Issue link: https://maltatoday.uberflip.com/i/538516
maltatoday, WEDNESDAY, 8 JULY 2015 12 Business Today Regular market closed – 7/07/2015 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change s 6PM 1,000 760.000 1 0.760 0.760 0.760 0.760 0.020 l BOV 11,806 27,255.610 6 2.310 2.301 2.310 2.301 0.000 s GO 10,553 36,674.750 5 3.500 3.450 3.475 3.500 0.030 s HSB 18,766 33,529.710 8 1.800 1.780 1.790 1.800 0.010 t LOM 5,686 10,354.210 1 1.821 1.821 1.821 1.821 -0.038 s MIA 7,140 24,064.210 6 3.380 3.360 3.360 3.380 0.010 t MMS 10,000 16,798.030 3 1.750 1.670 1.750 1.670 -0.120 l MTP 289 433.500 1 1.500 1.500 1.500 1.500 0.000 s RS2 28,600 61,927.600 6 2.200 2.150 2.150 2.200 0.050 t G16A 5,824 6,095.400 1 104.660 104.660 104.660 104.660 -0.050 t G17C 10,000 10,888.000 1 108.880 108.880 108.880 108.880 -0.010 t G19A 3,495 4,314.930 1 123.460 123.460 123.460 123.460 -0.390 t G20A 4,659 5,581.480 1 119.800 119.800 119.800 119.800 -0.150 l G21A 21,136 25,669.680 4 121.450 121.450 121.450 121.450 0.000 s G22A 57,070 70,584.180 3 123.680 123.680 123.680 123.680 0.140 s G22B 74,600 88,035.460 4 118.010 118.010 118.010 118.010 0.050 l G23A 51,247 65,652.530 2 128.110 128.110 128.110 128.110 -0.300 s G28A 35,000 44,950.500 2 128.430 128.430 128.430 128.430 0.180 s G28B 32,700 40,907.700 3 125.100 125.100 125.100 125.100 0.020 s G29A 42,400 56,260.560 3 132.690 132.690 132.690 132.690 0.200 l G29B 10,000 10,200.000 1 102.000 102.000 102.000 102.000 0.000 s G30A 225,000 304,020.000 2 135.120 135.120 135.120 135.120 0.100 s G31A 59,800 81,106.740 4 135.630 135.630 135.630 135.630 0.100 t G32A 122,500 157,571.750 4 128.630 128.630 128.630 128.630 -0.010 s G32B 69,000 86,903.500 3 125.950 125.850 125.950 125.850 0.030 s G33A 30,000 37,305.000 4 124.350 124.350 124.350 124.350 0.080 s G34A 200,000 244,320.000 1 122.160 122.160 122.160 122.160 0.120 t G40A 364,300 379,271.500 23 105.000 103.950 105.000 104.000 -1.000 l IB25A 35,000 36,682.500 3 104.950 104.700 104.700 104.950 0.000 l IH25A 600 666.000 1 111.000 111.000 111.000 111.000 0.000 s SF20A 1,000 1,092.300 1 109.230 109.230 109.230 109.230 0.550 Market Summary as at July 07, 2015 Equity Official List Session State ................................................................... closed Number of trades ............................................................. 101 Volume Traded ................................................................. 1,483,723 Value of € denominated securities .................................... 1,899,580 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denominated securities .............................. 760 Current Index ................................................................... 4,105.179 Previous Index ................................................................. 4,104.892 Change in Index (%) ......................................................... 0.007% 6pm Holdings plc .......................... 0.760 7.65% Malta International Airport plc ....... 3.380 0.30% Bank of Valletta plc ........................ 2.301 0.00% MaltaPost plc ................................. 1.500 0.00% FIMBank plc .................................. 0.466 0.00% Medserv plc .................................. 2.355 0.00% GlobalCapital plc ........................... 0.800 0.00% Mapfre Middlesea plc .................... 1.670 -6.70% GO plc ........................................... 3.500 0.86% MIDI plc ........................................ 0.340 0.00% Grand Harbour Marina plc ............. 1.875 0.00% Plaza Centres plc ........................... 0.970 0.00% HSBC Bank Malta plc ..................... 1.800 0.56% RS2 Software plc............................ 2.200 2.33% International Hotel Investments plc 0.850 0.00% Simonds Farsons Cisk plc ............... 4.650 0.00% Island Hotels Group Holdings plc ... 1.020 0.00% Tigné Mall plc ................................ 0.850 0.00% Lombard Bank Malta plc ................ 1.821 -2.04% Pefaco International plc ................. 2.190 0.00% Malita Investments plc ................... 0.900 0.00% Santumas Shareholdings plc ......... 