Daily Market Highlights (25.07.2016)

  • The MSE Share Index slipped by a further 0.05% to a five-week low of 4,463.750 points. Trading was limited to just seven equities, with three of them (BOV, RS2 and FIMBank) registering drops, two shares closing higher (HSBC and MPC) whilst another two closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index extended last Friday’s gains by a further 0.09% to reach a near two week-high of 1,158.907 points. Movements in the 10-year yields of Germany, Italy and Spain were relatively muted today as the benchmark Bund slipped to -0.016% from -0.012% last Friday. Similarly, the Italian and Spanish counterparts trended marginally lower. On the economic front, the German IFO Business Climate survey, which is an indicator of economic developments in German, showed a slightly smaller than expected dip in business confidence in Germany.
  • Prices for the upcoming new Malta Government Stocks – i.e. the 1.5% MGS 2022 (IV) Fungibility Issue and the 2.4% MGS 2041 (I) – will be determined next Thursday 28 July in the afternoon. Applications by retail investors (up to a maximum of €100,000 nominal) will open on Monday 1 August and close on Wednesday 3 August or earlier.
  • The most actively traded equity today was HSBC Bank Malta plc as 65,879 shares having a market value of €0.10 million (representing 57.5% of the total value of equities traded) changed hands. The equity advanced by 0.6% to recapture the €1.58 level. HSBC will publish its interim results on 3 August.
  • The other positive performing equity today was Malta Properties Company plc which climbed by 0.6% to the €0.51 level across 11,675 shares.
  • Within the same segment, Malita Investments plc held on to the €0.89 level on activity of 5,600 shares.
  • Similarly, GO plc maintained the €2.82 level across 3,820 shares. The Company is shortly expected to announce the result of TT ML Limited’s voluntary offer to acquire GO shares.
  • In contrast, Bank of Valletta plc retreated by 0.5% to the €2.20 level on volumes totalling 22,628 shares.
  • Also among the large companies, a single deal totalling 2,000 shares pulled the equity of RS2 Software plc back to the €2.00 level (-0.5%). This morning, RS2 announced that its Board of Directors is scheduled to meet on Thursday 11 August 2016 to consider and approve its interim financial statements for the half-year ended 30 June 2016.
  • FIMBank plc eased by 0.1% to USD1.018 on thin volumes totalling 1,000 shares.
  • In the coming days, both MIDI plc and International Hotel Investments plc are expected to reveal their respective allocation policies in respect to their recent secured bond offerings.

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