Daily Review 10.01.18

  • Following the declines in the previous two trading sessions, the MSE Equity Price Index rebounded by a minimal 0.04% to 4,480.490 points today as the gains in the share prices of BOV and HSBC slightly outweighed the drops in IHI and MPC. Trading volumes slumped to a near three-month low as only €0.08 million worth of shares traded. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index trended lower for the first time in the last five days today as it slipped by 0.25% to 1,116.308 points. Euro zone sovereign yields surged (bond prices dropped) amid speculation that the Bank of Japan might start reducing the amount of bond purchases conducted through its quantitative easing programme. Moreover, the price of oil hit its highest level since late 2014, prompting questions about the possibility of higher inflationary pressures across the world.
  • The equity of Bank of Valletta plc continued to trade within a tight range as it gained 0.8% to the €1.795 level across 23,988 shares.
  • Also in the retail banking sector, HSBC Bank Malta plc recaptured the €1.76 level (+0.6%) on four deals totalling 10,851 shares. The bank is due to publish its 2017 financial results on 20 February 2018. The Directors will also consider the declaration of a dividend to be recommended to shareholders during the Annual General Meeting to be held on 12 April 2018.
  • All other equities traded on low volumes. GO plc, PG plc and Malta International Airport plc maintained the €3.52, €1.40 and €4.76 levels respectively. The airport operator is shortly expected to announce the 2017 traffic results and also provide its passenger forecast for this year.
  • Meanwhile, International Hotel Investments plc lost 2.4% to the €0.615 level on just 6,774 shares.
  • The other negative performing equity today was Malta Properties Company plc which eased by 0.9% to the €0.436 level across 10,000 shares.