Issue link: https://maltatoday.uberflip.com/i/544403
maltatoday, WEDNESDAY, 22 JULY 2015 12 Business Today Regular market closed –21/07/2015 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change s BOV 19,169 43,638.230 7 2.290 2.270 2.270 2.285 0.015 l HSB 300 554.700 1 1.849 1.849 1.849 1.849 0.000 t IHI 10,000 8,400.000 1 0.840 0.840 0.840 0.840 -0.010 s LOM 10,000 19,000.000 1 1.900 1.900 1.900 1.900 0.030 l MIA 10,650 38,329.360 5 3.599 3.599 3.599 3.599 0.000 t MMS 5,137 8,577.680 6 1.670 1.640 1.670 1.640 -0.030 l PZC 67,925 65,208.000 1 0.960 0.960 0.960 0.960 0.000 s G17C 2,000 2,187.400 1 109.370 109.370 109.370 109.370 0.080 s G20E 100,000 105,850.000 1 105.850 105.850 105.850 105.850 0.100 s G20EC 1,000,000 1,057,500.000 1 105.750 105.750 105.750 105.750 0.037 s G22A 13,977 17,541.140 1 125.500 125.500 125.500 125.500 1.430 s G28B 66,600 85,022.340 5 127.790 127.190 127.190 127.790 0.720 s G30A 20,000 27,532.000 1 137.660 137.660 137.660 137.660 0.710 s G31A 50,000 68,885.000 1 137.770 137.770 137.770 137.770 1.120 s G32A 1,000 1,305.800 1 130.580 130.580 130.580 130.580 0.670 s G33A 460,000 584,610.000 3 127.100 127.000 127.000 127.100 0.980 s G34A 60,000 75,000.000 1 125.000 125.000 125.000 125.000 0.590 s G40A 116,800 125,243.240 5 107.750 107.180 107.180 107.750 1.250 l BV18A 16,000 17,280.000 1 108.000 108.000 108.000 108.000 0.000 t BV20A 6,000 6,510.600 1 108.510 108.510 108.510 108.510 -0.250 t CF19A 107,200 112,024.000 4 104.500 104.500 104.500 104.500 -0.500 s IB25A 5,000 5,201.000 1 104.020 104.020 104.020 104.020 0.020 l IH20A 2,500 2,602.500 1 104.100 104.100 104.100 104.100 0.000 l IH25A 600 672.000 1 112.000 112.000 112.000 112.000 0.000 s MO19A 64,000 68,362.180 4 107.000 106.600 106.600 107.000 0.400 l PG22A 85,000 95,200.000 1 112.000 112.000 112.000 112.000 0.000 l PT24A 2,100 2,338.350 1 111.350 111.350 111.350 111.350 0.000 Market Summary as at July 21, 2015 Equity Official List Session State ................................................................... closed Number of trades ............................................................. 58 Volume Traded ................................................................. 2,301,958 Value of € denominated securities .................................... 2,644,575.520 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denominated securities .............................. 0.00 Current Index ................................................................... 4,156.876 Previous Index ................................................................. 4,158.661 Change in Index (%) ......................................................... -0.043% 6pm Holdings plc .......................... 0.760 0.00% Malta International Airport plc ....... 3.599 0.00% Bank of Valletta plc ........................ 2.285 0.66% MaltaPost plc ................................. 1.510 0.00% FIMBank plc .................................. 0.451 0.00% Medserv plc .................................. 2.355 0.00% GlobalCapital plc ........................... 0.800 0.00% Mapfre Middlesea plc .................... 1.640 -1.80% GO plc ........................................... 3.600 0.00% MIDI plc ........................................ 0.340 0.00% Grand Harbour Marina plc ............. 0.938 0.00% Plaza Centres plc ........................... 0.960 0.00% HSBC Bank Malta plc ..................... 1.849 0.00% RS2 Software plc............................ 2.260 0.00% International Hotel Investments plc 0.840 -1.18% Simonds Farsons Cisk plc ............... 4.950 0.00% Island Hotels Group Holdings plc ... 1.020 0.00% Tigné Mall plc ................................ 0.860 0.00% Lombard Bank Malta plc ................ 1.900 1.60% Pefaco International plc ................. 2.190 0.00% Malita Investments plc ................... 0.900 0.00% Santumas Shareholdings plc ......... 