Daily Market Highlights (16.06.2017)

  • The MSE Share Index extended yesterday’s gains of 0.28% by a further 0.31% to 4,666.730 points as the increases in the share prices of HSBC (+2%), MIA (+0.2%) and Malta Properties outweighed the declines in GO (-0.6%), RS2 (-0.3%) and PG (-0.4%). Week-on-week, the Index added a minimal 0.05% after reaching a five-week high on Tuesday. Download a copy of today’s Equity Market Summary.
  • After reaching a fresh near five-month high of 1,134.680 points yesterday, the RF MGS Index slumped by 0.28% – the sharpest drop in over a month – to 1,131.518 points today. Euro zone sovereign yields surged markedly despite soft core inflationary data within the single currency area. During the month of May, the inflation rate dropped to -0.1% month-on-month and to +0.9% year-on-year from +0.5% and +1.2% respectively. In addition, the pace of growth in wages across the euro zone slowed to +1.4% in the first three months of this year from a growth of +1.6% in Q4 2016. Despite today’s drop, the RF MGS Index still performed positively week-on-week (the third consecutive weekly uplift) with a gain of 0.22% reflecting the strong gains registered on both Monday and Thursday.
  • HSBC Bank Malta plc jumped 2% to regain the €2.09 level across 9,278 shares. The Bank is due to issue its six-month financial performance on 31 July. The Directors will also consider the declaration of an interim dividend.
  • Malta International Airport plc edged 0.2% higher to the €4.13 level across six deals totalling 10,500 shares.
  • Following the 4.9% drop last Tuesday, Malta Properties Company plc rebounded by 3.4% to the €0.52 level today. A total of 8,000 shares changed hands.
  • Low trading activity also took place in the equities of Lombard Bank Malta plc, Tigne’ Mall plc and International Hotel Investments plc. All three shares traded unchanged at €2.30, €1.02 and €0.62 respectively. IHI shareholders as at 27 June are entitled to a 3 for 100 bonus share issue.
  • Bank of Valletta plc maintained the €2.185 level across 32,425 shares whilst trading volumes in Malita Investments plc picked-up as a total of 101,800 shares changed hands, leaving the equity at the €0.735 level.
  • Meanwhile, three other equities trended lower today. The worst performing of the three shares was GO plc with a decline of 0.6% back to the €3.47 level albeit on a single deal of just 2,000 shares.
  • RS2 Software plc eased by 0.3% to the €1.53 level across 11,250 shares whilst four deals totalling 24,000 shares dragged the equity of PG plc 0.4% lower to the €1.29 level. RS2 is due to hold its AGM on 20 June.