Daily Market Highlights (19.09.2018)

  • The MSE Equity Price Index climbed 0.84% to 4,346.228 points as various equities ended the day in positive territory whilst only Mapfre Middlesea trended lower. Meanwhile, trading in GO continued to dominate activity as it accounted for nearly 60% of the total value of equities traded. Download a copy of today’s Equity Market Summary.
  • Yesterday’s rebound in the prices of Malta Government Stocks was short-lived as the RF MGS Index retreated by 0.12% to a four-year low of 1,085.985 points. Eurozone sovereign yields trended sharply higher, with the 10-year German Bund yield momentarily reaching a three-month high of just above 0.5%, as yesterday’s escalation in the trade war between the US and China is now causing additional fear of higher global inflation in the months ahead. This could force major central banks, particularly the US Federal Reserve and the European Central Bank, to accelerate monetary policy tightening.
  • GO plc added 1.1% to recapture its 2018 high of €3.60 on activity totalling 84,501 shares.
  • Similarly, PG plc also moved to its 2018 high of €1.40 albeit on light volumes.
  • Malta International Airport plc advanced by 1.7% to regain its all-time high of €5.95 across 11,489 shares whilst two deals totalling 3,642 shares lifted the equity of HSBC Bank Malta plc 2.3% higher to the €1.75 level.
  • FIMBank plc added 2.6% to an over five-month high of USD0.595 on a single deal of 21,000 shares.
  • In the property segment, Tigne’ Mall plc advanced 3.7% to the €0.99 level across 20,000 shares.
  • On the other hand, MIDI plc (3,000 shares) and Trident Estates plc (6,081 shares) closed flat at €0.57 and €1.34 respectively. Trident is due to publish its interim results on 26 September.
  • Simonds Farsons Cisk plc also traded unchanged at the €7.10 level across 4,316 shares. This afternoon, Farsons published its interim results as at 31 July 2018. The company reported growth across all of its business segments, helping net profits to rise by almost 7% to €6.11 million compared to €5.72 million in the first half of the previous financial year. The Directors declared an unchanged net interim dividend of €0.0333 per share which is payable on 10 October to shareholders as at close of trading on 24 September.
  • Bank of Valletta plc retained the €1.48 level across 46,951 shares whilst BOV’s insurance associate – Mapfre Middlesea plc – lost 0.5% to the €1.84 level on just 1,152 shares.