals totalling 10,000 shares left the equity of PG plc at the €1.35 level. Today, the company announced that its fully-owned subsidiary PG Developments Limited acquired the property that is commonly known as the “United Macaroni Factory” which is located in Qormi Road, Marsa. The property covers an area of around 3,200 sqm and the value of the transaction is €3.5 million. PG intends to develop this property into commercial premises, principally consisting of office space for rent. Development applications are expected to be submitted to the Planning Authority in the near future.
  • MaltaPost plc held on to its over three-month low of €1.91 on insignificant volumes and Plaza Centres plc also ended flat at the €1.02 level across 25,000 shares.
  • In contrast, Tigne’ Mall plc lost 1.9% to the €1.03 level on a single deal of just 2,000 shares.
  • International Hotel Investments plc shed 1.6% to the €0.63 level across 11,578 shares.