Daily Market Highlights (29.01.2019)

  • The MSE Equity Price Index trended higher for the fifth consecutive day as it added a further 0.11% to a two-week high of 4,433.361 points. Activity was shallow as only €0.09 million worth of shares changed hands whilst most of today’s trading took place in MIA. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index erased yesterday’s decline as it rebounded by 0.05% to a fresh six-month high of 1,105.006 points. Prices of Malta Government Stocks trended higher after ECB President Mr Mario Draghi yesterday reiterated that the central bank will maintain a cautious approach when it comes to further monetary policy tightening. Meanwhile, doubts on whether the US and China will reach an agreement over trade remerged after the US announced criminal charges against Chinese tech-behemoth Huawei. Furthermore, the US Federal Reserve began its two-day monetary policy meeting during which it is expected to maintain interest rates unchanged.
  • Malta International Airport plc advanced 0.8% to regain its two-month high of €6.25 across 9,800 shares.
  • Grand Harbour Marina plc rose 1.7% to the €0.61 level albeit on just 4,000 shares.
  • A single deal of 1,100 shares lifted the equity of Malita Investments plc 1.1% higher back to the €0.90 level.
  • Within the same segment, MIDI plc maintained the €0.66 level across 1,500 shares.
  • Similarly, GO plc (€4.20), HSBC Bank Malta plc (€1.73) and International Hotel Investments plc (€0.60) all closed unchanged on trivial volumes.
  • Also among the large companies, RS2 Software plc held on to its ten-month high of €1.47 across 10,000 shares.
  • PG plc opened at a high of €1.34 (+0.8%) but still closed flat at the €1.33 level on a total of 9,100 shares.