Issue link: https://maltatoday.uberflip.com/i/1001069
maltatoday | WEDNESDAY • 4 JULY 2018 12 BUSINESS Market Summary as at 03/07/2018 Equity Official List Session State ................................................................... Market Closed Trading Date .................................................................... 03 July 2018 Number of Trades ............................................................. 102 Turnover ......................................................................... €1,738,210.88 MSE TRX Index ................................................................. 8,724.685 (Change: 0.186%) Bank of Valletta plc ....................... 1.740 0.58% Mapfre Middlesea plc .................... 1.940 0.00% FIMBank plc .................................. 0.540 6.93% MIDI plc ........................................ 0.490 2.94% GlobalCapital plc ........................... 0.284 -2.07% Plaza Centres plc ........................... 1.040 0.00% GO plc ........................................... 3.340 0.00% RS2 Software plc ........................... 1.220 -1.61% Grand Harbour Marina plc ............. 0.750 0.00% Simonds Farsons Cisk plc .............. 7.100 2.90% HSBC Bank Malta plc ..................... 1.840 0.00% Tigné Mall plc................................ 0.950 0.00% International Hotel Investments plc 0.660 0.00% Pefaco International plc ................ 2.240 0.00% Lombard Bank Malta plc ................ 2.280 0.00% Santumas Shareholdings plc ......... 1.320 0.00% Malita Investments plc................... 0.895 3.47% Malta Properties Company plc ....... 0.520 0.00% Malta International Airport plc ....... 4.980 0.00% PG plc ........................................... 1.310 1.50% MaltaPost plc ................................ 1.700 0.00% Trident Estates plc ......................... 1.270 0.00% Medserv plc .................................. 1.000 5.26% Main Street Complex plc ................ 0.670 0.00% MSE Index Regular market closed –03/07/2018 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change l BOV 25,450 44,133.00 5 1.740 1.730 1.740 1.740 0.000 t GCL 120 33.60 1 0.280 0.280 0.280 0.280 -0.004 s GO 34,245 116,337.00 9 3.440 3.380 3.380 3.440 0.100 t HSB 21,000 38,630.00 4 1.840 1.830 1.840 1.830 -0.010 t MDI 97,500 47,745.00 3 0.492 0.488 0.492 0.488 -0.002 l MIA 600 2,988.00 1 4.980 4.980 4.980 4.980 0.000 t MLT 1,250 1,081.25 1 0.865 0.865 0.865 0.865 -0.030 s RS2 2,495 3,068.85 1 1.230 1.230 1.230 1.230 0.010 s TRI 10,500 13,755.00 2 1.310 1.310 1.310 1.310 0.040 s G20B 4,000 4,337.60 1 108.440 108.440 108.440 108.440 0.060 s G21A 13,977 16,093.12 1 115.140 115.140 115.140 115.140 0.080 t G22A 3,495 4,186.66 1 119.790 119.790 119.790 119.790 -0.030 t G23A 1,165 1,458.70 1 125.210 125.210 125.210 125.210 -0.490 t G24A 40,000 46,544.00 1 116.360 116.360 116.360 116.360 -0.020 s G29B 85,000 92,812.50 2 109.250 109.000 109.000 109.250 0.920 s G30A 5,000 7,062.00 1 141.240 141.240 141.240 141.240 0.140 s G31A 53,000 75,887.00 2 143.200 142.900 143.200 142.900 0.220 s G32A 30,000 41,160.00 1 137.200 137.200 137.200 137.200 0.240 s G33A 36,000 48,065.90 7 133.750 133.100 133.100 133.750 0.650 s G34A 111,000 146,483.10 3 132.000 131.910 132.000 131.910 0.530 s G36A 97,000 105,769.60 5 109.120 109.000 109.000 109.120 0.390 s G39A 239,500 242,533.10 9 101.300 101.060 101.200 101.060 0.560 s G40A 10,000 11,738.00 1 117.380 117.380 117.380 117.380 0.470 t G41A 33,400 35,237.00 1 105.500 105.500 105.500 105.500 -0.020 t 6PM25 131,000 123,299.20 5 95.000 94.000 95.000 94.000 -5.500 s AX24A 7,600 8,512.00 2 112.000 112.000 112.000 112.000 0.500 t DF26A 29,000 29,870.00 3 103.000 103.000 103.000 103.000 -1.000 l EF27A 9,700 10,110.40 2 104.300 104.200 104.300 104.200 0.000 t GP23A 270,000 277,098.95 5 103.000 102.500 102.990 102.500 -0.500 s HD26A 20,000 20,940.00 1 