Daily Market Highlights (30.06.2016)

  • The MSE Share Index advanced by a further 0.59% to reach a six-week high of 4,561.431 points on weak volumes largely driven by the positive performance of BOV and Lombard which outweighed the declines in the share prices of MaltaPost and Tigne’ Mall. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index registered its third consecutive gain as today it advanced by a further 0.09% to a fresh twelve-week high of 1,156.364 points. The 10-year yields of the two largest euro zone peripheral countries – Italy and Spain – drifted lower today when compared to last Tuesday. On the economic front, inflation in the euro zone turned positive again in June (+0.1%) after four consecutive months below zero. In addition, core inflation, which strips out volatile elements like the prices of oil and food, came in at 0.9% from 0.8% in May.
  • On Tuesday evening, MIDI plc announced the issuance of €50 million 4% secured bonds maturing in 2026. Existing bondholders of the 7% GBP bonds can transfer their holding into the new 4% EUR bonds at a rate of GBP0.834 per EUR1.
  • The best performing and most actively traded equity today was Lombard Bank Malta plc. The share price recaptured the €2.20 level (+5.3%) across 15,681 shares. Lombard will reveal its interim results on 25 August.
  • Within the same segment, Bank of Valletta plc advanced by 2.0% to the €2.246 level on volumes totalling 2,874 shares.
  • Malta Properties Company plc and GO plc gained 4.9% and 0.4% to €0.535 and €2.86 respectively on trivial volumes. Eligible GO shareholders have until 22 July to respond to Tunisie Télécom’s voluntary public offer to acquire shares of GO at €2.87 per share.
  • Tigne’ Mall plc lost 0.9% to the €1.05 level also on low volumes. Eligible shareholders will receive the recently approved final net dividend of €0.0125 per share on 12 July.
  • MaltaPost plc managed to rebound from an intra-day low of €1.81 (-9.5%) but still closed marginally lower at the €1.99 level on volumes totalling 2,894 shares.
  • Meanwhile, International Hotel Investments plc (1,150 shares) and Malta International Airport plc (1,300 shares) maintained their recent highs of €0.70 and €4.25 respectively. This morning, IHI announced that it received regulatory approval for the issuance of a new €55 million 4.0% secured bond maturing in 2026. IHI shareholders as at close of trading last Monday 27 June will be given preference to subscribe for the first €30 million of the new bonds.
  • Three deals totalling 6,000 shares left the equity of Medserv plc at the €1.79 level.
  • No trades in RS2 Software plc took place today ahead of the 5:3 share split. The adjusted price based on the last traded price of €3.50 is €2.10.


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