Daily Market Highlights (28.11.2018)

  • The MSE Equity Price Index edged minimally higher during today’s session as the increases in BOV and Malta Properties were mostly offset by the declines in GO and RS2 Software. A further five equities ended the day unchanged. Trading activity slowed down for the second consecutive day with just €0.12 million worth of equities changing hands. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index eased lower for the first time in six sessions with a 0.1% drop to 1,081.692 points. The decline reflects an uplift in the benchmark 10-year German Bund yield as Italy seems willing to discuss its budget measures with the European Commission although Deputy Prime Minister Luigi Di Maio stated that promises to citizens cannot be broken.
  • Bank of Valletta plc partially rebounded from yesterday’s 1.9% drop with an uplift of 1.1% today to regain the €1.33 level across two deals totalling 18,000 shares. 
  • Malta Properties Company plc also trended in positive territory today with a 1.8% increase to €0.57 on shallow volumes of 4,470 shares.
  • On the other hand, GO plc’s share price slipped 0.5% lower back to the €3.94 level on a single deal of 1,000 shares. GO is scheduled to hold an Extraordinary General Meeting on 3 December to seek shareholder approval in connection with the proposed sale of up to 49% of its subsidiary, BMIT Technologies plc.
  • RS2 Software plc dropped 2.6% to the €1.14 level across four deals totalling 28,500 shares.
  • Meanwhile, HSBC Bank Malta plc held on to the €1.80 level on a single deal of 5,000 shares.
  • Likewise, PG plc retained the €1.36 level on volumes of 32,951 shares. Tomorrow, the equity turns ex-dividend as the Board of Directors is scheduled to meet on 3 December to consider and approve the payment of an interim dividend due on 10 December.
  • Medserv plc also traded unchanged today as a further 1,660 shares changed hands at the €1.20 level. Yesterday evening, Medserv issued a detailed Interim Directors’ Statement noting that the Group secured long term contracts with significant business activity across all its operating segments, namely Integrated Logistic Support Services (ILSS) and Oil Country Tubular Goods (OCTG). Furthermore, Medserv is also well positioned to secure new contracts some of which are expected to materialize in the first half of 2019. Medserv expressed its optimism that it will achieve the 2018 forecasted EBITDA of €6.8 million which would represent a 54% increase over the amount generated in 2017.