Daily Market Highlights (06.10.2017)

  • The MSE Equity Price Index retreated by 0.11% to 4,677.164 points today as the declines in the share prices of RS2, MIA and MaltaPost outweighed the gains in BOV, GO and Lombard. Following last week’s strong rebound of 1.66% which was the sharpest uplift in eleven months, the MSE Equity Price Index slipped by 0.35%during the past five trading sessions. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index resumed its recent upward trend today as it rebounded by 0.08% to 1,120.060 points. Euro zone sovereign yields were mostly higher today except for those in Spain as the Spanish central government and the region of Catalonia appear to be exploring ways of achieving reconciliation after last Sunday’s violent crackdown on demonstrations. Weak-on-weak, the RF MGS Index trended higher for the first time in the last five weeks as it added 0.16%, possibly reflecting the very recent upgrade of Malta’s long-term outlook by S&P to “Positive” from “Stable”.
  • Just over half of today’s trading activity took place in Bank of Valletta plc which climbed by 0.3% to the €2.107 level on healthy volumes totalling 61,242 shares.
  • Within the same sector, Lombard Bank Malta plc advanced by 3.6% to a one-month high of €2.28 albeit on thin volumes of just 1,000 shares.
  • GO plc gained a minimal 0.1% to the €3.515 level across 5,800 shares. Today, the company issued an announcement explaining that following the investments totalling €240 million during the past decade, the Group plans to investment around €100 million over the next five years. The investments include the upgrading of its two submarine cables that connect Malta with mainland Europe via Sicily (which are nearing completion). GO also announced that it is evaluating the feasibility of creating a new link through an existing submarine cable which currently links Tunis with Marseille.
  • Also among the large companies by market capitalisation, two deals totalling 9,146 shares pulled the equity of RS2 Software plc 2% lower back to the €1.70 level.
  • Malta International Airport plc eased by 1.1% from yesterday’s close of €4.60 to the €4.55 level after briefly touching a new 2017 high of €4.649. A total of 12,491 shares changed hands.
  • The worst performing equity today was MaltaPost plc which lost 2.4% to the €1.904 level across 2,674 shares.
  • Meanwhile, HSBC Bank Malta plc (4,606 shares) and Simonds Farsons Cisk plc (600 shares) closed unchanged at €1.90 and €9.47 respectively.