Daily Market Highlights (03.05.2017)

  • The MSE Share Index posted gains for the first time in the last four trading sessions as it advanced by 0.42% from its near four-month low of 4,647.080 points to 4,666.441 points. Trading activity was spread across six equities: three performed positively, two closed flat whilst only BOV registered a decline. Trading volumes improved notably as €0.54 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index rebounded strongly from yesterday’s drop of 0.13% as it bounced back by 0.27% to a one-week high of 1,123.205 points. Euro zone sovereign yields retracted today (bond prices gained) amid the issuance of some disappointing economic data both in the single currency area as well as in the US. Indeed, whilst gross domestic product growth in the euro economy remained at 1.7% in the first quarter of this year, month-on-month producer prices fell into negative territory in March for the first time since August 2016. On the other side of the Atlantic, factory activity slowed in April while an important inflation measure fell on a monthly basis for the first time since 2001. Meanwhile, most financial analysts are expecting the US Federal Reserve to keep its interest rates unchanged during its monetary policy meeting to be held today.
  • The most actively traded equity was RS2 Software plc which, in contrast to the recent declines, today jumped 6.2% higher to the €1.55 level across a total of 164,178 shares having a market value of €0.24 million. Shareholders as at close of trading on 17 May 2017 are eligible to a final net dividend of €0.01 per share as well as bonus share issue of one share for every twelve shares held.
  • Similarly, amongst the large companies by market capitalisation, HSBC Bank Malta plc recaptured the €2.00 level (+1%) on encouraging volumes totalling 73,109 shares.
  • A single deal of 33,020 shares lifted the equity of Malta Properties Company plc 0.6% higher to the €0.52 level. MPC is due to hold its Annual General Meeting (AGM) on 25 May 2017.
  • In contrast, Bank of Valletta plc slipped 0.4% lower back to the €2.24 level across 49,917 shares. Shareholders as at 9 May 2017 will be eligible to receive a net interim dividend of €0.0293 per share. Last week, the Bank confirmed its intention of seeking to raise €150 million in fresh equity capital within a 12-month period.
  • Meanwhile, Malta International Airport plc (1,300 shares) and Medserv plc (10,300 shares) maintained the €4.15 and €1.45 levels respectively. MIA is soon expected to reveal the traffic statistics for the month of April.
  • This afternoon, the Malta Stock Exchange announced that, following the recent Initial Public Offering, 108 million shares of PG plc have been admitted to the Official List. Trading in PG plc shares is expected to commence tomorrow, Thursday 4 May 2017.