2.050 0.00% MSE Index Money Market Report for the week ending July 17, 2015 ECB decisions On Thursday, July 16, the Governing Council of the European Central Bank (ECB) decided that the interest rates on the main refinancing operations (MRO), on the marginal lending facility and on the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20%, respectively. ECB Monetary Operations On Monday, July 13, the ECB announced its weekly MRO. The auction was conducted on Tuesday, July 14, and attracted bids from euro area eligible counterparties of €75.54 billion, €1.07 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, July 15, 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 $0.66 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 272-day bills maturing on October 15, 2015 and April 14, 2016, respectively. Bids of €41.00 million were submitted for the 90-day bills, with the Treasury accepting €15.00 million, while bids of €43.00 million were submitted for the 272-day bills, with the Treasury accepting €5.00 million. Since €20.00 million worth of bills matured during the week, the outstanding balance of Treasury bills remained unchanged at €247.55 million. The yield from the 90-day bill auction was -0.030%, down by 0.5 basis point from bids with a similar tenor issued on July 10, 2015, representing a bid price of 100.0075 per 100 nominal. The yield from the 272-day bill auction was 0.000%, down by 48.8 basis points from bids with a similar tenor issued on July 11, 2014, representing a bid price of 100.0000 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 22, 2015. Market commentary: Markets trade flat on little activity Generally the saying goes that "no news is good news", however in this case it merely translated into very little volatility as yesterday's session was largely unchanged in most financial markets. The S&P 500 closed up 0.08%, briefly pass- ing its record closing high intra-day before retracing gains into the close. It seemed that the energy sector was the Achilles heel, as the recent com- modity rout continued quietly in the background. WTI was trading 1.45% down, and dipped below $50 at one stage for the first time in over 3 months. Gold fell 3.32%, hitting five-year lows, affecting the likes of Newmont Mining and Anglogold, with Barrick Gold, the world's larg- est producer crashing 16% lower to levels not witnessed since the early 90s. In Europe we saw the Stoxx 600 up 0.28%, the German DAX up 0.53% and the French CAC up 0.35%. Europe credit markets also ended a touch better with Crossover 5bps tighter at the close. This morning European stocks slid as a decline in health- care shares outweighed gains in auto companies and commodity producers. Novartis AG fell 2.3 percent after reporting lower sales, dragging a measure of health-related companies to the worst performance of the 19 industry groups on the Stoxx Europe 600 Index. Automakers rose the most on the equity gauge, with Faurecia SA adding 2.1 percent after people familiar with the matter said Europe's biggest maker of car interiors is exploring a sale of its bumpers business. The Stoxx 600 was trading largely flat and on low volume, with shares changing hands 24 percent lower than the 30-day average. A nine-day winning streak pushed the equity gauge to within 2 percent of its record as Greece and its creditors reached an agreement paving the way for a new bailout and the European Central Bank increased emergency liquidity assistance. The nation reopened its banks yesterday after a three- week shutdown. The Athens Stock Exchange remains closed. The Euro Stoxx 50 Index rebounded 12 percent through Monday from a five-month low as concern eased that Greece would leave the currency region. That's led to a record 43 percent slump in a gauge tracking equity-price swings in the past eight days, signaling calmer markets for investors who turn their focus toward earnings. French distiller Remy Cointreau SA slipped 2.3 percent after posting sales that missed analyst estimates, while Tele2 AB dropped 2.7 percent after profit fell short of projections. Zalando SE retreated 5.4 percent after the German online fashion retailer indicated that second-quarter earnings may have declined because of higher costs. EasyJet slipped 1.3 percent after Commerzbank AG reiterated its sell recommendation on the carrier, while also downgrading shares of some European peers amid increasing capacity and falling demand. Commodity producers rebounded after two days of declines, led by gains of at least 2.4 percent in Outokumpu OYJ and Fresnillo Plc. Norsk Hydro ASA advanced 1.5 percent after second-quarter underlying net income beat estimates. It's set to be another quiet day ahead for data, with corporate earnings likely to retain much of the focus as Apple, Microsoft and Verizon are the prominent names who are left to report. 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.