Daily Market Highlights (09.01.17)

  • The indicative opening Malta Government Stock prices quoted by the Central Bank of Malta extended their recent sharp downward trend today. The RF MGS Index moved lower for the sixth consecutive day and slipped by a further 0.35% to a fourteen-month low of 1,132.909 points. The 10-year benchmark German Bund yield briefly touched a three-week high of 0.326% this morning before easing to 0.291%. On the economic front, the result of a new survey showed that economic sentiment across the euro zone area rose to its highest level since mid-2015. Furthermore, the unemployment rate within the single currency area remained at 9.8% – the lowest since November 2009. Meanwhile, the international credit rating agency Standard & Poor’s said today that it is not expecting the European Central Bank (ECB) to abandon its supportive monetary policy before 2018, even though inflation seems to have picked-up lately mainly due to rising energy prices.
  • The MSE Share Index kicked-off the week with a marginal decline of 0.03% to 4,643.158 points as the drops in the share prices of RS2, HSBC and Tigne’ Mall outweighed the gains registered in BOV and Farsons. Meanwhile, GO and MIDI both closed the day unchanged. Download a copy of today’s Equity Market Summary.
  • Bank of Valletta plc inched 0.7% higher to a three-week high of €2.275 across 38,913 shares. The equity will continue trading with the entitlement to the 1 for 13 bonus issue until Thursday 12 January 2017.
  • A single deal of 1,000 shares lifted the share price of Simonds Farsons Cisk plc to a three-month high of €7.05.
  • Shallow volumes were also traded in the equities of Tigne’ Mall plc and RS2 Software plc which eased 4.2% and 1.3% to €1.14 and 1.814 respectively.
  • HSBC Bank Malta plc moved lower for the first time in the last six trading sessions. The equity ended the day at €1.945 (-0.3%) on volumes totalling 14,220 shares. The Board of Directors of HSBC is set to meet on 21 February to consider and approve the preliminary statement of annual results for 2016 and also consider the declaration of a final dividend to be recommended during the Annual General Meeting to be held on 13 April 2017. Last Friday, the Bank also announced the redemption of its €58.2 million 4.6% subordinated bonds on 1 February 2017.
  • GO plc held on to the €3.28 level after recovering from an intra-day low of €3.26 (-0.6%). A total of 6,950 shares changed hands.
  • MIDI plc maintained the €0.35 level on heightened activity totalling 228,200 shares.