Daily Market Highlights (25.09.2017)

  • The MSE Equity Price Index opened the week in positive territory as it extended last Friday’s gains by a further 0.25% to a four-day high of 4,628.600 points. Trading activity was spread across eight equities – three trended higher, another three shares closed the day unchanged whilst only PG and Tigne’ Mall registered losses. Download a copy of today’s Equity Market Summary.
  • Following last Friday’s decline of 0.21% which was the sharpest in six days, the RF MGS Index lost a further 0.18% to a fresh over two-month low of 1,118.146 points today. Movements in euro zone sovereign yields were very volatile today following the result of parliamentary elections in Germany which saw Chancellor Merkel’s party win with a much-dented relative majority and the inclusion into Germany’s Bundestag of a far-right radical party. On the economic front, an index gauging the level of confidence among German businesses disappointed. Meanwhile, ECB President Mario Draghi was quoted as saying that economic expansion within the single currency area is now “firm and broad-based” but that a “very substantial degree of monetary accommodation is still needed for the upward inflation path to materialise”.
  • PG plc also finished the day in the red with a drop of 0.7% back to the €1.40 level after recording a new all-time high of €1.425. A total of 58,700 shares traded today. The Company is due to hold its first Annual General Meeting on 19 October 2017.
  • Malta International Airport plc climbed 1.6% to the €4.39 after briefly touching a new 2017 high of €4.40. A total of 6,132 shares changed hands.
  • Also among the large companies by market capitalisation, a single deal of 2,060 shares lifted the equity of GO plc 0.9% higher to the €3.54 level.
  • Bank of Valletta plc continued to trade within a tight range with a gain of 0.5% back to the €2.10 level on nine deals totalling 29,403 shares.
  • On the other hand, HSBC Bank Malta plc maintained the €1.901 level after retreating from an intra-day high of €1.919 (+0.9%). A total of 13,747 shares traded.
  • RS2 Software plc and Malta Properties Company plc closed flat at €1.735 and €0.503 respectively on trivial volumes.
  • Meanwhile, a single deal of 103,000 shares pulled the equity of Tigne’ Mall plc 1.8% lower to the €0.96 level.