Daily Market Highlights (29.08.14)

  • The MSE Share Index eased minimally lower today to 3,295.511 points on the back of marginal declines in BOV, GO and Malita which offset the gains in Lombard and RS2 Software. Meanwhile, no changes in the other four active equities including HSBC, Farsons, IHI and Crimsonwing. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index advanced for the eighth successive session with a further 0.1% uplift to yet another fresh high of 1,077.417 points. This contrasts with the marginal rebound in Eurozone yields to just above the 0.9% level as investors were relieved that the reading for Eurozone’s inflation was not worse than expected. Nonetheless, it is important to highlight that inflation in the 8-nation region still fell to a 5-year low of 0.3%. Investors now await next week’s monetary policy meeting of the European Central Bank (ECB) following pledges to inject more stimulus if inflation falls.
  • The share price of RS2 Software advanced by 1.1% to a fresh all-time high of €2.75 across seven deals totalling 33,502 shares. Today’s uplift follows the publication of the 2014 interim results which clearly showed the increasing level of business activity at RS2. Furthermore, the Directors confirmed that whilst further substantial investment in its infrastructure and business development is required, they maintain a positive outlook for the year. Further details on the results are available here.
  • The only other positive performing equity today was Lombard Bank with a 0.6% increase to €1.56 on volumes of 40,000 shares.
  • On the other hand, following a two-day positive run, the share price of GO eased minimally lower to €2.489 on heightened activity totalling 40,000 shares.
  • A marginal movement was also seen in BOV as the banking equity retreated by 0.2% to €2.155 across seven trades totalling 19,800 shares.
  • The only other negative performing equity was Malita Investments with a 1.8% drop to €0.54 on volumes of almost 51,000 shares.
  • Meanwhile, no change was registered in the share price of HSBC at the €2.00 level on low volumes of 5,000 shares.
  • Similarly, IHI ended this morning’s session unchanged at the €0.64 level after recovering from its all-time low of €0.62 across a total of 12,802 shares.
  • Simonds Farsons Cisk shares held on to the €2.70 level across 8,853 shares.
  • A single trade of 10,000 Crimsonwing shares was executed at the €0.81 level.