Daily Market Highlights

Oct 17, 2018

  • Following the strong gains registered in the past five days, the MSE Equity Price Index eased by 0.12% today to 4,538.950 points, mostly driven by the 2.2% drop in the share price of BOV whilst GO, Lombard and Tigné’ Mall also trended lower. On the other hand, seven equities posted gains whilst IHI and MIDI ended the day unchanged. Trading activity remained particularly strong as a total of €0.61 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index erased yesterday’s decline as it surged by 0.37% to 1,082.964 points. Prices of MGS gained as sovereign bond yields in the eurozone dropped significantly amid various geo-political and economic uncertainties across financial markets. On the economic front, inflation within the single currency area was confirmed at 2.1% in September.
  • Bank of Valletta plc continued to remain volatile as the equity moved back to the €1.35 level (-2.2%) albeit on just 7,454 shares. The European Banking Authority is scheduled to publish the results of its various stress tests on major European banks including BOV by 2 November 2018.
  • Within the same sector, Lombard Bank Malta plc traded for the first time in nearly three weeks. The equity finished 0.8% lower at the €2.40 level across 8,023 shares.
  • GO plc eased by 0.5% from its twelve-year high of €4.10 to the €4.08 level on strong volumes totalling 48,000 shares. The company will be convening an extraordinary general meeting (“EGM”) on Monday 3 December 2018 in relation to the proposed sale of up to 49% of its shareholding in BMIT Technologies plc (“BMIT”) through an Initial Public Offering. In this respect, shareholders of GO as at close of trading on 31 October 2018 will be receiving notice of the EGM as well as a circular containing further details on the proposed partial sale of BMIT.
  • Three deals totalling 20,833 shares forced the equity of Tigné’ Mall plc to retreat by 2.6% back to its 2018 low of €0.93.
  • In contrast, Malta Properties Company plc climbed 0.9% to a fresh 2018 high of €0.58 across 114,650 shares.
  • Trident Estates plc also performed strongly today with a surge of 4.7% to the €1.35 level across 14,711 shares.
  • Positive sentiment towards FIMBank plc persisted as the equity posted a further uplift of 0.6% to USD0.79 after partially retreating from a fresh eighteen-month high of USD0.81. A total of 214,169 shares traded.
  • Malta International Airport plc regained the €6.25 level (+1.6%) across 2,700 shares whilst MaltaPost plc added 1.9% to the €1.64 level on activity totalling 5,600 shares.
  • Both GlobalCapital plc and Loqus Holdings plc posted double-digit gains to €0.30 and €0.055 respectively albeit on trivial volumes.
  • Low trading activity also took place in the equity of International Hotel Investments plc which maintained the €0.63 level.
  • MIDI plc held on to the €0.72 level across 120,600 shares.