Daily Market Highlights (02.10.2017)

  • The MSE Equity Price Index commenced the month of October in positive territory as it added 0.3% (the seventh consecutive daily positive performance) to a two-month high of 4,707.804 points. Ten equities traded today but over 80% of the total value traded was spread across two equities only – Medserv and BOV. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index extended the strong gains registered last Friday as today it added a further 0.14% to reach a one-week high of 1,119.825 points. The indicative bid prices of the Central Bank of Malta for Malta Government Stocks were adjusted higher today despite the downward pressure on euro zone sovereign bond prices, possibly reflecting the upgrade of Malta’s long-term outlook by S&P to “Positive” from “Stable” over the weekend. Overall, movements across bond markets continued to be very volatile amid several developments across the world, including political instability in Spain, the issuance of further supportive economic data within the single currency area as well as political manoeuvres in the US pertaining to the possible introduction of pro-business tax reforms and the replacement of the US Federal Reserve chairperson.
  • Medserv plc surged 5% to recapture the €1.26 level across 51,040 shares and Bank of Valletta plc regained the €2.105 level (+1.7%) on six deals totalling 27,000 shares.
  • Malta International Airport plc reached a fresh 2017 high of €4.50 (+0.9%) albeit on insignificant volumes.
  • Low trading activity also took place in the equities of two other large companies by market capitalisation which, in contrast, trended lower. A single deal of just 450 shares forced the share price of GO plc 0.3% lower to the €3.58 level.
  • International Hotel Investments plc retreated by 0.8% back to the €0.60 level across 7,800 shares.
  • PG plc dropped by 1.7% from its record high of €1.50 to the €1.475 level on 3,550 shares.
  • In the property segment, Malta Properties Company plc shed 2.5% to move back to the €0.506 level on thin volumes whilst MIDI plc (3,000 shares) and Tigne’ Mall plc (8,500 shares) maintained the €0.31 and €0.96 levels respectively.
  • The only other active equity was HSBC Bank Malta plc which closed the day unchanged at the €1.935 level across 1,290 shares.