Daily Market Highlights (13.07.2018)

  • The MSE Equity Price Index added 0.01% to 4,373.845 points, reflecting the gains in Trident and MPC whilst a further five equities closed the day unchanged. Trading activity remained muted as only €0.12 million worth of shares changed hands. Throughout this week, the local equity index shed 0.5%, mostly driven by the declines in the share prices of IHI and Lombard which, in aggregate, saw their market capitalisation fall by more than €40 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index partially erased yesterday’s sharp decline as it rebounded by 0.13% to 1,104.295 points. Euro zone sovereign bonds yields drifted lower amid lingering concerns over global trade as well as uncertainties over when the ECB will raise interest rates from the current record low levels. Overall, during the past five days, the RF MGS Index added 0.1% amid heightened volatility in bond yields.
  • Today’s trading activity was centred around Bank of Valletta plc which maintained the €1.76 level after failing to hold on to a fresh three-month high of €1.78 (+1.1%). A total of 29,607 shares traded. The bank’s interim financial statements as at 30 June 2018 should be published in the coming weeks.
  • Also among the large caps, HSBC Bank Malta plc (15,659 shares) and GO plc (5,822 shares) ended flat at €1.85 and €3.44 respectively. HSBC is set to publish its interim results on 6 August.
  • Two deals totalling 10,540 shares left the equity of PG plc at the €1.33 level. The company should be publishing its April 2018 annual financial statements by the end of August.
  • Meanwhile, very low trading activity took place in the equities of Mapfre Middlesea plc, Trident Estates plc and Malta Properties Company plc. The insurance specialist retained the €1.90 level whilst both Trident (€1.30) and MPC (€0.492) registered some modest gains.