Daily Market Highlights (17.09.2018)

  • The MSE Equity Price Index shed 0.77% to 4,308.803 points today, largely driven by the sharp decline in the share price of HSBC. On the other hand, MIA climbed to a fresh record high. Overall, thirteen equities were active during today’s session with volumes improving to a near three-week high of €0.46 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index opened the week in negative territory as it extended last Friday’s decline by a further 0.1% to a near two-week low of 1,086.474 points. Prices of Malta Government Stocks trended lower as eurozone sovereign yields gained further ground despite the increased uncertainties related to the imposition of additional trade tariffs on goods flowing between the US and China.
  • Positive sentiment towards Malta International Airport plc persisted as the equity added a further 0.8% to yet another record high of €5.95 on encouraging volumes totalling 25,114 shares, representing one-third of the total value of equities traded. Last week, Ryanair revealed the introduction of 10 new routes for its summer schedule in 2019. The Irish carrier also said that it is expecting to carry 3.1 million passengers to and from Malta next year, representing a growth of 15%.
  • Among the large companies, GO plc added 0.6% to a new five-month high of €3.56 across 8,469 shares.
  • Four deals totalling 38,188 shares lifted the equity of PG plc 2.2% higher to the €1.38 level.
  • In the property segment, MIDI plc recaptured its all-time high of €0.57 (+3.6%) on activity totalling 8,000 shares whilst Malta Properties Company plc advanced 1% to the €0.51 level across 36,000 shares.
  • In contrast, Tigne’ Mall plc slipped 4.5% back to the €0.955 level across 20,030 shares and Main Street Complex plc shed 3% to the €0.645 level albeit on trivial volumes.
  • Shallow activity also registered in Simonds Farsons Cisk plc which closed today’s trading session at the €7.00 level (-2.8%). Farsons is due to publish its interim results on Wednesday 19 September. The Board of Directors will also be considering the declaration of a dividend.
  • HSBC Bank Malta plc tumbled 5% to the €1.71 level on relatively light volumes totalling 14,483 shares.
  • Bank of Valletta plc also performed negatively today with a drop of 0.7% to the €1.47 level across 34,321 shares.
  • Meanwhile, a single deal of 22,300 shares left the equity of Lombard Bank Malta plc at its 2018 high of €2.42.
  • Malita Investments plc (34,799 shares) and Trident Estates plc (14,965 shares) also traded unchanged at the €0.87 and €1.34 levels respectively. Trident is due to publish its interim results on 26 September.