Daily Market Highlights (13.01.17)

  • The MSE Share Index posted its fourth consecutive daily positive performance as it advanced by a further 0.39% to a fresh near nine-year high of 4,690.277 points. Week-on-week, the local equity index gained nearly 1% mainly on the back of the uplifts in the share prices of BOV (+2.5%), HSBC (+1.5%), MIA (+1.2%) and GO (+0.6%). Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index moved lower for the first time in the last four days as it dropped by 0.33% to 1,139.408 points. Euro zone sovereign yields increased notably today after some parts of the international financial media reported the German Finance Minister Mr Wolfgang Schaeuble as saying that the European Central Bank (ECB) should start unwinding its ultra-loose monetary policy this year. He said forecasts that inflation could reach 3% in Germany this year would exacerbate concerns about current low interest rates. In reaction, the 10-year benchmark German Bund yield spiked to a high of 0.331% today from 0.233% yesterday. Despite today’s decline, the RF MGS Index still closed the week 0.22% higher.
  • The equity of Bank of Valletta plc started to trade without the entitlement to the bonus share issue today. It opened the day at a high of €2.20 (equivalent to a pre-bonus adjusted price of €2.369) – the highest since November 2007 – touched a low of €2.10 (equivalent to €2.26) and closed at €2.15 – representing a gain of 2.0% from yesterday’s pre-bonus adjusted price of €2.108. A total of 105,604 shares changed hands for a value of €0.23 million.
  • Also in the retail-banking sector, HSBC Bank Malta plc inched 0.1% higher to a fresh near three-year high of €1.98 across 35,862 shares. The Board of Directors of HSBC is scheduled 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.
  • The equity of GO plc also experienced a volatile session today as it opened 7.3% lower at €3.06 before recapturing its near eight-month high of €3.30. A total of 17,500 shares traded.
  • A single deal of just 1,162 shares left RS2 Software plc unchanged at €1.81.
  • Grand Harbour Marina plc (8,200 shares) and Mapfre Middlesea plc (8,158 shares) also closed flat today at €0.899 and €2.25 respectively.
  • Meanwhile, International Hotel Investments plc eased by 0.2% to the €0.62 level across 50,000 shares.
  • Malta Properties Company plc dropped to the €0.56 level (-1.9%) on light volumes totalling 8,000 shares.