Daily Market Highlights (25.01.2019)

  • The MSE Equity Price Index advanced for the third consecutive day as it added a further 0.37% to 4,426.798 points. Activity was buoyant as €1.19 million worth of shares traded, largely driven by strong volumes in PG, HSBC, Malita, GO and MIA. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved higher for the fifth consecutive day as it added a further 0.14% to a fresh six-month high of 1,104.981 points. Bond yields in the euro area remained under downward pressure following comments made yesterday by ECB President Mario Draghi that indicated a higher degree of cautiousness towards further monetary policy tightening. In addition, ECB Executive Board Member Mr Benoît Cœuré was today reported as saying that the recent weakness in economic activity across the euro area “has surprised us” and that the ECB is still in the process of “understanding the nature of the shock.” Similarly, the Governor of Banque de France (France’s central bank) today said that the ECB remains “committed to maintaining interest rates very low” and that the central bank will “take the time it takes” to withdraw monetary stimulus.
  • Positive sentiment towards Malta International Airport plc persisted further as the equity advanced by another 1.6% to regain the €6.20 level across 18,261 shares. Last week, MIA issued its 2019 passenger forecast and financial targets indicating another record performance. The airport operator also reiterated its plans on various multi-million capital investments including the expansion of the terminal building, a new apron, the parking village as well as SkyParks II.
  • GO plc climbed 1.4% to its highest level in several years of €4.20 on strong volumes totalling 35,210 shares.
  • Also among the large companies, RS2 Software plc (59,528 shares) and International Hotel Investments plc (31,569 shares) added 1.4% and 1.7% to €1.40 and €0.60 respectively.
  • In the property segment, four deals totalling 168,810 shares lifted the equity of Malita Investments plc 1.1% higher back to the €0.89 level.
  • On the other hand, Malta Properties Company plc, MIDI plc and Main Street Complex plc all trended in negative territory today. MPC lost 1% to the €0.52 level on 89,200 shares. A single deal of 40,000 shares forced the equity of MIDI to move 1.5% lower to the €0.65 level whilst Main Street Complex shed 2.3% to €0.63 albeit on trivial volumes.
  • Bank of Valletta plc continued to trade within a tight range as the equity retreated by 0.8% to the €1.29 level on 67,030 shares.
  • Within the same segment, FIMBank plc (32,300 shares) and HSBC Bank Malta plc (105,666 shares) traded flat at USD0.70 and €1.76 respectively.
  • Medserv plc maintained the €1.06 level after opening at a low of €1.02 (-3.8%). A total of 78,911 shares changed hands.
  • PG plc held on to the €1.33 level on strong volumes totalling 148,272 shares.
  • Simonds Farsons Cisk plc retained the €8.00 level on 3,743 shares.
  • MaltaPost plc also closed unchanged at the €1.30 level albeit on shallow volumes.