Daily Market Highlights (07.05.2018)

  • The MSE Equity Price Index opened the week in negative territory as it slipped by 0.2% to 4,296.375 points, reflecting the declines in seven equities whilst only BOV and MIDI trended higher today. Meanwhile, GO, HSBC and Malita all closed the day unchanged. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index shed 0.12% today from its fourteen-week high of 1,120.284 points, reflecting gains in peripheral bond yields as uncertainties grew over the possibility that Italy goes to the polls again following the inconclusive elections which took place in early March.
  • The worst performing equity today was Medserv plc which fell by 4.5% to a fresh 2018 low of €1.05 on two deals totalling 15,000 shares. Last week, the oil and gas services company revealed its financial performance for 2017 and also issued a detailed Interim Report in which it provided details of its growing pipeline of business. Moreover, Medserv announced the intention of its two major shareholders to source a strategic purchaser.
  • RS2 Software plc retracted by 3.1% back to the €1.26 level across 12,000 shares. Shareholders as at close of trading on 16 May will be entitled to a net dividend of €0.0146 per share.
  • Malta International Airport plc eased by 0.4% to the €4.82 level on a total of 13,655 shares. Today, MIA published the April traffic results showing an 11.4% increase in passenger movements to nearly 600,000 passenger movements. The airport operator also explained that although the seat capacity increased by 18.5%, the seat load factor remained just above the 80% level.
  • PG plc moved back to its 2018 low of €1.30 (-0.8%) across 54,000 shares.
  • GlobalCapital plc, MaltaPost plc and Lombard Bank Malta plc also trended lower today albeit on insignificant volumes. GlobalCapital lost 3% to €0.32 whilst the declines in MaltaPost and Lombard were more muted as the equities dropped by 1.1% and 0.8% to €1.78 and €2.34 respectively. The postal operator is due to publish its interim results on Wednesday 16 May.
  • In contrast, Bank of Valletta plc and MIDI plc both gained 0.6% to €1.74 and €0.36 respectively. The bank is scheduled to hold its Annual General Meeting (“AGM”) on Thursday 10 May.
  • Meanwhile, a single deal of just 1,445 shares left the equity of HSBC Bank Malta plc at the €1.73 level.
  • GO plc and Malita Investments plc also traded unchanged at €3.46 and €0.845 respectively. GO’s AGM is scheduled to be held on 14 May.