Daily Market Highlights (24.07.2017)

  • The MSE Share Index ended today’s session practically unchanged at 4,730.110 points as the gains in BOV and MIA were offset by the declines in Medserv and FIMBank. A further three equities ended today’s session unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index slipped by 0.1% to 1,124.697 points despite the downward trend in eurozone yields. By this afternoon, the benchmark 10-year German Bund yield slid back below the 0.5% level for the first time since 6 July as readings for the region’s manufacturing and services activity contracted for the second consecutive month.
  • Bank of Valletta plc moved back into positive territory with a 0.5% increase to the €2.17 level across ten deals totalling 21,165 shares. BOV is scheduled to hold an Extraordinary General Meeting on Thursday 27 July 2017 ahead of a €150 million rights issue.
  • Similarly, Malta International Airport plc advanced by 1.2% to recapture the €4.15 level on heightened volumes of 144,500 shares. On Wednesday, the airport operator is scheduled to publish its half-year results and provide its updated guidance for 2017.
  • On the other hand, the share price of FIMBank plc slipped by 3.3% back to the USD0.735 level on volumes of 25,973 shares.
  • Medserv plc also trended in negative territory today with a drop of almost 2% back to the €1.25 level on volumes of just over 11,000 shares.
  • Meanwhile, no change was registered in the share price of HSBC Bank Malta plc at the €2.05 level on shallow activity of 495 shares. The Bank is scheduled to reveal its 2016 interim results next Monday 31 July.
  • Likewise, Mapfre Middlesea plc closed unchanged as it held on to the €1.87 level across 36,000 shares. This morning, the Company published its 2016 half-year results revealing a 24% improvement in pre-tax profits to €7.02 million largely due to a recovery in the Group’s non-life insurance business as well as increased investment income. The Directors did not declare an interim dividend.
  • The only other active equity today was GO plc as the equity ended the session unchanged at the €3.599 level after recovering from an intra-day low of €3.55 on shallow volumes of 3,500 shares.