Daily Market Highlights (24.03.2017)

  • The MSE Share Index extended yesterday’s decline as it slipped by a further 0.34% to a near seven-week low of 4,707.432 points, reflecting the drops in the equities of FIMBank (-4.5%) and HSBC (-1.0%) which outweighed the 0.5% gain in BOV. During the past five trading sessions, the Index shed 0.16% – the third consecutive weekly decline. Download a copy today’s Equity Market Summary.
  • On the bond market, following the strong gains registered in the previous four days, the RF MGS Index dropped by 0.24% to 1,115.054 points. Euro zone sovereign yields gained ground today following strong readings from surveys measuring the level of activity of purchasing managers in the services and manufacturing sectors in France, Germany and the whole of the euro zone economy for the month of March. Despite today’s decline, the RF MGS Index still edged higher by 0.49% week-on-week.
  • FIMBank plc declined by 4.5% to the USD0.85 level after partially recovering from an intra-day low of USD0.80 (-10.1%). A total of 98,979 shares changed hands. Shareholders of FIMBank as at close of trading on 7 April 2017 will be eligible to a 1 for 80 bonus share subject to approval from shareholders and regulators.
  • Also in the banking sector, a single deal of just 5,000 shares pulled the equity of HSBC Bank Malta plc 1.0% lower to the €2.06 level.
  • On the other hand, Bank of Valletta plc advanced by 0.5% to regain the €2.19 level across 40,294 shares.
  • Meanwhile, Lombard Bank Malta plc maintained its fourteen-month high of €2.45 on volumes totalling 14,950 shares. The equity will start trading without the entitlement to the recently declared net dividend of €0.026 per share as from next Monday. During the upcoming Annual General Meeting (AGM) scheduled to be held on 27 April 2017, shareholders will also be asked to authorise the Board of Directors to disclose information, including price sensitive information, to a prospective bona fide offeror/s and the corresponding bona fide transferor in the disposal of a substantial shareholding in Lombard.
  • RS2 Software plc (11,192 shares) and Malta International Airport plc (1,000 shares) also closed unchanged at €1.64 and €4.15 respectively. Shareholders of MIA as at 6 April 2017 will be eligible to receive a final net dividend of €0.07 per share.
  • In the property segment, MIDI plc maintained the €0.33 level across 44,000 shares. The Company is due to reveal its 2016 financial results on 20 April 2017. Last Friday, MIDI revealed that it has appointed Jefferies International Limited as financial advisor for the purposes of identifying and selecting a suitable strategic partner to financially support the development of Manoel Island.