Daily Market Highlights (21.06.2016)

  • The MSE Share Index added to yesterday’s gains as it advanced by a further 0.26% to a fresh near four-week high of 4,479.940 points. Trading was spread across fourteen equities, most of which closed either in positive territory or unchanged whilst only two equities finished lower. The aggregate value traded today amounted to €0.58 million which is higher than the year-to-date daily average of €0.37 million. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index moved higher for the second day running as it gained a further 0.06% to 1,151.602 points despite further increases in both the German benchmark Bund yield as well as peripheral Eurozone yields. However, by this afternoon the benchmark 10-year German Bund yield slid from its intra-day high of 0.076% back to the 0.041% level after Germany’s constitutional court cleared the European Central Bank’s (ECB) Outright Monetary Transactions (OMT) programme which gives the bank broad powers to buy the debt of financially strained members.
  • The most active equity today was FIMBank plc as it edged 1.1% higher to reach a fresh six-year high of USD0.92 across 283,181 shares having a market value of USD0.26 million – equivalent to €0.23 million representing 41% of today’s total value traded.
  • Also in the financial services sector, Bank of Valletta plc continued to trend higher as it recaptured the €2.24 level (+0.2%) on volumes totalling 6,823 shares.
  • Similarly, the share price of GO plc performed positively today as it ended this morning’s session 0.3% higher at the €2.90 level after recovering from an intra-day low of €2.85 across a total of 28,150 shares. This morning, through a company announcement, the Directors of GO expressed an overall positive opinion on the effect of the implementation of the Voluntary Bid on GO given that Tunisie Télécom is expected to continue to support GO’s prevailing strategy which should be enhanced with the synergies to be created with Tunisie Télécom.
  • Likewise, RS2 Software plc rebounded from an intra-day low of €3.451 to end the session at the €3.499 level representing a 1.4% increase over the previous closing price albeit on shallow volumes of 2,3000 shares.
  • The best performing equity today was Medserv plc which climbed by 2.3% to the €1.79 level across 43,400 shares.
  • In contrast, HSBC Bank Malta plc slipped back by 0.3% to the €1.60 level on six deals totalling 11,457 shares.
  • Likewise, Malita Investments plc slid 1.1% to close at the €0.89 level across 7,000 shares.
  • Also within the property same segment, MIDI plc (800 shares) and Malta Properties Company plc (15,150 shares) traded unchanged at the €0.38 and €0.506 levels respectively. Last Friday, MIDI confirmed its intention to redeem the 7% bonds denominated in both Euro and Sterling on the first early redemption date of 15 December 2016. In parallel, the Company also said that it plans to issue a new €50 million Euro denominated bond maturing in 2026 subject to regulatory approval. Trading in the maturing bonds will be suspended from this Thursday 23 June 2016.
  • Two single deals of 2,000 and 2,350 shares also left the share prices of Lombard Bank Malta plc and Malta International Airport plc unchanged at their recent lows of €2.00 and €4.25 respectively.
  • Similarly, MaltaPost plc (12,476 shares) and Mapfre Middlesea plc (620 shares) retained their respective 2016 lows of €1.80 and €2.20 respectively.
  • Simonds Farsons Cisk plc failed to hold on to its intra-day high of €6.34 as it closed flat at the €6.30 level on volumes totalling 12,000 shares. Farsons will be holding its Annual General Meeting (AGM) on 28 June during which shareholders will also be asked to approve a final dividend (out of tax-exempt profits) of €0.0733 per share.