Daily Market Highlights (07.10.16)

The MSE Share Index extended yesterday’s gains by a further 0.21% to 4,485.383 points on low volumes. In fact, only €0.09 million worth of shares changed hands today – the lowest level of trading in the last nine trading sessions. Week-on-week, the Index gained 0.42% – the third consecutive weekly uplift. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index moved lower for the seventh consecutive day as it retreated by a further 0.10% to a near three-week low of 1,167.438 points. Euro zone sovereign bond yields continued to rise today, with the 10-year benchmark German Bund yield advancing to +0.012% from -0.037% yesterday. Week-on-week, the Index shed 0.58% which is the worst weekly performance since late April 2016.

This morning, the Treasury announced the issue of 2 new Malta Government Stocks for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €60 million. The 2 new issues are the 1.50% MGS 2022 (IV) FI and the 2.10% MGS 2039 (I). The issue prices of both securities will be determined on Thursday 13 October 2016 in the afternoon. Subscriptions open on Monday 17 October.

A single deal of 4,140 shares lifted the equity of Malita Investments plc to its highest level in two months of €0.88 (+2.3%).

HSBC Bank Malta plc closed at its six-month high of €1.67 (+1.8%) across 3,000 shares.

Also among the large companies, Malta International Airport plc advanced 0.2% to the €4.27 level albeit on thin volumes. Shortly after the close of today’s trading session, MIA published its September traffic results revealing a 5.8% increase in passenger movements to an all-time high of 531,962 passengers. The growth in passenger traffic was attributable to a 4.2% increase in seat capacity coupled with a high seat load factor of 87.5% (September 2015: 86.2%). Between January and September 2016 MIA registered a 7.5% increase in passenger movements to 3.89 million when compared to the same period last year on the back of a 5.3% increase in seat capacity and a 1.7 percentage point increase in the seat load factor to 83.4%. In July, MIA had revised upwards its passenger growth forecast for 2016 to +7.5% to 4.97 million passengers compared to the previous 2016 forecast of 4.73 million (+2.4%) revealed in January 2016.

Shallow volumes were also recorded in the equity of MIDI plc which rebounded by 1.6% to €0.325.

In contrast, Malta Properties Company plc retreated by 1.5% to the €0.59 level on volumes totalling 56,724 shares.

Bank of Valletta plc eased 0.4% from its nineteen-month high of €2.30 to the €2.29 level. A total of 14,860 shares were traded today. BOV’s financial statements as at 30 September 2016 will be published by the end of October.

Meanwhile, RS2 Software plc held on to its four-week low of €1.57 on 7,000 shares.

Similarly, MaltaPost plc maintained the €1.85 level on trivial volumes.