Daily Market Highlights (31.10.2017)

  • The MSE Equity Price Index erased most of yesterday’s drop as it bounced back by 0.18% to 4,652.623 points. Today’s uplift in the Index reflects the 3.1% increase in the share price of RS2 Software plc as it regained the €1.64 level from its four-month low of €1.59 across 30,000 shares. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index registered the third consecutive day of strong gains as it added a further 0.22% to a near two-week high of 1,127.039 points. Euro zone sovereign yields continued to drift lower amid disappointing inflation data. Indeed, preliminary data published today showed that consumer prices within the single currency area increased by a less-than-expected 1.4% year-on-year in October from 1.5% in the previous two months. Core inflation (i.e. after excluding volatile items like food, energy, alcohol, and tobacco) slumped to a four-month low of 0.9%. Meanwhile, GDP growth across the euro area surged to a multi-year high of 2.5% year-on-year (annualised) in Q3 2017 and the unemployment rate fell below the 9% mark for the first time in over eight years.
  • Trading activity in Bank of Valletta plc remained high as the equity held on to the €2.00 level after recovering from an intra-day low of €1.98 on total volumes 105,562 shares. Last Friday, BOV published its financial results for the twelve-month period ended 30 September 2017. The Bank registered a pre-tax profit of €143.9 million which is 21.6% higher than the adjusted corresponding figure of the previous comparable period.
  • Also in the banking sector, Lombard Bank Malta plc maintained the €2.201 level on five deals totalling 14,650 shares.
  • Meanwhile, Malta International Airport plc ended today’s session 0.2% lower at the €4.75 level after only partially recovering from the €4.72 level (-0.8%). A total of 15,195 shares traded.
  • GlobalCapital plc shed 0.8% to move back to the €0.357 level on trivial volumes.
  • Trading in the recently listed 4% Stivala Group Finance plc 2027 bonds commenced today and the price jumped by 199 basis points to 101.99% on activity of €85,000 nominal.