Daily Market Highlights (06.10.16)

  • Following the declines of the previous two trading sessions, the MSE Share Index today rebounded by 0.23% to 4,476.007 points reflecting the gains in the share prices of BOV and GO which outweighed the declines in RS2 and Farsons. Trading activity weakened considerably from yesterday’s one-week high of €0.41 million as only €0.12 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index moved lower for the sixth consecutive day as it retreated by a further 0.18% to a two-week low of 1,168.615 points. Euro zone sovereign bond yields experienced heightened volatility since yesterday. The 10-year benchmark German Bund yell fell to -0.037% from -0.029% yesterday after hitting 0%. On the economic front, fresh data showed that German factory orders rose more-than-expected in September to a seasonally adjusted 1.0% from 0.3% in the preceding month. Analysts had expected an improvement of only 0.2%. Meanwhile, an account of the European Central Bank’s (ECB) monetary policy meeting which took place early last September revealed that ECB President Mr Mario Draghi has the support of the bank’s Governing Council should he wish to extend the €80 billion-a-month quantitative easing programme currently scheduled to end in March next year. The ECB’s Governing Council agreed the QE programme would run until “March 2017, or beyond, if necessary”.
  • Bank of Valletta plc advanced by 1.3% to the €2.30 level (the highest since mid-March 2015) across 14,450 shares. BOV’s financial statements as at 30 September 2016 will be published by the end of October.
  • Positive sentiment towards GO plc persisted as the equity climbed 0.9% to yet another five-month high of €3.25 on volumes totalling 8,800 shares.
  • On the Alternative Companies List, Loqus Holdings plc gained 2.2% to the €0.139 level on trivial volumes.
  • Shallow volumes were also recorded in the equities of International Hotel Investments plc and MaltaPost plc which maintained the €0.635 and €1.85 levels respectively.
  • HSBC Bank Malta plc failed to hold on to its intra-day high of €1.67 (+1.8%) as it closed flat at €1.64. A total of 10,123 shares were traded today.
  • Meanwhile, RS2 Software plc dropped to its lowest level in four weeks as it slipped by 1.9% to the €1.57 level across 8,600 shares.
  • Simonds Farsons Cisk plc extended yesterday’s decline by a minimal 0.1% to €7.00 across 3,633 shares. The recently declared net interim dividend of €0.0333 per share will be paid on Wednesday 19 October.