Daily Market Highlights

Jun 27, 2017

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  • The MSE Share Index erased most of yesterday’s decline as it rebounded by 0.29% to 4,680.762 points during today’s session, largely reflecting the gains in the share prices of RS2 (+2.7%) and HSBC (+1.1%) which offset the drops in BOV (-0.2%), MIA (-0.8%) and PG (-0.3%). Download a copy of today’s Equity Market Summary.
  • Following yesterday’s minimal decline of 0.04%, the RF MGS Index inched 0.03% higher today. Euro zone sovereign yields were slightly higher this morning when compared to yesterday’s levels. However, yields surged considerably higher after ECB President Mario Draghi stated that the central bank might begin reducing its stimulus programme as economic prospects in Europe improve. Nonetheless, he reiterated that any change in the bank’s monetary policy would be gradual as “considerable” monetary support is still needed with core inflation remaining below the target level of close but below the 2% level.
  • Most of today’s trading activity took place in the equity of RS2 Software plc which climbed 2.7% to its highest level since early January 2017 of €1.69 (marginally below its 2017 high of €1.698) on strong volumes totalling 123,635 shares – representing 57% of the €0.36 million worth that traded today.
  • Medserv plc also continued to recover from its recent declines as it added a further 1.1% to recapture the €1.30 level across 9,500 shares
  • A single deal of just 3,000 shares lifted the equity of Santumas Shareholdings plc to yet another record high of €2.00.
  • In the retail banking sector, HSBC Bank Malta plc advanced 1.1% to regain the €2.075 level on three deals totalling 6,275 shares.
  • On the other hand, Bank of Valletta plc moved back to the €2.18 level (-0.2%) across 43,290 shares. Yesterday, the Bank announced the change in its accounting year end from 30 September to 31 December. Consequently, the current financial year 2017 will, exceptionally, have a duration of fifteen months covering the period from 1 October 2016 to 31 December 2017. Nonetheless, by the end of October 2017, BOV will still issue its financial statements to 30 September 2017. Thereafter, the preliminary statement of financial results for the full fifteen-month period from 1 October 2016 to 31 December 2017 will be published by end of March 2018. The Bank revealed that the payment of any further dividend for the current financial year will be based on the results of the full fifteen-month financial period ending 31 December 2017.
  • Malta International Airport plc also trended in negative territory today at it slipped 0.8% back to the €4.10 level albeit on shallow volumes totalling 927 shares.
  • PG plc continued to trade within a tight range as the equity eased by 0.3% to the €1.295 level across 10,300 shares.
  • A single deal of 16,666 shares left the equity of Malita Investments plc unchanged at the €0.74 level.