Daily Market Highlights (03.10.2017)

Following the gains registered in the previous seven trading sessions, the MSE Equity Price Index slumped by 0.92% to 4,664.520 points – the third sharpest daily negative performance of the year. Out of the eleven shares traded, seven trended lower, two closed the day unchanged and another two edged higher. Download a copy of Equity Market Summary.

The RF MGS Index moved higher for the third consecutive day as it added a further 0.06% to 1,120.519 points. Yields across the single currency area continued to be supported by positive investor sentiment and expectations that the US Federal Reserve will increase interest rates again in December. On the economic front, producer prices in the euro zone increased by 2.5% year-on-year in August – the sharpest rate of increase in three months.

Amongst the large companies by market capitalisation, BOV, HSBC, MIA and GO all posted declines today. Bank of Valletta plc (14,350 shares) and HSBC Bank Malta plc (20,310 shares) fell by 0.2% and 1.8% back to the €2.10 and €1.90 levels respectively.

Malta International Airport plc retreated by 0.9% from its 2017 high of €4.50 to the €4.46 level across 11,280 shares whilst five deals totalling 8,000 shares pulled the equity of GO plc 3.5% lower to the €3.455 level.

All the other active equities traded on very light volumes. In the insurance sector, Mapfre Middlesea plc and GlobalCapital plc shed 4.9% and 2.7% to €1.844 and €0.321 respectively.

MaltaPost plc dropped 3.9% to the €1.902 level on a single deal of 2,545 shares whilst Lombard Bank Malta plc – the postal operator’s parent company – maintained the €2.20 level on just 500 shares.

International Hotel Investments plc also ended the day unchanged at the €0.60 level on insignificant volumes.

Meanwhile, PG plc rebounded by 1.6% to the €1.499 level on activity of 5,150 shares and Malta Properties Company plc advanced by a minimal 0.2% to the €0.507 level across 8,000 shares.