Daily Market Highlights (10.08.2017)

  • In contrast to the increases registered during the previous two days, the MSE Share Index slumped by 0.93% today back to 4,634.070 points following decreases in the share prices of BOV, HSBC and Mapfre Middlesea. On the other hand, PG edged marginally higher whilst a further three equities ended the session unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index rebounded by 0.12% to 1,128.525 points as the benchmark 10-year eurozone yield maintained its downward trend hovering around the 0.4% level for the first time since late June 2017. Investors continued to seek safe-haven assets in view of the geo-political tensions between the US and North Korea.
  • The equity of Bank of Valletta plc moved back into negative territory with a decline of almost 1% to €2.04 across 28 deals totalling 80,273 shares. Earlier this week, BOV published its extracts from the management accounts covering the first six months of 2017. During the period, the BOV Group reported a 7.9% increase (excluding the €22 million one-off gain registered in the first half of 2016) in pre-tax profits to €68 million as the downward pressure on net interest income was outweighed by the growth in non-interest income as well as a €6 million reversal of impairments. The Bank will publish another set of results covering the 12-months ending 30 September by the end of October and preliminary results covering the fifteen months ending 31 December (BOV is changing its financial year end) by the end of March 2018. BOV is also planning a €150 million rights issue to strengthen its capital base.
  • Similarly, HSBC Bank Malta plc slumped 4.4% back to the €1.91 level (just above its 2017 low of €1.90) albeit on a single trade of 486 shares. The equity is trading without the entitlement to the net interim dividend of €0.03 per share.
  • The only other negative performing equity today was Mapfre Middlesea plc as it retreated by 0.3% back to the €1.855 level on volumes of 3,000 shares.
  • On the other hand, the share price of PG plc inched minimally higher to €1.40 ahead of the Group’s preliminary full-year results publication later on this afternoon. A total 16,188 shares changed hands across six deals.
  • Meanwhile, GO plc held on to the €3.60 level on shallow volumes of 2,200 shares.
  • Likewise, Malta Properties Company plc maintained the €0.50 level on volumes of 6,800 shares.
  • Malta International Airport plc also closed unchanged at the €4.22 level on a single trade of 1,160 shares. The equity will trade with the entitlement to the net interim dividend of €0.03 per share until 21 August.