Daily Market Highlights (06.12.2017)

  • The MSE Equity Price Index extended yesterday’s gains by a further 0.46% to 4,423.973 points as the gains in four equities including BOV and Farsons outweighed the declines in RS2 (-2.5%) and Tigne’ Mall (-0.5%). Trading volumes remained subdued as only €0.16 million worth of shares changed hands today. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index trended higher for the fourth consecutive day as it added a further 0.24% to an over five-month high of 1,133.941 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 104.22% and 106.41% respectively. Euro zone sovereign yields continued to move lower today (bond prices gained) amid growing concerns about a possible government shutdown in the US if lawmakers fail to reach a budget accord this week. Meanwhile, ECB Executive Board member Yves Mersch warned today that “while a too quick end to the buying program could lead to excessive market reactions, we should not forget that the longer the programme lasts, … the greater the risks will become”. Mr Mersch also added that “a credible perspective for an exit from QE is therefore key in curbing risks.”
  • Bank of Valletta plc rebounded by 1.7% from its near three-year low of €1.74 to the €1.77 level across 16,689 shares. Eligible shareholders had until today 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 recaptured the €1.80 level (+0.6%) after recovering from a fresh fourteen-month low of €1.75 across a total of 5,435 shares traded.
  • Simonds Farsons Cisk plc and Mapfre Middlesea plc advanced by 2.9% and 1.1% to the €9.00 and €1.80 levels respectively on light volumes.
  • Low trading activity also took place in the equities of Medserv plc and PG plc which maintained the €1.12 and €1.45 levels respectively. Yesterday, PG announced that the company’s Board of Directors resolved to distribute a gross interim dividend of €0.02422 (net: €0.01574) per share which is payable on 11 December 2017 to all shareholders as at close of trading on 29 November 2017.
  • A single deal of 35,000 shares left the share price of FIMBank plc at the USD0.615 level.
  • Malta International Airport plc also closed the day unchanged at the €4.66 level after failing to hold on to an intra-day high of €4.67 (+0.2%). A total of 6,400 shares changed hands.
  • Meanwhile, RS2 Software plc shed 2.5% to the €1.501 level across 16,824 shares.
  • The equity of Tigne’ Mall plc also performed negatively today as it slipped by 0.5% to €0.965 on 35,000 shares.
  • Listing of the newly issued 3.75% Virtu Finance plc 2027 took place today whilst trading is expected to commence tomorrow.