Daily Market Highlights (01.09.16)

  • The MSE Share Index trended higher for the third consecutive session with a further 0.5% increase to 4,461.445 points as most of the active equities edged higher today. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index slipped almost 0.2% lower to 1,167.829 points as the benchmark 10-year German Bund yield rebounded to the -0.04% level. Similarly, the Italian and Spanish 10-year yields jumped 6 and 8 basis points to 1.166% and 1.046% respectively. The rebound was triggered by Spain’s confidence vote in acting Prime Minister Mariano Rajoy who failed to obtain a majority and therefore the country is now facing the possibility of a third election in a year unless Mr Rajoy manages to garner enough votes in a repeat vote tomorrow.
  • Most notably, HSBC Bank Malta plc advanced for the third successive session with a further 1.2% increase to €1.58 across three deals totalling 14,150 shares. The Bank is scheduled to pay the recently declared gross interim dividend of €0.071 per share (net: €0.0462) on 9 September.
  • The share price of GO plc added another 0.7% to recapture the €3.12 level across two deals totalling 17,000 shares.
  • Positive movements were also registered in the share price of International Hotel Investments plc as it moved 3.9% higher to regain the €0.64 level on a single trade of 2,000 shares.
  • Medserv plc moved back into positive territory with a 0.7% rise to regain the €1.51 level across eight deals totalling 47,557 shares.
  • The only other positive performing equity was Tigne Mall plc with a 6.1% jump to the €1.04 level although on just 100 shares.
  • On the other hand, the share price of RS2 Software plc retreated by a further 2.7% back to the €1.80 level on volumes of 17,000 shares.
  • Meanwhile, Bank of Valletta plc maintained the €2.25 level across 10,700 shares and Simonds Farsons Cisk plc held on to its all-time high of €6.50 on a single trade of 1,000 shares.
  • Similarly, the equity of MIDI plc traded unchanged at the €0.35 level across 777 shares only. Yesterday evening, the Group published its 2016 interim results revealing a loss of €0.86 million due to the lack of apartments available for sale. The Directors noted that the Group is expected to register a loss for the whole of 2016. The announcement also indicated that the Q2 residential apartments should be completed in the first half of 2018 while the business centre is targeted to open next year. With respect to Manoel Island, the Group appointed Foster + Partners to draw up a conceptual master plan for this project.
  • The only other active equity today was Grand Harbour Marina plc as it held on to the €0.89 level across two deals totalling 2,500 shares. Yesterday, the Company published its 2016 interim results revealing a pre-tax profit of €0.35 million compared to €0.08 million in the first six months of 2015. The higher profitability is largely due to the operational improvements achieved at both marinas (Malta & Turkey). However, the Group did not register any berth sales and does not envisage any sales in the near future. The Directors declared a net interim dividend of €0.024 per share to all shareholders as at the close of trading next Monday 5 September.

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