Daily Market Highlights (28.06.2018)

  • The MSE Equity Price Index ended virtually unchanged today near its lowest level in three weeks as the gains in MIDI and PG were offset by the declines in RS2, Malita and Main Street Complex. Meanwhile, BOV and IHI closed the day unchanged. No trading will take place tomorrow due to a public holiday. Download a copy of today’s Equity Market Summary.
  • Following the declines suffered in the previous three days, the RF MGS Index rebounded by 0.16% to 1,101.161 points as euro zone sovereign bond yields moved lower due to continued uncertainties related to global trade. On the economic front, most data published today pointed towards improved optimism. However, a note published by the European Central Bank warned about heightened downside risks to global activity and trade arising from the rise in protectionism, as well as “the possibility of a further tightening of global financial conditions, disruptions associated with China’s reform process and geopolitical uncertainties associated, in particular, with Brexit.”
  • PG plc added 0.8% to a one-month high of €1.33 on two deals totalling 10,000 shares.
  • The equity of MIDI plc extended its recent rally with a gain of a further 1.3% to the €0.476 level after partially easing from a new all-time high of €0.478. A total of 79,204 shares changed hands.
  • Within the same sector, Malita Investments plc lost 1.1% from its 2018 high of €0.875 to the €0.865 level across 11,000 shares.
  • Main Street Complex plc also trended negatively with a drop of 0.7% to the €0.67 level albeit on trivial volumes.
  • A single deal of 10,000 shares forced the equity of RS2 Software plc to move 0.8% lower back to the €1.24 level.
  • Also among the large caps, Bank of Valletta plc (22,901 shares) and International Hotel Investments plc (72,750 shares) ended flat at €1.73 and €0.66 respectively.