Daily Market Highlights (26.01.2018)

  • The MSE Equity Price Index erased most of the gains registered in the previous two trading sessions as it slipped by 0.34% to 4,463.118 points today, mostly reflecting the drops in the share prices of BOV (-1.1%) and HSBC (-1.7%) which outweighed the gains in Malta Properties and Mapfre Middlesea. Meanwhile, six equities closed the day unchanged. During the past five trading sessions, the local equity index extended the negative trend regaiteres in the previous two weeks (-0.9%) with a further 0.12% decline. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index tumbled by 0.22% to 1,117.705 points but still closed the week 0.15% higher. Euro zone sovereign yields were mostly higher today reflecting comments made by ECB Executive Board Member Benoît Cœuré in which he suggested that eurozone inflation may rise higher in the near term. In contrast, yesterday the ECB left its benchmark interest rate unchanged and also added that it expects interest rates “to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.” Moreover, the central bank pledged to continue buying €30 billion of assets a month until at least the end of September “or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation”.
  • Bank of Valletta plc retreated by 1.1% back to the €1.81 level on continued healthy activity totalling 122,849 shares.
  • Also in the retail banking sector, a single deal of just 1,483 shares forced the equity of HSBC Bank Malta plc to move 1.7% lower back to the €1.76 level.
  • Following last Wednesday’s surge of 7.8%, the equity of Medserv plc eased by 0.8% to the €1.24 level across 8,000 shares today. On Tuesday, the oil and gas services company revealed that it has secured a new three-year contract with the option of further extensions for the provision of integrated logistics support services for the production phase of offshore operations being conducted by an International Oil Company. The new contract was awarded through a competitive tender process and is effective as from 1 January 2018. The initial value of the contract is estimated to be over €10 million with prospects for further growth.
  • In the property segment, Tigne’ Mall plc dropped by 0.9% to the €1.05 level across 37,800 shares.
  • In contrast, Malta Properties Company plc surged by 15.5% to the €0.515 level on ten deals totalling 101,080 shares.
  • The other positive performing equity today was Mapfre Middlesea plc which added 0.6% to regain the €1.79 level on 18,000 shares.
  • Meanwhile, International Hotel Investments plc, Malta International Airport plc and MaltaPost plc traded unchanged at the €0.62, €4.90 and €1.99 levels respectively on trivial volumes. The postal operator is scheduled to hold its Annual General Meeting on 9 February 2018.
  • RS2 Software plc maintained the €1.43 level after recovering from its near nine-month low of €1.40 across a total of 73,454 shares.
  • On the other hand, GO plc failed to hold on to its intra-day high of €3.54 (+0.6%) as the equity ended the day flat at the €3.52 level on volumes totalling 10,110 shares.
  • Two deals of 6,062 shares left the equity of Santumas Shareholdings plc at the €1.50 level.