Daily Market Highlights (17.07.2018)

  • The MSE Equity Price Index erased yesterday’s decline as it rebounded by 0.26% to 4,374.236 points. Trading volumes improved to a five-day high of €0.38 million, mostly due to strong activity in the equity of Malta International Airport plc which moved back to the €5.05 level on volumes of 38,550 shares. MIA is due to publish its interim results on 25 July. The airport operator will also consider the payment of an interim dividend. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index trended lower for the first time in three days as it slipped by 0.07% to 1,103.580 points, mostly reflecting a notable increase in the yields of German government bonds whilst those of peripheral countries trended lower. Meanwhile, in stark contrast to the recent trade disputes between the US and China, the European Union and Japan agreed to create the world’s largest open economic area that includes the dismantling of a number of trade barriers.
  • HSBC Bank Malta plc ended today’s trading session in negative territory as the equity slipped by 0.3% to the €1.83 level on two deals totalling 5,191 shares. HSBC is set to publish its interim results on 6 August.
  • In the property segment, Malta Properties Company plc shed 2.4% to the €0.48 level across 187,111 shares.
  • On the other hand, MIDI plc rebounded by 1.3% to the €0.486 level on 22,000 shares.
  • Simonds Farsons Cisk plc extended its recent positive trend as the equity added a further 0.7% to a fresh five-month high of €7.30 on two deals totalling 5,508 shares. Yesterday, Farsons published an updated Financial Analysis Summary. This shows that the company is expecting EBITDA to reach yet another record level of €22.4 million in the current financial year ending 31 January 2019. On the other hand, Farsons is forecasting a slight drop in net profits to €13.2 million mostly due to higher depreciation and administrative costs.
  • Mapfre Middlesea plc surged by 4.7% to the €1.99 level across 5,026 shares. Next Friday, the insurance specialist is scheduled to kick-start this year’s interim reporting season as the company will be the first to unveil its financial performance for the six-month period to 30 June 2018.
  • The other positive performing equities today were GlobalCapital plc and International Hotel Investments plc which closed the day at €0.30 (+7.1%) and €0.615 (+0.8%) respectively albeit on trivial volumes.
  • Meanwhile, Bank of Valletta plc retained the €1.75 level across 7,030 shares. The bank is soon expected to announce the date for the publication of interim financial statements as at 30 June 2018.
  • PG plc (3,900 shares) and Plaza Centres plc (5,290 shares) traded flat at €1.33 and €1.04 respectively. Plaza’s interim results will be issued on 24 July whilst PG should be publishing its April 2018 annual financial statements by the end of August.