Daily Market Highlights (29.03.2017)

  • Following the sharpest daily uplift in two months of 0.56% yesterday, the MSE Share Index eased by a minimal 0.01% to 4,728.913 points today as the declines in the share prices of four equities slightly outweighed the 2.1% rebound in MIA. Trading volumes improved markedly as €0.44 million worth of shares changed hands. Download a copy today’s Equity Market Summary.
  • On the bond market, the RF MGS Index gained 0.12% to 1,119.987 points as euro zone sovereign yields eased despite comments made yesterday evening by a Federal Reserve official who re-affirmed the central bank’s forecast for two more rate increases this year. Also in the US, the result of a survey showed that American consumer confidence in the economy rose in March to its highest level since December 2000. Meanwhile, in the euro zone area, German import prices rose by a better-than-expected 0.7% in February from the previous month, marking the fifth consecutive monthly gain of more than 0.5%. Year-on-year, German import prices surged by 7.4% – the sharpest rate of increase since May 2011.
  • Most of today’s trading activity took place in the equities of GO plc and Bank of Valletta plc. Both closed unchanged at €3.55 and €2.20 on activity of 79,630 and 57,197 shares respectively. Tomorrow, the equity of GO starts trading without the entitlement to a net dividend of €0.11 per share.
  • MIDI plc also finished the day flat at the €0.33 level on trivial volumes. The Company is due to reveal its 2016 financial results on 20 April 2017.
  • Shallow volumes were also traded in the equities of HSBC Bank Malta plc and Grand Harbour Marina plc. HSBC declined by 0.5% to the €2.07 level whilst a single deal of just 1,000 shares pulled GHM 0.2% lower to the €0.897 level. The marina operator is due to publish its 2016 financial results today.
  • Medserv plc slipped 1.3% to a four-month low of €1.58 across 5,000 shares. The oil and gas logistics specialist is due to reveal its 2016 financial results on 5 April 2017.
  • The other negative performing equity today was RS2 Software plc which lost 1.2% to the €1.63 level on light volumes totalling 2,745 shares.
  • In contrast, Malta International Airport plc advanced 2.1% to the €4.239 level across 3,175 shares. Shareholders as at 6 April 2017 will be eligible to receive a final net dividend of €0.07 per share.
  • This morning, SD Finance plc and Eden Finance plc both issued a formal notice in respect of the issuance of new ten-year unsecured bonds. Similarly, PG plc announced the offering of 27,000,000 shares, representing 25% of the total issued share capital of the Company. The business of PG plc comprises the operation of the PAVI Shopping Complex and the PAMA Shopping Village as well as the Zara® and Zara Home® franchises in Malta.