Daily Market Highlights (15.11.2018)

  • The MSE Equity Price Index eased by a minimal 0.04% to 4,482.448 points as the decline in the share price of BOV marginally outpaced the gain in HSBC. Meanwhile, four other equities closed the day unchanged amid a quiet trading session on the local Borza today. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved lower for the third consecutive day as it slipped by a further 0.05% to an over three-week low of 1,081.063 points. Malta Government Stock prices suffered further declines as the spreads between the yields of euro peripheral countries and the corresponding yields of German counterparts continued to widen amid persistent higher perceived risks across global equity markets as well as renewed uncertainties related to Brexit.
  •  Bank of Valletta plc dropped 0.7% to the €1.33 level across 4,870 shares.
  • On the other hand, HSBC Bank Malta plc regained the €1.80 level (+0.6%) on activity totalling 14,778 shares. Last Friday, HSBC issued an Interim Directors’ Statement updating the market on its performance from January to September 2018. The bank noted that pre-tax profits were lower when compared to the first nine months of 2017 reflecting downward pressure on revenue and higher costs. On the other hand, the bank noted that from a regulatory perspective, its capital ratios continued to exceed requirements and that it will soon provide an update on its medium-term capital plan.
  • Also among the large companies, International Hotel Investments plc maintained the €0.60 level on six deals totalling 64,926 shares.
  • MaltaPost plc and Simonds Farsons Cisk plc traded unchanged at €1.62 and €8.10 respectively on shallow volumes.
  • Trident Estates plc retained the €1.50 level after failing to hold on to an intra-day high of €1.55 (+3.3%). A total of 26,203 shares changed hands.