Daily Market Highlights (31.08.16)

  • Following last Monday’s 1.3% plunge, the MSE Share Index trended higher for two consecutive sessions with a further 0.4% increase today to 4,439.84 points largely reflecting the last-minute jump in FIMBank’s share price. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index edged a further 0.1% higher to yet another 4-month high of 1,169.726 points as the benchmark 10-year German Bund yield drifted further into negative territory to -0.09%. On the other hand, the Spanish 10-year yield moved higher for the second consecutive dayn ahead of the Spanish confidence vote which Prime Minister Mariano Rajoy could lose as Spain’s Socialist party leader declared that they will vote against the Prime Minister.
  • The indicative bid prices quoted by the Central Bank of Malta for all Malta Government Stocks which mature after 2028, except for the 3.00% 2040 I issue, reached new record highs again today.
  • After trading in negative territory for the past two consecutive sessions, the share price of FIMBank plc closed 8.3% above yesterday’s 11-week closing low to recapture the USD0.975 level on strong volumes of 152,503 shares. The share price dropped to a low of USD0.87 today. The trade finance specialist recently reported a net profit of USD1.1 million for the first six months of this year which contrasts sharply with the USD8.0 million loss suffered during the first half of 2015. This achievement came on the back of a notable reduction in non-interest expenses and a substantial decrease in impairment allowances.
  • HSBC Bank Malta plc edged 0.1% higher to €1.561 albeit on a small deal of 5,850 shares.
  • The only other positive performing equity today was Malta Properties Company plc with a 0.9% uplift to the €0.54 level across nine deals totalling 50,794 shares.
  • On the other hand, Medserv plc failed to hold on to yesterday’s rebound as it slipped 2.9% lower to the €1.50 level across five deals totalling 20,000 shares.
  • Similarly, RS2 Software plc eased minimally lower to €1.849 on insignificant volumes of 1,500 shares after trading unchanged at the €1.85 level for the past three sessions.
  • Tigné Mall plc slumped 3.9% back to the €0.98 level on low volumes of a mere 3,000 shares.
  • The only other negative performing equity was Grand Harbour Marina plc with a 1.1% drop to the €0.89 level on low volumes of 2,800 shares. This morning, the Company published its 2016 interim results revealing a pre-tax profit of €0.35 million compared to €0.08 million in the first six months of 2015. The higher profitability is largely due to the operational improvements achieved at both marinas (Malta & Turkey). However, the Group did not register any berth sales and does not envisage any sales in the near future. The Directors declared a net interim dividend of €0.024 per share to all shareholders as at the close of trading next Monday 5 September.
  • Meanwhile, Bank of Valletta plc maintained the €2.25 level across 2,500 shares.
  • Similarly, Mapfre Middlesea plc held on to the €2.10 level on just 984 shares.
  • Low volumes were also transacted in GO plc and Simonds Farsons Cisk plc as both equities maintained the €3.10 and €6.50 levels respectively.
  • In the property segment, MIDI plc retained the €0.35 level on a single trade of 7,223 shares ahead of the Group’s interim results publication later on today.
  • Likewise, Malita Investments plc traded unchanged at the €0.87 level on a single trade of 15,000 shares.
  • The only other active equity today was Malta International Airport plc which also ended today’s session unchanged at the €4.24 level across four deals totalling 17,976 shares.


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