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MSE Share Index tops the 4,500 mark

Three-month high for the local stock exchange

The Malta Stock Exchange Share Index advanced by a further 0.37 per cent to a fresh three-month high of 4,515.091 points. Today’s gains were spearheaded by HSBC and IHI which outweighed the declines in MIA and RS2. Trading volumes remained on the low side as €0.18 million worth of shares changed hands.

HSBC Bank Malta plc surpassed the €1.80 for the first time in eleven months as it advanced by 2.8 per cent to the €1.82 on volumes totalling 46,499 shares. A complete interview with HSBC Group General Manager and Head of Commercial Banking Europe Mr Ian Stuart is expected to be published in the local financial media tomorrow.

In a summary of the interview last week, he was quoted as saying that HSBC Holdings is “going to push on here in Malta.” Mr Stuart added that “I can go back to London and formulate plans for the next phases of investment in Malta. We are absolutely committed to the island; there are growth opportunities.”

International Hotel Investments plc closed the day 0.2 per cent higher at €0.66 after opening at an intra-day low of €0.615. A total of 16,816 shares traded today.

The other positive performing equities today were the two-property related companies Malita Investments plc and Plaza Centres plc. Malita recaptured the €0.86 level (+1.2%) across 4,000 shares whilst Plaza edged 0.9 per cent higher to €1.11 on 10,000 shares.

RS2 Software plc erased yesterday’s gains as it retreated by 1.3 per cent back to the €1.53 level across 14,050 shares.

A single deal of just 500 shares pulled the equity of Malta International Airport plc 0.2 per cent lower to €4.179.

GlobalCapital plc traded for the first time in the last twenty-one trading sessions and slipped 2.2 per cent to the €0.479 level albeit on trivial volumes.

MaltaPost plc held on to the €1.85 level across 2,106 shares.

Bank of Valletta plc finished the day flat at €2.29 on volumes totalling 16,530 shares. The market is now awaiting the publication of BOV’s financial statements for the year ended 30 September 2016 by the end of this month.

The RF MGS Index moved to a new all-time high of 1,178.048 points (+0.30%). The opening indicative bid prices quoted by the Central Bank of Malta (CBM) for nine different Malta Government Stocks (including the longest-dated 2.40 per cent2041 I R) were at fresh record levels today. Meanwhile, investors await the conclusion of tomorrow’s European Central Bank monetary policy meeting for some indications on the central bank’s willingness to extend or otherwise its current bond-buying programme.

This article was provided by Rizzo Farrugia investment consultants

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