Daily Market Highlights (05.02.2019)

  • The MSE Equity Price Index reached a new three-week high as it added a further 0.05% to 4,456.754 points. Today’s gain was mostly driven by IHI and GO. On the other hand, five equities trended lower whilst a further three shares closed the day unchanged. Trading activity dropped markedly to just €0.16 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved slightly higher to 1,103.437 points, largely reflecting movements in Italian government bonds whilst most bond prices of other euro area nations trended lower. On the economic front, fresh readings of indices gauging the level of sentiment among purchasing managers were encouraging.
  • A single deal of 1,300 shares lifted the equity of GO plc to a fresh multi-year high of €4.30 (+0.5%).
  • MaltaPost plc advanced 0.8% to the €1.28 level across 14,950 shares.
  • International Hotel Investments plc surged 3.3% to regain the €0.62 level albeit on just 6,652 shares. Yesterday, IHI announced that it will be taking a minority stake in a company together with a consortium of investors which is acquiring a landmark property in Moscow, Russia. The property will be converted into a luxury Corinthia Hotel & Residences project.
  • Also among the large companies, Bank of Valletta plc, HSBC Bank Malta plc and Malta International Airport plc all traded unchanged today. BOV maintained the €1.28 level on 10,000 shares whilst HSBC stayed at its four-month low of €1.72 across 12,223 shares. In contrast, MIA retained its recent high of €6.35 on shallow volumes.
  • Meanwhile, PG plc eased by 1.5% back to the €1.31 level across 21,630 shares.
  • Medserv plc and Simonds Farsons Cisk plc also performed negatively today. Medserv lost 1.8% to the €1.10 level across 8,816 shares whilst Farsons retracted to the €8.00 level (-3%) on volumes of 3,750 shares.
  • In the property segment, two deals totalling 14,700 shares forced the equity of Trident Estates plc to drop by 3.7% to the €1.31 level.
  • Malta Properties Company plc shed 1% to €0.515 albeit on trivial activity.