Daily Market Highlights (21.06.2017)

  • The MSE Share Index continued to trade sideways as it closed the day marginally unchanged at 4,666.485 points. Trading activity was spread across twelve equities – five trended lower, four ended unchanged whilst a further three shares registered gains. Nonetheless, most of today’s trading activity took place in just two equities – MIA and RS2 – which in aggregate accounted for 55% of the €0.47 million value of equities traded. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index extended yesterday’s gains by a further 0.36% – the sharpest daily uplift since early April 2017 – to a fresh five-month high of 1,136.528 points as euro zone sovereign yields continued to drift lower possibly reflecting heightened downward pressure on the price of oil. Oil prices have an impact on inflation which in turn influences central banks’ monetary policy decisions.
  • RS2 Software plc gained 0.6% to the €1.56 level across 75,315 shares. All resolutions were approved at yesterday’s Annual General Meeting and the final dividend will be paid tomorrow.
  • PG plc and Grand Harbour Marina plc posted gains on low trading activity. PG advanced 1.5% to the €1.299 level across 2,000 shares whilst two deals totalling 5,608 shares lifted the equity of the marina operator 3% higher to the €0.896 level. Yesterday, Grand Harbour Marina announced that it has submitted an application to the Listing Authority in connection with a new €15 million unsecured bond issue maturing in 2027. The Directors of the Company also resolved to redeem the outstanding €10.97 million 7% bonds on 22 August 2017. The announcement explained that, subject to regulatory approval, GHM will be granting preference to holders of existing bonds and also shareholders as at close of trading today.
  • In contrast, MIDI plc and Mapfre Middlesea plc trended lower also on shallow volumes. MIDI lost 1.6% to the €0.305 level on a single deal of just 3,333 shares whilst the equity of Mapfre Middlesea moved back to the €1.95 level (-0.5%) across 2,391 shares. The insurance specialist is due to reveal its six-month financial performance on 21 July.
  • The worst performing equity today was Plaza Centres plc with a drop of 3.8% to the €1.00 level across 13,800 shares. The Company will announce its interim results on 19 July.
  • In the banking sector, Bank of Valletta plc eased minimally to the €2.189 level on volumes totalling 13,300 shares whilst FIMBank plc retreated 0.4% to the USD0.77 level across 19,605 shares.
  • On the other hand, HSBC Bank Malta plc maintained the €2.07 level across 3,184 shares. The Bank is due to publish its 2017 half-year results on 31 July. The Directors will also consider the declaration of an interim dividend.
  • GO plc retained the €3.47 level after recovering from an intra-day low of €3.45 (-0.6%) A total of 16,700 shares traded.
  • Likewise, Malta International Airport plc (33,650 shares) and Malita Investments plc (100,535 shares) held on to the €4.15 and €0.74 levels respectively.