Daily Market Highlights (05.07.2017)

  • The MSE Share Index rallied by 0.64% to an over three-month high of 4,724.823 points as various equities trended higher, including four of the largest companies by market capitalisation – RS2 (+2.3%), HSBC (+1.5%), BOV (+0.7%) and MIA (0.5%). On the other hand, only Grand Harbour Marina plc moved lower with a drop of 0.1% to the €0.895 level on a single deal of just 6,700 shares. Meanwhile, five other shares closed the day unchanged. Trading volumes improved further to a four-day high of €0.65 million. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index trended lower for the fifth consecutive day to a near two-month low of 1,120.989 points as euro zone sovereign yields remained at their recent highs supported by further strong economic data within the single currency area and ahead of the publication of the minutes of the last monetary policy meeting of the US Federal Reserve later today.
  • RS2 Software plc registered its eleventh consecutive daily uplift with a further gain of 2.3% to a fresh 2017 high of €1.79 across 52,417 shares.
  • In the retail banking sector, ten deals totalling 31,064 shares lifted the equity of Bank of Valletta plc 0.7% higher to the €2.20 level whilst HSBC Bank Malta plc recaptured the €2.08 level (+1.5%) albeit on light volumes.
  • Trading activity in Malta International Airport plc intensified ahead of the publication of the June traffic results and the updated traffic forecasts for 2017 which are expected to be revealed in the coming days. The equity advanced 0.5% to regain the €4.15 level on strong volumes totalling 55,250 shares.
  • Malita Investments plc regained the €0.74 level (+0.7%) across 25,600 shares. Last week, the Company announced that it entered into two credit facility agreements amounting to €53.7 million. These funds will be used to finance the construction of 680 housing units in Malta in partnership with the Government.
  • PG plc climbed 1.6% to an all-time high of €1.32 across 38,200 shares.
  • Meanwhile, another five equities closed unchanged. International Hotel Investments plc maintained the €0.61 level after recovering from an intra-day low of €0.60 (-1.6%). A total of 104,965 shares changed hands.
  • Similarly, GO plc held on to the €3.47 level after rebounding from an intra-day low of €3.40 (-2%) across 22,130 shares.
  • Medserv plc retained its near two-month high of €1.30 across 23,500 shares.
  • Mapfre Middlesea plc and Plaza Centres plc also traded unchanged at €1.86 and €1.00 respectively on insignificant volumes. Plaza is expected to reveal its half-year results on 19 July whilst the insurance specialist will do the same on 21 July.
  • Tomorrow trading is expected to commence in the newly listed €40 million 5% Mediterranean Investments Holding plc 2022 bonds.