Daily Market Highlights (29.09.2017)

  • Bullish sentiment across the local equity market persisted as the MSE Equity Price Index trended higher for the sixth consecutive day with an increase of a further 0.12% to a six-week high of 4,693.592 points. Trading activity amounted to over €0.29 million across thirteen shares. Week-on-week, the Index surged by 1.66% – the sharpest uplift since late October 2016. Download a copy of today’s Equity Market Summary.
  • Following yesterday’s sharpest decline in two months of 0.32%, the RF MGS Index rebounded strongly with a gain of 0.33% from an eleven-week low of 1,114.613 points to 1,118.284 points. Euro zone sovereign yields dropped significantly today (bond prices rose) amid disappointing inflationary data for the month of September in France and Italy (the second and third largest economies within the single currency area respectively) and the whole of the euro zone. In Germany, retail sales data were relatively negative although the unemployment rate eased further to 5.6% in September – the lowest level since the German reunification.
  • Over 40% of today’s trading activity took place in Bank of Valletta plc which lost 1.4% to a one-month low of €2.07 across 56,958 shares.
  • Two deals totalling 2,499 shares pulled the equity of Simonds Farsons Cisk plc minimally lower from its all-time high of €9.501 to the €9.50 level.
  • MaltaPost plc retreated by 1% back to the €1.98 level on light volumes of just 1,240 shares.
  • In the property segment, Malita Investments plc eased by 0.5% to the €0.741 level across 66,923 shares whilst Malta Properties Company plc jumped 3.2% to the €0.519 level albeit on trivial volumes.
  • Low trading activity also took place in Mapfre Middlesea plc which advanced by 0.1% to the €1.939 level.
  • The equities of four of the large companies posted gains today. RS2 Software plc rebounded by 2.1% to the €1.735 level across 7,500 shares whilst four deals totalling 5,925 shares lifted the equity of Malta International Airport plc to a new 2017 high of €4.46.
  • HSBC Bank Malta plc advanced 1.3% to the €1.935 level across 10,000 shares.
  • GO plc also performed positively today with a gain of 0.3% back to the €3.59 level albeit on low volumes totalling 1,900 shares.
  • Meanwhile, International Hotel Investments plc (5,000 shares) and Lombard Bank Malta plc (1,895 shares) closed flat at €0.605 and €2.20 respectively.
  • PG plc retained its all-time high of €1.50 across 13,260 shares.