Daily Market Highlights (30.09.15)

  • The MSE Share Index eased 0.17% lower to 4,333.534 points as the positive performance of four equities was outweighed by the decline in HSBC. Trading volumes once again remained subdued possibly as a result of the current bond offerings. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index remained virtually unchanged at 1,130.243 points as the benchmark 10-year German Bund yield remained relatively stable despite rumours that the European Central Bank might extend its QE programme.
  • Last Friday, the Treasury announced the issue of two Malta Government Stocks for a total aggregate amount of €120 million subject to an over-allotment option of up to a further €60 million. The two new offerings are the 2.00% MGS 2020 (V) FI, which today traded unchanged at 106.33%, and the 2.30% MGS 2029 (II) FI, which today traded slightly higher at 102.99%. The offer prices will be determined tomorrow afternoon and subscriptions will open next Monday 5 October.
  • Meanwhile, following the publication of a Prospectus by Hili Properties plc in connection with a new €37 million unsecured bond issue at a coupon rate of 4.5% per annum, Hili Ventures Group bondholders have until Monday 5 October 2015 to submit any applications whilst the subscription period for the General Public opens on Wednesday 7 October 2015.
  • HSBC Bank Malta plc ended the session 1.6% lower at the €1.80 level across 10,739 shares.
  • The only other negative performer of the day was Medserv plc as the equity eased by 0.2% from its all-time high of €3.10. Only two deals took place totalling 2,650 shares at the €3.095 level. The oil and gas services company will be holding an Extraordinary General Meeting on 12 October.
  • Meanwhile, all other equities performed positively with the exception of International Hotel Investments plc and Mapfre Middlesea plc which ended unchanged at €0.80 and €2.279 respectively on insignificant volumes.
  • Bank of Valletta plc continued to edge higher with an increase of a further 0.4% to the €2.37 level across 15,594 shares. BOV generally publishes its preliminary full-year results by the end of October. Recently, the Bank also announced that it lodged an application with the Listing Authority for a subordinated debt issuance programme of a maximum of €150 million over the next twelve months. Further details will be issued in the Prospectus and Final Terms once approval is granted.
  • In anticipation of the publication of its interim financial results, Simonds Farsons Cisk plc also performed positively, as the equity traded up 0.2% to a new all-time high of €5.611 albeit on just 863 shares. The market capitalisation of the food and beverages company has more than doubled during the past twelve months. The July 2015 interim results published after the close of the session showed that during the period under review, the Group registered another positive performance with profits after tax rising by 14% to €4.6 million. Farsons will be distributing an unchanged net interim dividend of €0.0333 per share. This will be paid on Tuesday 20 October 2015 to all shareholders as at close of trading on the 2 October 2015.
  • GO plc moved 0.1% higher to the €3.459 level across 14,500 shares whilst a single deal of 2,500 shares of Malta International Airport plc sent the equity marginally higher to €3.851.