Daily Market Highlights (20.10.2017)

  • The MSE Equity Price Index trended lower for the first time in the last four trading sessions as it slipped by 0.61% from its over two-week high of 4,702.922 points to an over one-week low of 4,674.207 points. Trading activity was spread across nine equities whereby six posted declines whilst the remaining three closed the day unchanged. During the past five trading sessions, the MSE Equity Price Index lost 0.13% largely due to the 2.4% weekly decline in the share price of HSBC. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index extended yesterday’s drop of 0.35% by a further 0.25% to 1,121.053 points. Euro zone sovereign yields surged today after the US Senate passed a budget vote which could potentially lead to the introduction of expansionary tax reform. The latter was one of Donald Trump’s key electoral pledges and, if successfully implemented, could lead to significant budget deficits in the future. Ahead of next Thursday’s ECB monetary policy meeting, the RF MGS Index lost 0.27% during the past five days as the drops suffered yesterday and today outweighed the gains registered during the first three days of the week.
  • HSBC Bank Malta plc lost 2.3% to the €1.855 level on two deals totalling 5,822 shares.
  • Also in the retail banking sector, Bank of Valletta plc halted a three-day positive streak as it retreated by 0.5% to the €2.10 level across 55,735 shares. Yesterday, the Bank announced that its Board of Directors is scheduled to meet on Thursday 26 October 2017 to consider and approve the second set of interim financial statements covering the twelve-month period from 1 October 2016 to 30 September 2017.
  • Also among the large companies by market capitalisation, Malta International Airport plc shed 0.4% to the €4.68 level on six deals totalling 6,400 shares whilst RS2 Software plc eased by a minimal 0.1% to €1.679 across 17,600 shares.
  • Malta Properties Company plc declined by 0.8% to the €0.504 level across 36,000 shares and PG plc shed 2.3% back to the €1.46 level albeit on trivial volumes. Yesterday, PG held its first Annual General Meeting whereby shareholders approved the FY2016/17 Annual Report as well as the appointment of the company’s auditors.
  • Low trading activity also took place in the equities of GO plc and International Hotel Investments plc which maintained the €3.59 and €0.614 levels respectively. Yesterday, GO announced the resignation of its Chief Finance Officer with effect from 31 January 2018.
  • Lombard Bank Malta plc also closed the day unchanged at the €2.20 level across 19,248 shares.