Issue link: https://maltatoday.uberflip.com/i/472423
maltatoday, WEDNESDAY, 4 MARCH 2015 12 Business Today Regular market closed – 03/03/2015 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap s BOV 22652 48138.440 11 2.140 2.120 2.120 2.121 0.001 2.125 s GHM 1430 2516.800 1 1.760 1.760 1.760 1.760 0.010 1.760 l GO 6000 16231.050 6 2.730 2.699 2.699 2.730 0.000 2.705 s HSB 32509 61562.740 13 1.895 1.880 1.895 1.890 0.010 1.894 l IHI 1000 650.000 1 0.650 0.650 0.650 0.650 0.000 0.650 l LQS 600 72.600 1 0.121 0.121 0.121 0.121 0.000 0.121 s MIA 182638 556676.700 23 3.050 3.030 3.040 3.050 0.030 3.048 s MSI 5492 5620.840 3 1.030 1.020 1.020 1.030 0.020 1.023 s SFC 624 1997.420 1 3.201 3.201 3.201 3.201 0.001 3.201 s TML 1200 841.200 1 0.701 0.701 0.701 0.701 0.001 0.701 t G16B 10483 11314.290 3 107.930 107.930 107.930 107.930 -0.030 107.930 s G20E 10000 10614.000 1 106.140 106.140 106.140 106.140 0.120 106.140 s G21A 13212 16525.570 2 125.080 125.080 125.080 125.080 0.020 125.080 s G22B 200000 244580.000 2 122.290 122.290 122.290 122.290 0.120 122.290 l G24A 2200000 2575100.000 2 117.050 117.050 117.050 117.050 0.000 117.050 s G28B 1800000 2345756.000 2 130.320 130.220 130.220 130.320 0.060 130.320 s G29A 10000 13769.000 1 137.690 137.690 137.690 137.690 0.090 137.690 s G30A 43600 60804.560 2 139.460 139.460 139.460 139.460 0.120 139.460 s G31A 22800 31516.440 2 138.230 138.230 138.230 138.230 0.040 138.230 t BV18A 7500 7875.750 1 105.010 105.010 105.010 105.010 -0.990 105.010 s BV20A 5300 5618.000 1 106.000 106.000 106.000 106.000 0.390 106.000 l CF19A 2800 2800.000 1 100.000 100.000 100.000 100.000 0.000 100.000 l IG24A 4500 4770.000 2 106.000 106.000 106.000 106.000 0.000 106.000 s IH21A 18600 18972.000 1 102.000 102.000 102.000 102.000 -1.000 102.000 l MF24A 16200 17658.000 2 109.000 109.000 109.000 109.000 0.000 109.000 l MI15A 99000 91940.000 6 93.000 92.500 93.000 93.000 0.000 92.870 l PG22A 6000 6360.000 2 106.000 106.000 106.000 106.000 0.000 106.000 s PT24A 16800 17880.000 3 106.500 106.260 106.500 106.500 0.250 106.430 Market Summary as at March 3, 2015 Equity Official List Session State ................................................................... closed Number of trades ............................................................. 97 Volume Traded ................................................................. 4,740,940 Value of € denominated securities .................................... 6,178,161.4 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denominated securities .............................. 0.00 Current Index ................................................................... 3473.828 Previous Index ................................................................. 3464.825 Change in Index (%) ......................................................... 0.26% 6pm Holdings plc ........................... 0.690 0.00% Malta International Airport plc ........ 3.050 0.99% Bank of Valletta plc ......................... 2.121 0.05% MaltaPost plc .................................. 1.360 0.00% FIMBank plc ................................... 0.475 0.00% Medserv plc ................................... 1.420 0.00% GlobalCapital plc ............................ 0.800 0.00% Middlesea Insurance plc ................. 1.030 1.98% GO plc ............................................ 2.730 0.00% MIDI plc ......................................... 0.225 0.00% Grand Harbour Marina plc .............. 1.760 0.57% Plaza Centres plc ............................ 0.850 0.00% HSBC Bank Malta plc ...................... 1.890 0.53% RS2 Software plc............................. 2.950 0.00% International Hotel Investments plc 0.650 0.00% Simonds Farsons Cisk plc ................ 3.201 0.03% Island Hotels Group Holdings plc .... 1.020 0.00% Tigné Mall plc ................................. 0.701 0.14% Lombard Bank Malta plc ................. 1.920 0.00% Pefaco International plc .................. 2.190 0.00% Malita Investments plc .................... 0.770 0.00% Santumas Shareholdings plc .......... 