Daily Market Highlights (05.10.2018)

  • The MSE Equity Price Index extended its recent run with a further gain of 0.23% to a six-month high of 4,421.507 points, reflecting the gains in HSBC and FIMBank which outweighed the drops in MIA and MIDI. Meanwhile, five equities closed the day unchanged whilst trading volumes contracted to €0.28 million compared to €0.65 million yesterday. Download a copy of today’s Equity Market Summary.
  • Prices of Malta Government Stocks remained under downward pressure, pushing the RF MGS Index to a new four-year low of 1,082.531 points (-0.09%). Sovereign bonds yields in the euro area added to their recent strong gains (bond prices fell), boosted by expectations that the US Federal Reserve will continue raising interest rates in the coming months as well as positive economic data in Germany related to factory orders and producer prices. During the past five days, the RF MGS Index lost 0.17% and also recorded its fourth consecutive weekly decline.
  • Four deals totalling 9,941 shares lifted the equity of HSBC Bank Malta plc 1.7% higher back to the €1.81 level.
  • FIMBank plc moved further closer to its 2018 high of USD0.69 as it added 1.5% to the USD0.67 level across 91,000 shares.
  • In contrast, Malta International Airport plc eased by 0.8% to the €6.20 level on activity totalling 3,854 shares. Today, MIA announced the September traffic results revealing a 12.8% increase in passenger movements to a record of 706,814 passengers. The announcement also noted that during July, August and September, the airport operator registered 2.2 million passenger movements – a record for this period and representing an 11.4% increase over the corresponding period last year. From January to September this year, MIA welcomed over 5.29 million passengers, representing an increase of 14.2% over the previous corresponding period.
  • MIDI plc lost 0.9% to end the week at the €0.56 level albeit on trivial volumes.
  • Low trading activity also took place in the equity of RS2 Software plc which maintained a level of €1.15.
  • GO plc retained the €3.84 level after retreating from a fresh multi-year high of €3.86 across 13,808 shares. On Wednesday, GO announced that subject to shareholders’ approval, it will be seeking to dispose of up to 49% of its shareholding in BMIT Group through an initial public offering. In this respect, GO also added that through this sale, it will be seeking to raise up to €49 million. These proceeds are earmarked to deliver returns to shareholders.
  • Bank of Valletta plc maintained its six-year low of €1.40 across 30,252 shares.
  • A single deal of 40,375 shares left the equity of Malita Investments plc unchanged at the €0.87 level whilst PG plc held on to its 2018 high of €1.40 across 28,485 shares.