Daily Market Highlights (11.10.2017)

  • The MSE Equity Price Index extended yesterday’s decline of 0.27% by a further 0.52% to a two-week low of 4,640.135 points, largely driven by the 2.6% drop in the share price of HSBC Bank Malta plc to a fresh 2017 low of €1.85 across 12,069 shares. Download a copy of today’s Equity Market Summary.
  • Following yesterday’s drop of 0.2%, the RF MGS Index rebounded by 0.06% today to 1,121.189 points. Euro zone sovereign yields were mostly higher as worries over the Catalan secession from Spain receded after the Catalonian president did not declare independence for his region. Instead, Mr Puigdemont affirmed that he will be “seeking the mandate” for secession and invited Madrid for dialogue. On the economic front, the German economy ministry lifted its GDP growth forecast to 2% this year (the strongest growth rate since 2011) which is considerably higher than the previous forecast of +1.5%. The economy ministry also raised its GDP growth forecast for 2018 to 1.9% from the previous projection of +1.6%. Nonetheless, inflation in Germany is expected to remain below the ECB’s target of close to 2% as it is now being expected to reach 1.8% this year but drop to 1.6% in 2018.
  • Over 80% of today’s total trading activity took place in the equity of Bank of Valletta plc which slipped by 0.4% back to the €2.10 level on robust volumes totalling 241,235 shares.
  • PG plc lost 2.7% to the €1.45 level on two deals totalling 6,900 shares.
  • The best performing equity today was Malta Properties Company plc which surged by 4.1% to recapture the €0.53 level across 26,170 shares.
  • GO plc erased some of yesterday’s decline as it rebounded by 0.3% to the €3.472 level across 8,502 shares.
  • Santumas Shareholding plc regained the €2.20 level (+1.1%) across 10,766 shares and MaltaPost plc advanced by 0.9% to the €1.921 level albeit on trivial volumes. The postal operator is due to publish its FY2016/17 full-year results on Monday 11 December 2017.
  • Meanwhile, Simonds Farsons Cisk plc retained the €9.47 level on a single deal of 1,381 shares.
  • Following yesterday’s drop of 0.2%, the RF MGS Index rebounded by 0.06% today to 1,121.189 points. Euro zone sovereign yields were mostly higher as worries over the Catalan secession from Spain receded after the Catalonian president did not declare independence for his region. Instead, Mr Puigdemont affirmed that he will be “seeking the mandate” for secession and invited Madrid for dialogue. On the economic front, the German economy ministry lifted its GDP growth forecast to 2% this year (the strongest growth rate since 2011) which is considerably higher than the previous forecast of +1.5%. The economy ministry also raised its GDP growth forecast for 2018 to 1.9% from the previous projection of +1.6%. Nonetheless, inflation in Germany is expected to remain below the ECB’s target of close to 2% as it is now being expected to reach 1.8% this year but drop to 1.6% in 2018.