Daily Market Highlights (17.07.2019)

MSE Equity Price Index halts 2-day positive streak

 

Following the gains in the previous two trading sessions, the MSE Equity Price Index dropped by 0.24% today to 4,787.467 points as five companies trended lower whilst only BMIT nudged higher. Meanwhile, a further five shares ended the day unchanged whilst trading volumes improved notably to €0.45 million compared to €0.27 million yesterday. Download today’s Equity Market Summary.

RS2 Software plc eased by 0.6% to the €1.80 level after opening at a low of €1.75 (-3.3%). A total of 50,875 shares changed hands.

Also among the large companies, GO plc lost 0.9% to the €4.54 level across 17,600 shares whilst a single deal of just 1,290 shares forced the equity of HSBC Bank Malta plc to move 0.7% lower to the €1.52 level. HSBC is due to publish its interim financial results on 5 August. The Directors will also consider the payment of an interim dividend.

In the property segment, Malta Properties Company plc shed 3% back to the €0.64 level albeit on trivial volumes.

Tigné Mall plc retracted to the €0.88 level (-2.2%) on activity totalling 55,000 shares.

Conversely, Trident Estates plc retained the €1.92 level on insignificant volumes.

Bank of Valletta plc (28,060 shares) and FIMBank plc (5,175 shares) maintained the €1.14 and USD0.615 levels respectively. FIMBank is due to publish its interim financial results on 8 August.

Malta International Airport plc held on to the €7.00 level across 8,000 shares. The airport operator is due to publish its interim financial results on Thursday 25 July. The Directors will also consider the payment of an interim dividend.

Two deals totalling 25,395 shares left the equity of PG plc at the €1.60 level.

Meanwhile, BMIT Technologies plc continued to trade within a tight range as the share price recaptured the €0.535 level (+0.9%) on activity of 160,400 shares. The company is scheduled to hold an Extraordinary General Meeting on 6 August in relation to the acquisition of the Handaq data centre.

The RF MGS Index added to yesterday’s gains as it advanced by a further 0.26% to 1,145.431 points. Changes in the prices of Malta Government Stocks (“MGS”) resulted in the MGS yield curve to flatten further as the yields of short-dated MGS were higher when compared to yesterday whilst the yields of medium-to-long term MGS declined considerably. On the economic front, inflation data in the euro area showed signs of improvement as this increased to 1.3% in June from the previous reading of 1.2%.

Today, Stivala Group Finance plc announced that it submitted an application to the Listing Authority requesting the admissibility to listing of €15 million secured bonds redeemable in 2029.