Daily Market Highlights (15.12.2017)

  • The MSE Equity Price Index partly erased yesterday’s declines as it rebounded by 0.4% to 4,456.874 points, reflecting the gains in the share price of BOV (+2.7%), Lombard (+0.9%) and PG (+0.4%) which outweighed the declines in MPC (-2.3%), RS2 (-1.8%) and Medserv (-0.4%). Week-on-week, the MSE Equity Price Index rose by 1% – the sharpest weekly gain since last October. Download a copy of today’s Equity Market Summary.
  • Following yesterday’s slump of 0.37%, the RF MGS Index rebounded strongly today as it advanced by 0.26% to 1,132.531 points. Despite today’s uplift, the RF MGS Index still ended the week marginally lower with a slight drop of 0.1%. Euro zone sovereign yields trended significantly lower today (bond prices gained) as despite the increased optimism of the ECB with respect to economic growth within the single currency area, inflationary pressures are expected to remain sluggish in the near term.
  • Positive sentiment towards Bank of Valletta plc persisted as the equity jumped by 2.7% to the €1.88 level on nine deals totalling 17,290 shares. The Bank is expected to announce the allocation policy in respect of subscriptions for lapsed rights by next Tuesday 19 December 2017. Moreover, refunds of unallocated monies will be affected by 28 December 2017.
  • Within the same sector, Lombard Bank Malta plc regained the €2.30 level (+0.9%) on light volumes totalling 2,000 shares. Yesterday, Lombard announced that its Board of Directors is scheduled to meet on Thursday 8 March 2018 to consider and approve the Group’s full-year results for the financial year ending 31 December 2017.
  • Low trading activity also took place in the equity of PG plc which advanced by 0.4% to the €1.425 level across 3,500 shares. Today, PG announced that the Board of the Planning Authority unanimously approved a permit for the building of additional floors at the Zara and Zara Home store at the Alhambra Complex in Sliema. Development works are expected to commence in January 2018 and are scheduled to be completed by the end of the year. Meanwhile, PG also announced that its intends to open another Zara Home store at its PAVI Shopping Complex in Qormi. The Company’s Board of Directors is scheduled to meet next Wednesday 20 December 2017 to approve the interim financial statements for the six-month period ended 31 October 2017.
  • In the property segment, MIDI plc retained the €0.347 level whilst Malta Properties Company plc eased by a further 2.3% to the €0.43 level. Trading volumes in both equities was shallow.
  • Meanwhile, RS2 Software plc retreated by 1.8% back to the €1.50 level across 22,717 shares.
  • Medserv plc also performed negatively today with a drop of 0.4% to the €1.136 level on ten deals totalling 10,000 shares.