Daily Market Highlights (25.08.16)

  • Today, the MSE Share Index edged 0.45% higher to reach a fresh 3-week high of 4,450.510 as all active equities trended higher coupled with a rebound in trading activity to over €0.2 million for the first time this week. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index was largely unchanged at 1,167.943 points despite a marginal uplift across the yields in Germany, Spain and Italy.
  • High trading activity continued to dominate the 2.4% MGS 2041 (I) r as a further €3.6 million (nominal) changed hands across 91 trades. The price edged 20 bp lower to 105.90%.
  • In the banking sector, the share price of Bank of Valletta plc advanced by 0.9% to €2.25 across fourteen deals totalling 22,310 shares.
  • RS2 Software plc also trended higher albeit across significantly lower volumes as the share price regained the €1.85 level on just 500 shares.
  • Positive movements were also recorded in the property segment with Malita Investments plc edging 2.2% higher to €0.87 on volumes of 83,000 shares. Similarly, Plaza Centres plc’s equity closed 1.7% higher at €1.149 after failing to hold on to a fresh all-time high of €1.15 across shallow volumes of 2,300 shares.
  • Simonds Farsons Cisk plc also trended in positive territory today with its share price edging 0.8% higher to recapture the €6.40 level on a single trade of 12,000 shares.
  • The only other active equity was GlobalCapital plc which jumped 42.6% to regain the €0.499 level across six deals totalling 26,593 shares.
  • Earlier today, Malta Properties Company plc published its 2016 interim results revealing a 67.6% drop in net profit to €0.55 million reflecting the increase in administrative expenses as well as the impact of a tax expense as opposed to a one-off tax credit in the first half of 2015. These were only partially offset by the decline in interest payable following a reduction in the Group’s borrowings.
  • This afternoon, Lombard Bank Malta plc also published its 2016 interim financials revealing an adjusted 27.6% drop in pre-tax profits to €3.1 million as the increases in both net interest income and non-interest income were offset by larger increases in costs and impairments. Nonetheless, after accounting for a one-off gain of €1.3 million from the disposal of the Bank’s stake in VISA Europe, the Group’s pre-tax profit amounted to €4.4 million representing a 2.4% increase over the previous comparable period.

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