Daily Market Highlights

June 14, 2019

MSE Equity Price Index climbs to over 11-year high

The MSE Equity Price Index climbed almost 1% higher to reach an over 11-year high of 4,874.376 points led by gains in the share prices of IHI, Farsons and RS2. On the other hand, BOV, Medserv and PG trended lower today whilst a further six equities ended the day unchanged. Trading activity remained subdued with just €0.13 million worth of shares changing hands. Over the week, the MSE Equity Price Index moved 1.3% higher on the back of the positively weekly movements registered in GO, IHI and Farsons. Download today’s Equity Market Summary.

During today’s trading session, the equity of International Hotel Investments plc moved 3.7% higher to recapture the €0.85 level across five deals totalling 5,610 shares. Following approval at yesterday’s AGM, a net dividend of €0.02 per share is payable to shareholders as at close of trading on Wednesday 26 June 2019.

Similarly, RS2 Software plc trended in positive territory today as it ended 0.7% higher at the €1.40 level after rebounding from an intra-day low of €1.40 on total volumes of 41,758 shares. RS2 will be holding its AGM on 18 June.

Simonds Farsons Cisk plc climbed by 14.1% to regain the €10.50 level albeit on three deals totalling 1,900 shares.

On the other hand, Bank of Valletta plc eased by 0.8% back to the €1.26 level across 3,896 shares.

Likewise, Medserv plc retreated by 0.9% back to the €1.12 level after only partially rebounding from an intra-day low of €1.10 across a total of 8,352 shares.

The only other negative performing equity was PG plc as it slid by 3.7% to the €1.58 level on shallow volumes of 4,583 shares.

Meanwhile, Malta International Airport plc maintained the €7.45 level (1,700 shares) and GO plc retained its 6-week high of €4.58 (380 shares).

HSBC Bank Malta plc traded unchanged at €1.62 on shallow volumes of 2,767 shares.

BMIT Technologies plc continued to trade at the €0.545 level (5,544 shares). On Tuesday, BMIT announced that it will be convening an extraordinary general meeting on 6 August to approve the proposed acquisition of the data centre located in Handaq, Qormi, for a price of €4 million.

Similarly, in the property segment, Malta Properties Company plc held on to the €0.63 level on a single deal of 600 shares.

Tigné Mall plc maintained the €0.91 level on volumes of 5,000 shares. Shareholders as at close of trading on 18 June will be eligible to receive a final net dividend of €0.0131 per share.

The RF MGS Index trended higher for the third consecutive day as it added a further 0.11% to a two-year high of 1,133.612 points. Various prices of Malta Government Stocks reached new all-time highs as the benchmark German Bund yield recorded a new all-time low of minus 0.27% today amid mounting expectations that the European Central Bank  will either have to reintroduce the purchase of securities falling under the Asset Purchase Programme and/or slash interest rates even further into record low negative territory in the months ahead.