Daily Market Highlights (22.06.2017)

  • Following the minimal changes in the previous three trading sessions, the MSE Share Index gained 0.28% today to reach an over six-week high of 4,679.665 points. Five equities closed higher, three closed unchanged whilst only GO plc performed negatively with a drop of 0.3% to the €3.46 level on just two deals totalling 2,000 shares. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved higher for the third consecutive day as it added a further 0.05% to a fresh five-month high of 1,137.064 points. The opening indicative bid prices of the Central Bank of Malta for the two longest-dated Malta Government Stocks issued last February – i.e. the 1.50% MGS 2027 I offered at 100.5% and the 2.20% MGS 2035 I offered at 100.25% – reached new highs of 103.48% and 105.16% respectively. On the economic front, the result of a survey measuring the level of consumer confidence in the euro zone reflected heightened optimism. On the other hand, the level of activity amongst French businesses declined marginally.
  • Most of today’s trading activity took place in RS2 Software plc which advanced by 1.9% to an over four-month high of €1.59 on strong volumes totalling 172,500 shares. The Company paid the recently approved final net dividend of €0.01 per share today. Trading in the newly issued shares following a 1 for 12 bonus share issue was possible as from today.
  • Also among the large companies by market capitalisation, Bank of Valletta plc added 0.3% to the €2.195 level across 42,016 shares whilst HSBC Bank Malta plc gained 0.5% to recapture the €2.08 level on a total of 10,598 shares. HSBC is due to publish its 2017 half-year results on 31 July. The Directors will also consider the declaration of an interim dividend.
  • In the property segment, Malta Properties Company plc and MIDI plc trended 1.8% and 1.6% higher to the €0.52 and €0.31 levels respectively albeit on shallow volumes.
  • Very low trading activity also took place in the equity of PG plc which maintained the €1.299 level.
  • Very low trading activity also took place in the equity Middlesea plc at the €1.95 level whilst Malta International Airport plc also finished the day flat at the €4.15 level after recovering from an intra-day low of €4.135 (-0.4%) across 7,170 shares.