Daily Market Highlights (16.10.2014)

  • The MSE Share Index advanced by 0.2% to 3,323.447 points as both BOV and IHI  partly recovered from recent declines. Meanwhile, FIMBank and MIA share prices declined, while the share price of Medserv, GO and Malita Investments closed unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index rose to yet another all-time high of 1,094.038 points as the Central Bank of Malta stockbroker increased its bid prices markedly of all medium and long-term Malta Government Stocks in reaction to the continued decline in eurozone yields which dropped to new lows of 0.716% earlier on today.
  • Earlier this week the Treasury announced the issue of 2 new institutional tranches of Malta Government Stocks for a total aggregate amount of €40 million with an over-allotment option of a further €35 million which are only available through an auction process for a minimum of €250,000 per application and in multiples of €50,000. Applications in the form of sealed bids will be accepted until noon on Friday 24 October.
  • The share price of Bank of Valletta plc gained a further 0.9% to close at the €2.25 level on volumes of 18,314 shares. Earlier this week, BOV’s equity had declined to a low of €2.19. Investors now await the publication of the results of the Asset Quality Review by the European Central Bank on 26 October and the publication of the September 2014 full-year financial statements by BOV on Friday 31 October. Meanwhile, HSBC Bank Malta plc remained inactive despite new buyers entering the market above the last traded price of €1.93.
  • Following the 0.8% drop to a new all-time low of €0.595 yesterday, International Hotel Investments plc regained the €0.60 level on a single trade of only 3,828 shares.
  • Malta International Airport plc shed 0.9% to the €2.32 level on activity of 6,400 shares. The other negative performer of the day was FIMBank plc with a 1.5% decline to the USD0.65 level.
  • Three other equities closed the day unchanged. Medserv plc maintained yesterday’s 1.5% gain as a further 50,800 shares traded at the €1.32 level. GO plc traded again at the multi-year high of €2.68 on very low volumes of 361 shares. Reuters yesterday reported that Greece’s largest telecoms group ΟΤΕ secured a deal to broadcast all UEFA Champions League and UEFA Europa League matches for three years from July 2015 as it seeks to boost its Pay-TV market share. A few months ago, OTE had submitted an offer to acquire Forthnet’s Pay-TV business Nova for €250 to €300 million.
  • Elsewhere, Malita Investments plc maintained its all-time high of €0.56 as a further 10,000 shares traded at this level.