Daily Market Highlights (24.05.2017)

  • Following the declines suffered in the previous two trading sessions, the MSE Share Index rebounded strongly as it advanced by 0.56% to 4,636.252 points today. Out of the eleven actively traded equities, six registered gains, three closed flat whilst only two shares trended lower. Trading volumes improved to a value of €0.45 million. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index moved lower for the third consecutive day as it fell by a further 0.06% to a five-day low of 1,122.821 points. Euro zone sovereign yields retreated today following the notable gains registered in the last three days as comments made by three members of the Executive Board of the European Central Bank (ECB) – including those of the ECB’s vice-president – poured water on the urgency for the ECB to clawback its ultra-accommodative monetary policy. These comments came a day after German Chancellor Angela Merkel implied that the ECB’s current monetary policy is weakening the euro. On the economic front, an index gauging the level of consumer confidence in Germany surged to its highest level in over fifteen years.
  • Mediterranean Investments Holding plc and Tumas Investments plc yesterday announced that both companies submitted an application to the Listing Authority in connection to two new bond issues. They also stated their intention to redeem their respective outstanding bonds maturing on 6 July and 10 July 2017 respectively.
  • The equity of Medserv plc posted its first daily uplift in eleven weeks as it bounced back by 5% from its near two-year low of €1.20 to the €1.26 level on encouraging volumes totalling 159,498 shares having a market value of €0.2 million and representing 45% of the total value of equites traded. The oil and gas logistics specialist is due to hold its Annual General Meeting on 31 May.
  • Among the large companies by market capitalisation, Bank of Valletta plc recaptured the €2.18 level (+1.2%) across 28,871 shares.
  • RS2 Software plc also performed positively today with a gain of 1.6% to its near three-month high of €1.55 on seven deals totalling 30,550 shares.
  • PG plc advanced 2.3% back to the €1.299 level across 22,000 shares whilst a single deal of just 2,138 shares lifted the equity of MaltaPost plc 6.7% higher from its five-month low of €1.901 to the €2.029 level.
  • In the property segment, Malta Properties Company plc advanced 1.8% to the €0.511 level across 18,145 shares. The Company is scheduled to hold its AGM tomorrow.
  • On the other hand, negative sentiment towards Tigne’ Mall plc persisted as the equity dropped by a further 2% to a fresh 2017 low of €0.98 on three deals totalling 50,000 shares. The equity is still trading with the entitlement to a final net dividend of €0.0125 per share.
  • Malta International Airport plc lost 0.5% to the €4.13 level albeit on insignificant volumes. The airport operator is due to pay the recently approved net dividend of €0.07 per share on Friday 26 May.
  • Meanwhile, HSBC Bank Malta plc (4,334 shares) and FIMBank plc (20,000 shares) closed the day unchanged at €1.98 and USD0.78 respectively.
  • Malita Investments plc retained its two-year low of €0.72 across 25,000 shares.