Daily Market Highlights (24.11.2017)

  • Yesterday’s rebound of 0.48% in the MSE Equity Price Index was short-lived as the index plunged by 1.34% to a thirteen-month low of 4,419.769 points today. The drops in the share prices of BOV and GO outweighed the gains in MIA and MIDI. Meanwhile, four other equities closed the day unchanged. Week-on-week, the MSE Equity Price Index lost 1.26% and also registered its sixth consecutive weekly decline. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index extended yesterday’s decline of 0.05% by a further 0.1% to 1,127.313 points. Euro zone sovereign yields drifted higher today as an index gauging the current and expected level of confidence amongst German businesses rose to an all-time high. Week-on-week, the RF MGS Index advanced by 0.37% as the gains registered between Monday and Wednesday outweighed the declines suffered on Thursday and today. On Wednesday, the Index reached a near two-week high of 1,129.014 points (+0.52%) before retreating.
  • After surging by 5.3% yesterday to recapture the €1.90 level, the equity of Bank of Valletta plc tumbled by 6% to the €1.786 level on volumes totalling 159,654 shares.
  • GO plc retreated by 2.4% to the €3.515 level albeit on a single deal of just 1,540 shares.
  • Also among the large companies by market capitalisation, Malta International Airport plc advanced by 0.2% to regain the €4.60 level across 1,270 shares.
  • MIDI plc climbed 0.3% to a fresh over eight-month high of €0.34 on volumes totalling 69,000 shares.
  • On the other hand, Malta Properties Company plc maintained the €0.50 level after recovering from a fresh twenty-three-month low of €0.483. A total of 9,040 shares traded.
  • In the retail banking sector, HSBC Bank Malta plc (5,199 shares) and Lombard Bank Malta plc (4,883 shares) traded unchanged at the €1.86 and €2.20 levels respectively. On Monday, HSBC issued an Interim Directors’ Statement in which it warned the market on continued downward pressure on its profitability levels. On the other hand, the Bank reiterated that its regulatory capital ratios strengthened further and remain above the fully-loaded capital requirements. In this respect, the Bank has now commenced a review to assess how best to deploy this capital moving forward.
  • A single deal of 700 shares left the equity of Simonds Farsons Cisk plc at the €8.76 level.