Daily Market Highlights (30.08.2017)

  • The MSE Share Index moved lower for the third consecutive day as it dropped by a further 0.56% to a three-week low of 4,617.513 points, reflecting the declines in the share prices of BOV (-2.3%) and GO (-1.2%) which were only partially compensated by the 1.6% uplift in Malta Properties. Meanwhile, HSBC and PG closed the day unchanged. Trading volumes remained on the low side as €0.19 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • Following the gains registered in the previous two days, the RF MGS Index slipped by 0.14% to 1,129.058 points today as euro zone sovereign yields rallied following ease of geo-political tensions on the Korean peninsula. Moreover, economic data within the single currency area continued to be largely positive. In particular, a survey gauging the level of business and consumer confidence rose more than excepted to a ten-year high whilst the German and Spanish harmonised indices of consumer prices increased more than forecasted to +1.8% and +2% respectively year-on-year in August. Meanwhile, the international credit rating agency Moody’s upgraded its growth forecasts for the three largest economies within the euro zone (Germany, France and Italy) but lowered those for the US.
  • Over 70% of the total value of equities traded today took place in Bank of Valletta plc which lost 2.3% to the €2.05 level across 65,806 shares.
  • Also among the large companies by market capitalisation, two deals totalling 2,900 shares pulled the equity of GO plc 1.2% lower to the €3.506 level.
  • On the other hand, HSBC Bank Malta plc maintained the €1.92 level across 12,900 shares whilst a single deal of 14,200 shares left the equity of PG plc at its all-time high of €1.40.
  • Meanwhile, Malta Properties Company plc advanced 1.6% to regain the €0.51 level on light volumes totalling 2,200 shares.
  • Grand Harbour Marina plc and GlobalCapital plc are imminently due to publish their respective interim financial statements following Board of Directors’ meetings held today. The equities of both companies were inactive today.
  • Tomorrow, eligible shareholders of Tigne’ Mall plc are expected to receive payment of the recently declared net interim dividend of €0.0128 per share.