Daily Market Highlights (30.01.2018)

  • The MSE Equity Price Index dropped by 0.43% to a near one-week low of 4,458.304 points today as four out of the six actively traded equities trended in negative territory whilst another two shares closed the day unchanged. Download a copy of today’s Equity Market Summary.
  • The Treasury of Malta announced today that the amount of issuance of Malta Government Stocks during 2018 will not exceed €350 million. The funds raised will be principally used to finance the redemption of seven MGS issues. The Treasury explained that it will be issuing three different types of securities – the conventional fixed rate MGS; floating rate MGS linked to the six-month Euribor primarily targeted to institutional investors; as well as Malta Government Retail Savings Bonds similar to the savings bonds issued in 2017. The Treasury is aiming to spread its issuance programme over 3 to 4 issues whilst the maturity structure will be a mix of short and medium to long term MGS. Full details of the MGS on offer and the respective amounts and maturities will be published one to two weeks prior to each offer.
  • Meanwhile, the Malta Stock Exchange confirmed that the shares of Trident Estates plc were admitted to the Official List. Trident is the property company spun-off from Simonds Farsons Cisk plc following the declaration of an ‘in-kind’ net interim dividend of €1.2403667 per share by Farsons on 20 December 2017. Trading in the shares of Trident is possible as from tomorrow. Meanwhile, during today’s trading session the equity of Farsons lost 3.8% to the €7.50 level across 7,822 shares.
  • MaltaPost plc and Mapfre Middlesea plc also posted declines today albeit on insignificant volumes. MaltaPost slumped by 4% to an over three-month low of €1.91 and Mapfre Middlesea eased by 0.6% to the €1.78 level.
  • The equity of Bank of Valletta plc moved back to the €1.80 level (-0.6%) on volumes totalling 70,523 shares.
  • In contrast, HSBC Bank Malta plc maintained the €1.76 level across 15,309 shares.
  • A single deal of just 3,000 shares left the equity of MIDI plc at the €0.34 level.
  • The RF MGS Index drifted lower for the third consecutive day as it lost a further 0.14% to an over two-week low of 1,114.247 points. Euro zone sovereign yields continued to advance despite the issuance of relatively disappointing economic data within the single currency are.