Daily Market Highlights (10.07.2017)

  • The MSE Share Index edged marginally higher today to 4,724.826 points as the increase in the share price of HSBC was largely offset by declines in GO, RS2 and Medserv. Meanwhile, the other four active equities, including BOV and MIA, ended the session unchanged. Trading activity weakened by 17.4% from last Friday with €0.22 million worth of shares changing hands today. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index extended its negative run for the eighth consecutive day as it dropped by a further 0.15% to a near four-month low of 1,111.219 points reflecting the recent upswing in the benchmark 10-year German Bund yield which reached the 0.58% level last Friday for the first time since January 2016. However, by this afternoon, the benchmark 10-year Bund yield retreated back to the 0.55% level as the sell-off across the European bond market slowed down.
  • The only positive performing equity today was HSBC Bank Malta plc with a 0.4% increase to regain the €2.08 level albeit on insignificant volumes of 110 shares.
  • On the other hand, GO plc shed 0.1% as it eased back to the €3.465 level on shallow volumes of 2,600 shares.
  • RS2 Software plc trended in negative territory for the first time following twelve consecutive sessions of increases with a 0.1% decline to €1.848 across diminished volumes totalling 16,002 shares.
  • Similarly, Medserv plc retreated by 1.9% back to the €1.275 level on a single trade of 7,500 shares.
  • Meanwhile, Bank of Valletta plc ended the session unchanged at the €2.19 level after recovering from an intra-day low of €2.18 and failing to hold on to an intra-day high of €2.20. A total of 40,639 shares changed hands today. The Bank is scheduled to hold an Extraordinary General Meeting on Thursday 27 July 2017 whereby shareholders will be asked to consider and approve a number of important resolutions regarding the structure of its Board of Directors and the share capital (ahead of a €150 million rights issue).
  • Likewise, International Hotel Investments plc held on to the €0.60 level across five deals totalling 78,597 shares.
  • Malta International Airport plc also maintained the €4.15 level.
  • MIDI plc also traded unchanged at the €0.31 level on a single trade of 9,000 shares.
  • Although trading in the recently listed 3.75% Tumas Investments plc 2027 bonds was possible from today’s session, no deals were executed with highest bidders at 102.05% and lowest sellers at 103%.