Daily Market Highlights (22.10.2018)

  • The MSE Equity Price Index eased by 0.15% to 4,527.870 points today, mostly driven by the drop in the share price of HSBC which, coupled with the declines in three other shares, outweighed the gains in BOV and MIDI. Meanwhile, another four shares closed the day unchanged on overall trading volumes of €0.37 million. Download copy of today’s Equity Market Summary.
  • The RF MGS Index opened the week in positive territory as it advanced by 0.13% to 1,080.401 points. Malta Government Stock prices gained as the spreads between the yields of bonds of peripheral countries over the German counterparts tightened considerably. This took place as Italian Prime Minister Giuseppe Conte reassured markets that his government’s plan of running a budget deficit of 2.4% of GDP in 2019 is a “ceiling”. Nonetheless, as the proposed budget of Italy is not in line with the EU Stability and Growth Pact, the European Commission still needs to decide on how to proceed with it.
  • Tigné Mall plc lost 1.1% to a fresh 2018 low of €0.92 across 40,000 shares.
  • HSBC Bank Malta plc moved 1.6% lower from its two-month high of €1.83 back to the €1.80 level on activity totalling 10,137 shares.
  • A single deal of just 2,000 shares forced the equity of Medserv plc to retreat by 0.9% to €1.06. 
  • Low trading activity also took place in Mapfre Middlesea plc and MIDI plc. The insurance specialist eased by 0.5% to the €1.92 level whilst MIDI moved closer to its all-time high of €0.735 as the equity added 0.7% to €0.73.
  • Bank of Valletta plc also gained 0.7% to recapture the €1.37 level on strong volumes totalling 147,111 shares.
  • Meanwhile, four equites traded unchanged today. PG plc held on to the €1.40 level across 13,000 shares.
  • In the property segment, Main Street Complex plc retained its IPO price of €0.65 across 40,000 shares whilst seven deals totalling 68,298 shares left the equity of Malta Properties Company plc at its near two-year high of €0.58.
  • Trident Estates plc also closed the day flat at the €1.35 level on light volumes totalling 7,500 shares.