Daily Market Highlights (18.06.2018)

  • The MSE Equity Price Index extended last Friday’s decline by a further 0.1% to a fresh two-week low of 4,368.077 points. Trading activity was spread across thirteen shares. However, most of them traded on low volumes with the total value of equity market trades dropping to a one-week low of €0.15 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index opened the week in negative territory as it slipped by 0.08% to 1,100.546 points. In a relatively quiet day for bond markets, euro zone sovereign yields edged slightly higher following the sharp drops suffered in the aftermath to last Thursday’s decision by the ECB to terminate its asset purchase programme by the end of this year but maintain its benchmark interest rate at the prevailing historic low levels at least through the summer of 2019.
  • The most actively traded equity was Trident Estates plc which shed a further 4.6% to a new post-spin-off low of €1.25 on seven deals totalling 39,081 shares. The company is scheduled to hold its AGM on 27 June.
  • Malta Properties Company plc and GlobalCapital plc also registered notable declines today with the share prices dropping by 3.7% and 5.9% to €0.52 and €0.32 respectively albeit on trivial volumes.
  • Medserv plc shed by 2% to its 2018 low of €1.00 across 8,630 shares.
  • Among the large caps, Bank of Valletta plc lost 1.1% to the €1.73 level on 12,050 shares whilst three deals totalling 8,594 shares pulled the equity of International Hotel Investments plc 0.7% lower back to the €0.68 level. IHI shareholders as at the close of trading on Tuesday 26 June will be entitled to a net interim dividend of €0.02 per share.
  • In contrast, RS2 Software plc continued to rebound strongly as the equity gained a further 1.6% to the €1.27 level after opening at a high of €1.29 (+3.2%). A total of 4,634 shares changed hands. The company will be holding its AGM tomorrow.
  • HSBC Bank Malta plc regained the €1.83 level (+1.1%) on a single deal of just 2,500 shares.
  • Low trading volumes were also transacted in the equities of Mapfre Middlesea plc and Malita Investments plc. The insurance specialist closed 2.1% higher at the €1.94 level whilst Malita climbed 3% to the €0.855 level.
  • Meanwhile, GO plc (10,000 shares) and PG plc (7,000 shares) maintained the €3.40 and €1.30 levels respectively.
  • Malta International Airport plc also traded unchanged at the €4.98 level on insignificant volumes.