Daily Market Highlights (29.08.16)

  • Following last week’s 1% uplift, the MSE Share Index opened this week in negative territory with a 1.3% drop to a fresh 3-week low of 4,409.226 points as most of the active equities today trended lower. Trading values surged today with more than €0.33 million worth of shares changing hands – the highest level traded in the past 7 weeks. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index eased 0.1% lower to 1,167.288 points as yields across the Eurozone rebounded. This follows last Friday’s comments by the US Federal Reserve Chairperson Janet Yellen that the case for an interest rate increase in the US has strengthened in recent months following improvements in the labour market and expectations of solid economic growth in the US.
  • Once again, high trading activity continued to dominate the 2.4% MGS 2041 (I) r as a further €2.06 million (nominal) changed hands across 65 trades with the price edging marginally higher to 106.01%.
  • In the banking sector, Bank of Valletta plc eased by 0.5% to €2.22 across eight deals totalling 12,067 shares.
  • Similarly, HSBC Bank Malta plc more than offset last week’s gains as the equity slipped 2.5% to its 2016 low of €1.55 on shallow volumes of 6,889 shares. The Bank is scheduled to pay the recently declared gross interim dividend of €0.071 per share (net: €0.0462) on 9 September.
  • New sell orders also forced the share price of FIMBank plc 5.1% lower to USD0.925 across 29,366 shares.
  • International Hotel Investments plc shed 3.8% to fall back to the €0.616 level across eight deals totalling 25,201 shares ahead of the Group’s 2016 interim results publication tomorrow.
  • Amongst the large equities by market capitalisation, Malta International Airport plc also trended in negative territory today with a 0.2% drop to the €4.23 level albeit on shallow volumes of 9,500 shares. The airport operator is scheduled to pay the recently declared gross interim dividend of €0.0462 (net: €0.03) on 16 September.
  • The worst performer during this morning’s session was Medserv plc as the equity plunged 9.1% back to the €1.50 level, its 2016 low, on heightened activity of 63,700 shares. Last Friday, Medserv plc published its 2016 interim results revealing a substantial drop in pre-tax profits to €0.28 million on the back of a slowdown in Cyprus and a delay in works in Portugal amongst other factors.
  • The only other negative performing equity was Malta Properties Company plc with a 4.5% drop back to the €0.535 level across 4,738 shares.
  • On the other hand, the share price of GO plc gained 0.8% to recapture the €3.075 level across 12,600 shares.
  • Likewise, Simonds Farsons Cisk plc shares trended in positive territory with a 1.6% increase to regain its all-time high of €6.50 on shallow volumes of 1,600 shares.
  • Meanwhile, the only other active equity today was RS2 Software plc which traded unchanged at the €1.85 level across eight deals totalling 37,415 shares.


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