Daily Market Highlights (28.03.2017)

  • Following the declines in the previous three trading sessions, the MSE Share Index rebounded strongly as it advanced by 0.56% – the sharpest daily uplift in two months – to a four-day high of 4,729.466 points. Trading activity was spread across eight equities: five registered gains whilst another three closed the day unchanged. Nonetheless, volumes dropped to a one-month low of just €0.1 million. Download a copy today’s Equity Market Summary.
  • Following the sharpest daily uplift in six weeks of 0.55% yesterday, the RF MGS Index slipped back by 0.23% to 1,118.698 points today as euro zone sovereign yields rebounded. In the wake of US President Donald Trump’s inability to pass a major healthcare reform bill last Friday, capital markets turned their attention on the possible implementation of major tax reforms in the US as part of Trump’s expansionary policies. Meanwhile, international financial media reported a Federal Reserve member as having said that long-term inflation expectations in the US are still running below the Federal Reserve’s 2% target and that while three interest-rate hikes are “plausible” this year, two rate increases are “also possible” as uncertainties within the current economic conditions in the US remain “pretty high“.
  • In the retail banking sector, HSBC Bank Malta plc (10,000 shares) and Bank of Valletta plc (6,469 shares) advanced 1.0% and 0.9% to recapture the €2.08 and €2.20 levels respectively.
  • Also among the large companies by market capitalisation, two deals totalling 5,000 shares lifted the equity of GO plc 0.9% higher to the €3.55 level. Shareholders as at close of trading tomorrow will be eligible to receive a net dividend of €0.11 per share.
  • Similarly, RS2 Software plc advanced 0.5% to the €1.649 level across 5,430 shares.
  • The best performing equity today was Mapfre Middlesea plc which gained 1.9% to the €2.19 level on volumes totalling 3,000 shares.
  • Meanwhile, Malta International Airport plc maintained the €4.15 level across 5,000 shares. Shareholders as at 6 April 2017 will be eligible to receive a final net dividend of €0.07 per share.
  • In the property segment, Malita Investments plc held on to its two-year low of €0.755 across 13,165 shares whilst a single deal of just 936 shares left the equity of Malta Properties Company plc unchanged at the €0.52 level.