Daily Market Highlights (02.08.2017)

  • The MSE Share Index rebounded by a minimal 0.05% to 4,703.364 points today from its thirteen-day low of yesterday. However, trading activity continued to be characterised by low volumes as only €0.08 million worth of shares changed hands – the lowest in over two months. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index extended yesterday’s rebound of 0.13% by a further 0.16% to a one-week high of 1,125.390 points as euro zone sovereign yields continued to lose some of their recent gains. Indeed, the benchmark 10-year German Bund yield recorded a near one-month low of 0.481% today from 0.53% yesterday. On the economic front, fresh data showed that producer prices within the single currency area jumped by a better-than-expected 2.5% year-on-year in June, but the increase was lower than the revised growth of +3.4% in the previous month.
  • PG plc advanced by 4.4% to a fresh all-time high of €1.399 on low activity of 5,810 shares. The company is expected to publish its 2016/17 financial statements by the end of this month.
  • Grand Harbour Marina plc rallied by 9% from its over ten-year low of €0.82 to the €0.894 level albeit on trivial volumes.
  • Low trading activity also took place in the equities of GO plc and International Hotel Investments plc which closed unchanged at €3.578 and €0.60 respectively. GO is due to reveal its six-month financial results on Friday 4 August.
  • Similarly, HSBC Bank Malta plc (4,003 shares) and Malta International Airport plc (2,850 shares) maintained the €2.05 and €4.20 levels respectively. Both equities are trading with the entitlement to the recently declared interim dividends.
  • Also among the large companies by market capitalisation, Bank of Valletta plc eased 0.3% to a near seven-month low of €2.144 across 18,155 shares whilst a single deal of 8,000 shares pushed the equity of RS2 Software plc 1% lower back to the €1.82 level.
  • Today, Simonds Farsons Cisk plc issued the formal notice in connection with the issuance of €20 million 3.5% unsecured bonds maturing in 2027. The equity remained inactive today.