Daily Market Highlights (05.11.2018)

  • The MSE Equity Price Index edged minimally higher from its three-week low of 4,445.878 points (recorded last Friday) to 4,448.2015 points on the back of increases in FIMBank, Farsons and Trident. On the other hand, MIA slipped lower whilst nine equities ended the session unchanged. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index opened the week in negative territory as it slipped by 0.06% to 1,082.954 points. Malta Government Stock prices reflected movements in the yields of euro peripheral countries as these trended higher whilst the corresponding yields of German government bonds remained relatively unchanged. Overall, uncertainty continued to dominate financial markets ahead of the mid-term elections in the US as well as doubts on whether the US and China will reach an agreement over trade. On the economic front, an index gauging the level of confidence amongst investors across the single currency area dropped by much more than expected to a two-year low.
  • FIMBank plc added 1.3% to recapture the USD0.77 level across five deals totalling 15,980 shares.
  • Similarly, Simonds Farsons Cisk plc moved 1.3% higher to close today’s session at the €8.10 level across a single trade of 167 shares.
  • The only other positive performing equity was Trident Estates plc with a 7.2% jump to €1.49 on volumes of 28,731 shares.
  • On the other hand, Malta International Airport plc retreated by 1.6% back to the €6.10 level on just 400 shares.
  • Meanwhile, Bank of Valletta plc failed to hold on to an intra-day high of €1.35 and ended today’s session unchanged at the €1.34 level across eleven deals totalling 63,907 shares.
  • Also in the financial sector, HSBC Bank Malta plc maintained the €1.75 level and Mapfre Middlesea plc retained the €1.93 level albeit on shallow volumes.
  • GO plc also closed the session unchanged at €4.00 level on volumes of 4,500 shares. Last week, GO issued an explanatory circular related to the Extraordinary General Meeting (“EGM”) which is scheduled for Monday 3 December 2018. The EGM will be held in relation to the proposed sale of up to 49% of GO’s shareholding in BMIT Technologies plc through an Initial Public Offering. Shareholders of GO as at close of trading on 31 October 2018 will be receiving notice of the EGM as well as a copy of the explanatory circular.
  • In the property sector, MIDI plc held on to the €0.72 level on volumes of 70,286 shares. Likewise, Malita Investments plc, Santumas Shareholdings plc and Malta Properties Company plc also closed unchanged on much lower volumes.
  • A single deal of 900 shares of PG plc was executed at the €1.36 level, also representing no change from the previous closing price.