2.050 0.00% MSE Index Greece's Creditors Turn Up the Heat Greece has been forced to extend capital controls for yet another day today, and as banknotes are becoming increasingly scarcer, Greece's creditors are turning up the heat on Prime Minister Alexis Tsipras to devise a plan to stay in the euro. On Monday, former finance minister Varoufakis resigned despite the "no" for further austerity measures going through by a significant margin. In his resignation letter he mentioned that he felt overwhelming negative pressure from his European counterparts as they sought to freeze him out of meetings that were taking place. At this point, European finance ministers are waiting for a proposal to re-start bailout talks, as the onus is on Greece to act quickly in order to avoid a meltdown of its banks which the government said will remain closed until tomorrow. In a reaction to the "no" vote that was declared late Sunday, equity markets dropped yesterday albeit by a smaller amount than most were expecting, seemingly already discounting the probability of the event. On Monday, the German DAX fell 1.52% to 10,884 while the French CAC 40 Index fell 2.01% to 4,709.50. The Euro STOXX 600, an index representing companies across 18 European countries, fell 1.24%. On the fixed income side the German bund rallied, the flight to safety trades took centre stage, with the 10-year bund closing 2.6 bps tighter to 0.76%. On the other hand, peripheral sovereign bond yields rose quite significantly, with the Italian and Spanish 10- year yields increasing 14 and 16bpts respectively, while the Portuguese 10 year increased 24 bps to 3.15%. Tsipras heads to Brussels today in a last-ditch attempt to secure a rescue from European leaders and keep his country in the euro region. Markets traded relatively flat this morning as investors await the outcome of the meeting, where investors will be looking for signs of a possible agreement. Ahead of the summit and in a meeting between German Chancellor Merkel and French President Hollande, Merkel reiterated that the 'door for talks remains open' but that 'time is running out' and that it will be 'very important' for Tsipras to present a plan for moving forward at today's summit. Hollande largely echoed those views, saying that 'the door is open to discussions' and that 'it's up to the government of Tsipras to make serious credible proposals'. In other non-Greek related news, we have the FOMC meeting minutes look forward to as well as the kick-off of US earnings season with Alcoa tomorrow. Chinese equities are experiencing large swings as the central bank tries to stem the volatility which is damaging stability in the region. The Shanghai Comp was down over 1% this morning and Shenzhen was down 5.6%, now nearly 14% off early Monday's high! July hasn't been a kind month for the oil market so far and yesterday was no exception after we saw Brent fall over 6% and WTI almost 8%, tumbling to $56.54/bbl and $52.53/bbl respectively. Along with the heightened tension around Greece and extreme volatility in China, talks between Iran and world powers on a nuclear deal which could see sanctions lifted on the nation also played a part in the commodity's sharp decline this month. This article was issued by Simon Psaila, Trader / Analyst 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 newspaper. Money Market Report for the week ending July 3, 2015 ECB Monetary Operations On Monday, June 29, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, June 30, and attracted bids from euro area eligible counterparties of €76.41 billion, €11.82 billion lower 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, July 1, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $0.16 billion, which was allotted in full at a fixed rate of 0.63%. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 90-day and 181-day bills maturing on October 1 and December 31, 2015, respectively. Bids of €10.00 million were submitted for the 90-day bills, with the Treasury accepting €5.00 million, while bids of €20.00 million were submitted for the 181-day bills, which were all accepted. Since €33.00 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €8.00 million, to stand at €222.55 million. The yield from the 90-day bill auction was -0.003%, unchanged from bids with a similar tenor issued on June 26, 2015, representing a bid price of 100.0008 per 100 nominal. The yield from the 181-day bill auction was 0.000%, also unchanged from bids with a similar tenor issued on June 19, 2015, representing a bid price of 100.000 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 90-day bills maturing on October 8, 2015.