Daily Market Highlights (05.12.2017)

  • The MSE Equity Price Index rebounded by 0.5% from its over two-year low of 4,382.024 points to 4,403.741 points today, largely driven by the 6.7% surge in the share price of International Hotel Investments plc which recaptured the €0.62 level albeit on two deals of just 7,236 shares. Trading activity on the local equity market was weak as only €0.16 million worth of shares changed hands today. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index posted a three-day positive streak as it added a further 0.09% to a near four-week high of 1,131.263 points. The indicative opening bid prices of the Central Bank of Malta for the Malta Government Stocks issued last February – i.e. 1.50% MGS 2027 I (issued at 100.5%) and the 2.20% MGS 2035 I (issued at 100.25%) – reached new record highs of 103.97% and 105.87% respectively. Euro zone sovereign yields moved lower today (bond prices gained) amid the issuance of some disappointing economic data within the single currency area. In fact, retail sales advanced by a worse-than-expected 0.4% year-on-year in October – the slowest pace of growth since March 2014. Moreover, an index gauging the level of confidence among purchasing managers in the manufacturing and services sectors (“PMI”) in Germany slipped slightly lower in November. On the other hand, the PMI in all of the euro area stayed flat whilst in France it advanced to an all-time high.
  • Most of today’s trading activity took place in the equity of Bank of Valletta plc which eased by a further 0.6% to a near three-year low of €1.74 across 62,707 shares. Last Friday, BOV announced that it has been informed that the nil-paid rights issued to UniCredit S.p.A. as part of the €150 million rights issue have been duly assigned. Eligible shareholders have until tomorrow to participate in the 1-for-4 rights issue at a price of €1.43 per share.
  • Within the same sector, HSBC Bank Malta plc retreated by 0.6% to a near fourteen-month low of €1.79 on volumes totalling 7,042 shares.
  • Malta Properties Company plc extended its recent negative trend as the equity lost a further 1.7% to €0.46 (the lowest closing price for this equity) across 37,000 shares.
  • Meanwhile, GO plc regained the €3.58 level (+0.8%) on two deals totalling 3,276 shares.
  • A single deal of 1,100 shares lifted the equity of Malta International Airport plc 0.4% higher to the €4.66 level whilst Grand Harbour Marina plc surged 5.1% from its all-time low of €0.726 to the €0.763 level albeit on trivial volumes.
  • Today, PG plc announced that its Board of Directors resolved to distribute a net interim dividend of €0.01574 per share. This dividend will be paid on 11 December 2017 to all shareholders as at close of trading on Wednesday 29 November 2017. The Company is expected to reveal its interim results on Wednesday 20 December 2017.