Daily Market Highlights (23.06.2017)

  • The MSE Share Index extended yesterday’s gains of +0.28% by a further 0.04% to an over six-week high of 4,681.516 points, reflecting the increases in the share prices of RS2 (+1.9%) and BOV (+0.2%) which slightly outweighed the declines in GO (-0.1%) and Mapfre Middlesea (-2.6%). The total value of equities traded exceeded the €0.4 million mark for the third consecutive day. The local equity index moved higher for the third consecutive week with an increase of 0.32% during the past five trading sessions. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index halted a three-day positive streak as it dropped by 0.09% from its five-month high of 1,137.064 points to 1,136.046 points. Euro zone sovereign yields rose today but remained close to their recent lows amid disappointing results from surveys gauging the level of activity of purchasing managers in the manufacturing and services sectors in June in the single currency area. In Italy, fresh data showed that industrial activity lost some momentum in April. On the other hand, Q1 GDP growth in France was confirmed at a better-than-expected +0.5%.
  • Trading activity in RS2 Software plc remained busy as fifteen deals totalling 136,866 shares lifted the equity 1.9% higher to a four-month high of €1.62.
  • Positive sentiment towards Bank of Valletta plc continued as the equity advanced by 0.2% to an over five-week high of €2.199 across 27,719 shares.
  • On the other hand, HSBC Bank Malta plc maintained the €2.08 level after retreating from an intra-day high of €2.088 (+0.4%). A total of 45,157 shares traded. HSBC is due to publish its 2017 half-year results on 31 July. The Directors will also consider the declaration of an interim dividend.
  • Also among the large companies, two deals totalling 4,300 shares left the equity of Malta International Airport plc unchanged at the €4.15 level.
  • Three property-related companies also closed the day flat today. Malta Properties Company plc and MIDI plc held on to the €0.52 and €0.31 levels albeit on shallow volumes.
  • Malita Investments plc retained the €0.74 level across 21,200 shares.
  • A single deal of just 1,808 shares pulled the equity of GO plc 0.1% lower to the €3.455 level whilst Mapfre Middlesea plc dropped 2.6% to a fresh 2017 low of €1.90 on just 712 shares. The insurance specialist is due to reveal its six-month financial performance on 21 July.