Daily Market Highlights (04.07.2017)

  • The MSE Share Index closed today’s trading session virtually unchanged as the gains in the share prices of RS2 (+1.4%), BOV and MIA (+0.2%) were offset by the declines in HSBC (-1%), Malita (-0.7%) and PG (-0.1%). Trading volumes improved to a three-day high of €0.44 million. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index trended lower for the fourth consecutive day as euro zone sovereign yields remained at their recent highs despite disappointing producer prices data within the single currency area. Meanwhile, the chief economist of the European Central Bank was reported as saying today that a continued recovery in inflation is “crucially contingent” on low borrowing costs and, in turn, on easy monetary policy.
  • RS2 Software plc registered its tenth consecutive daily uplift after it recovered from an intra-day low of €1.718. The equity closed today’s session 1.4% higher at yet another 2017 high of €1.75 on healthy volumes totalling 101,000 shares.
  • The equities of Bank of Valletta plc (43,281 shares) and Malta International Airport plc (21,676 shares) each gained 0.2% to close at the €2.185 and €4.13 levels respectively. The airport operator is expected to publish its June traffic results and the updated forecast for 2017 in the coming weeks.
  • In contrast, HSBC Bank Malta plc slipped 1% back to the €2.05 level across 18,100 shares.
  • A single deal of 50,000 shares forced the equity of Malita Investments plc 0.7% lower to the €0.735 level. Last week, Malita announced that it has entered into two credit facility agreements amounting to €53.7 million. These funds will be used to finance the construction of 680 affordable housing units in Malta.
  • PG plc eased 0.1% to the €1.299 level on light volumes totalling 1,490 shares.
  • Low trading activity also took place in the equities of International Hotel Investments plc and Plaza Centres plc which maintained the €0.61 and €1.00 levels respectively. Plaza is expected to reveal its half-year results on 19 July.