Daily Market Highlights (14.11.2018)

  • The MSE Equity Price Index recovered some of yesterday’s decline as it rebounded by 0.22% to 4,484.193 points. Activity was spread across nine equities, with volumes in PG representing 44% of the total value of equities traded. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index extended yesterday’s decline by a further 0.07% to 1,081.653 points. Malta Government Stock price movements reflected changes in the yields of euro peripheral countries amid higher perceived risks across global equity markets. On the economic front, Germany’s economy registered a small contraction in the third quarter this year from the previous quarter.
  • PG plc eased by 0.7% to the €1.36 level across 93,445 shares.
  • GO plc and Grand Harbour Marina plc also trended in negative territory today. The telecoms company lost 1% to the €3.96 level whilst GHM shed 2.7% to €0.73 albeit on trivial volumes. GO is scheduled to hold an Extraordinary General Meeting on 3 December 2018 related to the proposed sale of up to 49% of its shareholding in BMIT Technologies plc through an Initial Public Offering.
  • Low trading activity also took place in the equity of International Hotel Investments plc which recaptured the €0.60 level (+1.7%) on 14,074 shares.
  • FIMBank plc climbed by 1.3% to regain the USD0.80 level across 20,000 shares.
  • Within the same sector, HSBC Bank Malta plc added 0.6% to the €1.79 level across 15,014 shares. Last Friday, HSBC issued an Interim Directors’ Statement updating the market on its performance from January to September 2018. The bank noted that pre-tax profits were lower when compared to the first nine months of 2017 reflecting downward pressure on revenue and higher costs. On the other hand, the bank noted that from a regulatory perspective, its capital ratios continued to exceed requirements and that it will soon provide an update on its medium-term capital plan.
  • In the property segment, MIDI plc advanced 0.7% to €0.69 on volumes of 125,000 shares whilst Malita Investments plc closed unchanged at €0.90 after opening at a low of €0.885 (-1.7%) on a total of 15,893 shares.
  • A singe deal of just 1,563 shares left the equity of Bank of Valletta plc at the €1.34 level.