Daily Market Highlights (03.01.17)

  • The MSE Share Index kick-started the new year on a positive note as it advanced by 0.07% to a fresh near nine-year high of 4,634.077 points today. Trading was spread across seven equities, with three registering gains whilst BOV and GO closed the day slightly lower. Volumes declined to €0.21 million – the lowest in the last eight trading sessions. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index started the year on a negative note as it extended last Friday’s drop by a further 0.30% to a near two-week low of 1,150.371 points. The 10-year benchmark German Bund yesterday hit a low of 0.152% (the lowest since Mr Donald Trump won the US Presidency), but surged to an intra-day high of 0.264% today. The strong upturn in yields materialised after preliminary estimates pointed to a strong pick-up in German inflation during the month of December. The inflation data from five federal states showed that prices had increased by at least 1.7% year-on-year at the end of 2016 – the highest level in more than three years and close to the European Central Bank’s inflation target of close but below the 2% mark. Meanwhile, the price of oil continued to recover, further strengthening inflationary expectations.
  • The most actively traded equity was Bank of Valletta plc which retreated to the €2.25 level across 56,695 shares – representing 60% of the total value of equites traded today. The equity will continue trading with the entitlement to the 1 for 13 bonus issue until 12 January 2017.
  • GO plc declined 0.3% to the €3.26 level on trivial volumes.
  • Also among the large companies, positive sentiment towards RS2 Software plc persisted as the equity advanced by a further 1.0% to the €1.839 level on volumes totalling 23,638 shares.
  • Grand Harbour Marina plc traded for the first time in two months, with the equity jumping 3.7% to a ten-month high of €0.901 across 7,200 shares.
  • A single deal of just 4,000 shares lifted the equity of Malta Properties Company plc 0.8% higher to the €0.595 level.
  • Meanwhile, Malta International Airport plc continued to trade within a tight range and maintained the €4.05 level across 6,024 shares whilst MIDI plc held on to its four-month high of €0.351 on volumes totalling 15,000 shares.