Daily Market Highlights (22.06.2016)

  • The MSE Share Index closed in positive territory for the third consecutive day today as it gained 0.05% to 4,482.213 points (its highest level in almost four weeks). Most notably, the total value of traded equities surged to a three-month high of €1.02 million, reflecting strong trading activity in the equities of GO, Lombard, RS2 and FIMBank. Trading in these particular four equities represented nearly 93% of the total value of traded equities today. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index moved higher for the third consecutive day as it gained a further 0.04% to a near two-week high of 1,152.095 points, reflecting narrower spreads between the 10-year Italian and Spanish government papers over their German counterpart. The benchmark 10-year German Bund yield moved from a low of 0.041% yesterday to a high of 0.07% today. Yesterday, the European Central Bank President Mario Draghi testified to European Lawmakers, giving a dovish assessment of the eurozone’s economy, saying that inflation dynamics remained subdued.
  • Lombard Bank Malta plc trended positively for the first time in the last seven weeks as it advanced by 1.0% to the €2.02 level on volumes totalling 119,064 shares having a market value of nearly €0.24 million.
  • Healthy trading volumes also took place in the equity of RS2 Software plc. The share price recaptured the €3.50 level across 57,000 shares. RS2 will be holding its Annual General Meeting tomorrow during which shareholders will be asked to approve a number of resolutions including those related to the dividend payment, bonus share issue and share split. The shares of RS2 will continue to trade with the entitlement to the share split until 30 June whilst the shares are already trading ex-dividend and ex-bonus.
  • The other positive performing equity today was International Hotel Investments plc as a single deal of just 3,513 shares lifted the share price by 1.5% to a near twelve-week high of €0.66. Shareholders as at Monday 27 June will be entitled to a 3 for 100 bonus share.
  • In contrast, Malta International Airport plc continued to trend lower as the equity retreated by 1.2% to a fresh five-month low of €4.20 across 2,508 shares.
  • Simonds Farsons Cisk plc also closed lower today with a decline of 0.3% to the €6.28 level on volumes totalling 4,300 shares. Farsons will be holding its 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.
  • Meanwhile, six other equites finished today’s trading session unchanged. In the banking sector, Bank of Valletta plc (11,504 shares) and FIMBank plc (202,100 shares) held on to the €2.24 and USD0.92 levels respectively.
  • Similarly, ten deals totalling 122,450 shares of GO plc traded at the €2.90 level. Yesterday, 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.
  • In the property segment, Malita Investments plc and Tigne’ Mall plc closed flat at €0.89 and €1.06 respectively on shallow volumes. Tigne’ Mall shareholders as at close of trading today will be eligible to receive a final net dividend of €0.0125 per share. This will be paid on 12 July subject to approval during the Company’s AGM to be held on Friday 24 June.

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