104.700 104.700 104.700 104.700 0.200 t IH26B 6,100 6,348.15 2 104.100 104.050 104.100 104.050 -0.050 t MB19A 8,000 8,360.00 1 104.500 104.500 104.500 104.500 -0.600 s MD26A 26,000 27,040.00 3 104.000 104.000 104.000 104.000 0.200 l MF24A 6,000 6,510.00 1 108.500 108.500 108.500 108.500 0.000 l MI20A 19,000 19,665.00 1 103.500 103.500 103.500 103.500 0.000 s PC26A 21,200 21,827.50 4 104.000 102.490 102.550 104.000 1.510 t PG20A 2,000 2,056.00 1 102.800 102.800 102.800 102.800 -0.200 s SD27A 7,500 7,837.50 3 104.500 104.500 104.500 104.500 0.100 s SF27A 3,400 3,571.70 1 105.050 105.050 105.050 105.050 0.040 t ST27A 4,700 4,888.00 1 104.000 104.000 104.000 104.000 -0.500 t VR27A 12,800 13,136.50 2 103.000 102.500 103.000 102.500 -1.250 Malta Fiscal Advisory Council publishes its overall assessment of the government's medium-term fiscal strategy ON 28 June 2018, the Mal- ta Fiscal Advisory Council (MFAC) presented its assess- ment of the Medium-Term Fiscal Strategy for the period 2018 to 2021, as outlined in the latest Update of Stability Programme. The Council welcomes the fact that, in 2017, for the sec- ond-year running, a fiscal sur- plus was achieved. The fiscal surplus, amounting to 3.9% of GDP, or 3.6% of potential out- put when measured in struc- tural terms, was substantially higher than originally antici- pated. This has also contrib- uted to accelerate the reduc- tion in the debt ratio further, declining to 50.8% of GDP as at end 2017. On this basis, the Council confirms that in 2017 there was full compliance with the fiscal rules prescribed by the Stability and Growth Pact and the Fiscal Responsibility Act. The debt rule was respected as the debt-to-GDP ratio stood well below the 60% of nominal GDP threshold. In structural terms, the recorded positive fiscal turnout comfortably met, and indeed exceeded, the requirement to maintain Mal- ta at its Medium-Term Objec- tive of a balanced budgetary position. The Council would like to encourage the Government to remain vigilant and to con- tinue to monitor carefully ex- penditure developments so as to avoid any significant depar- ture from the fiscal targets. Sustained commitment to the materialisation of the Gov- ernment's latest fiscal plans, which the Council has already considered as plausible and within its endorsable range, will ensure that between 2018 and 2021 such fiscal rules con- tinue to be complied with. At the same time, the Coun- cil considers equally impor- tant that apart from complying with fiscal rules, one should also ensure that the conduct of fiscal policy is conducive to the sustainability of pub- lic finances. In this respect, the Council draws attention to the European Commission assessment that in the case of Malta, whereas it is positive to note that there is low risk to the sustainability of pub- lic finances in the short term and medium term, there is a medium risk in the long term. More specifically, the Coun- cil observes that according to the Commission's projec- tions, Malta stands out as the EU Member with the second- highest projected increase in age-related expenditure in relation to GDP between 2016 and 2070. This in view of the anticipated higher outlays for pensions, health care and long-term care. Against such a scenario, the Council's view is that the build-up of further fiscal buffers should remain a priority. The Fiscal Council also sug- gests that long-term fiscal issues are given even more priority in the economic dis- cussions between the consti- tuted bodies and the Govern- ment. The prevailing benign macro-economic and fiscal conditions offer a window of opportunity for carrying out the necessary reforms to ad- dress such long-term chal- lenges. The full report, entitled "Overall Assessment – Up- date of Stability Programme 2018 – 2021", is available on the website of the MFAC http://www.mfac.org.mt.