2.000 0.00% ECB Monetary Operations On Monday, February 23, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, February 24, and attracted bids from euro area eligible counterparties of €165.35 billion, €43.24 billion higher than the bid amount of the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.05%, in accordance with current ECB policy. On Wednesday, February 25, the ECB conducted a three-month longer-term refinancing operation to be settled as a fixed rate tender procedure with full allotment, with the rate fixed at the average rate of the MROs over the life of the operation. The auction attracted bids of €54.04 billion from euro area eligible counterparties, which amount was allotted in full in accordance with current ECB policy. Also on Wednesday, February 25, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation was carried out at a fixed rate of 0.59% and did not attract bids from euro area eligible counterparties. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day and 182-day bills maturing on May 29 and August 28, 2015, respectively. Bids of €25.00 million were submitted for the 91- day bills, with the Treasury accepting €0.50 million, while bids of €27.00 million were submitted for the 182- day bills, with the Treasury accepting €6.00 million. Since €6.00 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €0.50 million, to stand at €210.44 million. The yield from the 91-day bill auction was 0.020%, i.e. 0.2 basis point lower than on bills with a similar tenor issued on February 13, 2015, representing a bid price of 99.9949 per 100 nominal. The yield from the 182-day bill auction was 0.030%, i.e. also 0.2 basis point lower than on bills with a similar tenor issued on February 20, 2015, representing a bid price of 99.9848 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 182-day bills maturing on September 4, 2015. Money Market Report for the week ending February 27, 2015 Market commentary: ECB meeting tomorrow The main event of the week is the Eu- ropean Central Bank meeting in Cy- prus that is scheduled for tomorrow. Equity markets continue to rally and yesterday marked an important day for US shares as the NASDAQ trad- ed above the 5,000 level and both the S&P500 and the Dow Jones trading comfortably in the green. Investors will be following President Draghi's speech on Thursday as the ECB's president will have the opportunity to add to details of the quantitative easing programme as announced in the last meeting. Recent data showed improving conditions in Europe over the past month as economic confidence rose in February. No one is saying that Draghi will change his bond buying programme but speculation has already started of how the programme may end eventually. Perhaps it is too soon to start debating this. On the banking front, Barclays announced this morning that the lender has set a provision to the tune of 750 million pounds to cover the cost of settling the alleged currency rigging probe. Shares of Barclays opened lower this morning on the London Stock Exchange. Glencore plc also reported results this morning. The commodity trader reported profits that were better than analysts' expectations, fuelled by a strong performance from its marketing division. The company has however decided to suspend the share buyback program momentarily but will reconsider effecting further purchases when it announces half yearly results later on this year. Politics continue to take the headlines, as the West continues to show their disapproval to the worsening climate in Russia. Following the death of prominent anti-Putin critic Boris Nemtsov, leaders from around the world including President Barack Obama condemned the act. On his part, Putin is insisting that the west is engaged in propaganda against him. Today, Russian Economy minister is scheduled to meet with European Trade Commissioner in Brussels. Investors will continue to keep a close eye on oil prices. Yesterday, the price of oil fell on the back of a stronger US dollar and also helped by a rise in crude output from Libya as reported by Reuters. This decline in oil was not however enough to change the positive momentum as witnessed by equity markets over the course of yesterday. In terms of earnings, Best Buy and Merck are expected to report today. This article was issued by Darin Pace Treasury Manager at Calamatta Cuschieri. For more information visit, www.cc.com.mt . The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri & Co. Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.