Daily Market Highlights (25.09.15)

  • The MSE Share Index advanced by a further 0.5% to reach a new 7-year high of 4,344.035 points as three of the index heavyweights all moved higher. Volumes surged as close to €400,000 worth of equities changed hands this morning. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index dropped 0.15% to 1,127.222 points as the benchmark 10-year German Bund yield surged to touch the 0.66% level as equity markets cherished comments made from America’s Federal Reserve Chairwoman during a public speech. Ms Janet Yellen said that she expects the Fed to raise its benchmark interest rate later on this year on improved inflationary expectations and an upbeat US economic outlook. This sent bond prices lower with the 10-year German Bund yield rising towards the level at the start of the week.
  • International Hotel Investments plc was the day’s top performer as fresh demand emerged after yesterday’s announcement that, subject to obtaining the necessary approvals, it shall be distributing a bonus share issue of 3 new shares for every 100 shares held to shareholders as at close of trading on 13 October. IHI’s share price climbed by 2.6% to the €0.80 level across 19,000 shares. IHI was also the best performer this week.
  • GO plc recovered all the losses suffered earlier this week and ended the session up 1% at the €3.455 level on encouraging volumes of 33,760 shares. The Company will be holding an Extraordinary General Meeting on 29 October during which shareholders will be asked to authorise the Board of Directors to seek bids for the entire issue share capital of GO plc.
  • The most actively traded equity today was Bank of Valletta plc with 71,306 shares changing hands. The share price edged up 0.8% to close at the €2.349 level and briefly touched the €2.35 level for the first time since early May. Next week marks the end of the Bank’s financial year.
  • Meanwhile three other equities traded negatively while Plaza Centres plc closed the day unchanged at €0.98 across 80,000 shares.
  • Also in the property sector, Tigne’ Mall plc was the worst performer as the equity lost 2.0% to close at the €0.91 level on a single deal of 5,000 shares.
  • Low volumes were also registered in RS2 Software plc and Malta International Airport plc. A single deal in RS2 sent the equity down 0.4% to the €2.51 level. Likewise, MIA edged marginally lower to the €3.88 level on weak volumes of 3,000 shares.