Daily Market Highlights (14.08.2017)

  • The MSE Share Index retreated by 0.05% to 4,654.692 points today as the 1.8% drop in the share price of HSBC slightly outweighed the gains in BOV (+1.2%), MPC (+0.2%) and RS2 (+0.1%). Trading volumes were weak as only €0.1 million worth of shares changed hands. No trading will take place on the Borza tomorrow due to a public holiday. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index trended higher for the third consecutive day as it gained a further 0.15% to a near seven-week high of 1,130.281 points. Euro zone sovereign yields gained ground today amid an ease of diplomatic tensions between the US and North Korea. Meanwhile, an Executive Board Member at the Bundesbank (Germany’s central bank) was reported as saying that the European Central Bank’s current expansionary monetary policy is “very much justified” as inflation remains muted. However, he also acknowledged that members of the ECB Governing Council have different views on the level of support that the euro zone economy needs to continue progressing with its current recovery. On the economic front, industrial production within the single currency area grew by a less-than-expected 2.6% year-on-year in June from a revised +3.9% in the previous month.
  • A single deal of just 1,550 shares pulled the equity of HSBC Bank Malta plc 1.8% lower back to the €1.92 level.
  • On the other hand, Bank of Valletta plc advanced by 1.2% to the €2.085 level across 24,818 shares.
  • RS2 Software plc regained the €1.79 level (+0.1%) on five deals totalling 19,904 shares whilst Malta Properties Company plc gained 0.2% to the €0.501 on trivial volumes.
  • Meanwhile, GO plc closed the day unchanged at the €3.60 level after recovering from an intra-day low of €3.50 (-2.8%). Only 1,600 shares traded.
  • PG plc maintained its all-time high of €1.40 across 5,700 shares. Last Friday, PG published its financial statements for the financial year ended 30 April 2017 revealing a pre-tax profit of €10.8 million which is significantly higher than the corresponding figure in the previous financial year largely reflecting the Group’s investment in the PAMA Shopping Village. The Directors reiterated their plan to start distributing dividends from the current financial year ending 30 April 2018.