Issue link: https://maltatoday.uberflip.com/i/668635
maltatoday, WEDNESDAY, 20 APRIL 2016 12 Regular market closed – 19/4/2016 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change ● BOV 14,340 32,444.03 7 2.265 2.260 2.263 2.265 0.000 ▲ FIM 185,000 131,587.02 7 0.740 0.700 0.730 0.740 0.013 ▲ GO 21,436 74,597.28 6 3.480 3.480 3.480 3.480 0.030 ● HSB 18,540 29,676.46 2 1.605 1.600 1.605 1.600 0.000 ▲ IHI 38,351 24,243.84 6 0.640 0.630 0.630 0.640 0.020 ▲ LQS 22,364 2,912.32 4 0.131 0.130 0.130 0.131 0.001 ▼ MIA 14,473 63,212.40 12 4.375 4.350 4.375 4.350 -0.025 ▲ MLT 5,376 4,997.18 2 0.930 0.929 0.929 0.930 0.001 ● MPC 50,500 30,300.00 7 0.600 0.600 0.600 0.600 0.000 ▼ RS2 6,310 23,978.00 2 3.800 3.800 3.800 3.800 -0.025 ▼ G24A 10,000 11,870.00 1 118.700 118.700 118.700 118.700 -0.280 ▼ G28A 30,000 41,232.00 1 137.440 137.440 137.440 137.440 -0.500 ▼ G29B 37,900 41,223.83 1 108.770 108.770 108.770 108.770 -0.730 ▼ G31A 41,500 60,726.95 3 146.330 146.330 146.330 146.330 -0.530 ▼ G33A 29,000 39,251.50 4 135.350 135.350 135.350 135.350 -0.420 ▼ G36AA 598,800 637,557.36 13 106.500 106.470 106.500 106.470 -0.170 ▼ G40A 77,200 85,910.28 7 111.290 111.240 111.290 111.240 -0.290 ▲ 6PM25 29,000 31,778.20 1 109.580 109.580 109.580 109.580 0.010 ● BV30A 25,000 24,875.00 1 99.500 99.500 99.500 99.500 0.000 ▼ BV30B 5,000 4,900.00 1 98.000 98.000 98.000 98.000 -0.990 ● CB21A 18,000 18,720.00 4 104.000 104.000 104.000 104.000 0.000 ▲ IG24A 7,800 8,580.00 1 110.000 110.000 110.000 110.000 0.500 ● IH25A 4,000 4,424.00 2 110.600 110.600 110.600 110.600 0.000 ▼ PC20A 3,000 3,030.30 1 101.010 101.010 101.010 101.010 -2.990 ● PT24A 6,000 6,480.00 2 108.000 108.000 108.000 108.000 0.000 Market Summary as at April 19, 2016 Equity Official List Session State ................................................................... Market Closed Number of trades ............................................................. 98 Volume Traded ................................................................. 1,298,890 Value of € denominated securities .................................... 1,306,920.93 Value of US$ denominated securities ................................ 131,587.02 Value of GBP£ denominated securities .............................. 0.00 Current Index ................................................................... 4,552.402 Previous Index ................................................................. 4,537.048 Change in Index (%) ......................................................... 0.338% 6pm Holdings plc ......................... 0.875 0.00% MaltaPost plc ................................. 1.980 0.00% Bank of Valletta plc ....................... 2.265 -0.22% Medserv plc .................................. 1.799 1.01% FIMBank plc ................................. 0.727 0.00% Mapfre Middlesea plc .................... 2.420 0.00% GlobalCapital plc .......................... 0.339 0.00% MIDI plc ........................................ 0.368 -0.54% GO plc .......................................... 3.450 0.00% Plaza Centres plc ........................... 1.035 0.00% Grand Harbour Marina plc ............. 0.900 0.00% RS2 Software plc ........................... 3.825 0.13% HSBC Bank Malta plc ..................... 1.600 0.63% Simonds Farsons Cisk plc .............. 6.110 0.00% International Hotel Investments plc 0.620 0.00% Tigné Mall plc ............................... 1.150 0.00% Island Hotels Group Holdings plc ... 1.101 0.00% Pefaco International plc ................ 2.240 0.00% Lombard Bank Malta plc ............... 2.180 0.00% Santumas Shareholdings plc ........ 2.350 -0.42% Malita Investments plc .................. 0.929 0.00% Malta Properties Company plc ....... 0.600 1.35% Malta International Airport plc ....... 4.375 0.00% MSE Index Business Today Market Commentary: Oil tanks following failed talks in Doha The recent roller-coaster of an oil market has continued as the price of oil has tumbled more than 5% af- ter output talks failed on Monday. The world's biggest producers con- vened to attempt to reach an agree- ment limiting supplies in order to keep in check the oversupply of the commodity which has dampened prices. The complexities involved in reaching an agreement include Saudi Arabia refusing to curb production unless neighbouring countries including Iran also restrain; which they are refusing to do. The issue is one of market share, a position on which no country seems to want to cede any ground. West Texas Intermediate (WTI) is currently trading at $38.45 in the futures market, down 4.5% from the latest close after falling as much as $37.61 overnight. The failed talks were the first significant attempt between OPEC and non-OPEC countries to agree on a path going forward. The group's inability to agree undermines any prospect of coordinated action to solve the market slump. Analysts of the oil market believe that a lack of a co-ordinated effort between oil producing countries could result in a delay of the rebalancing of the market to 2018, with volatility levels remaining high. Following the meeting, high ranking officials of the participating countries said they weren't surprised there wasn't an agreement as the absence of Iran and the change of position of some countries right before the summit led to "hot discussions". OPEC and non-OPEC producers will meet again hopefully, probably in June, Emmanuel Ibe Kachikwu, Minister of State for Petroleum Resources, told reporters in Doha. Other asset classes reacted negatively to the news, with Asian markets trading lower following the lack of agreement. The negative sentiment carried through to European markets, with most equity bourses down close to 1% at the opening, led lower by energy stocks. The correlation between the two asset classes is one of the strongest in recent history. In credit, sovereign yields are largely unchanged with Italian and Spanish yields 1.5 bps wider to 1.34% and 1.5% respectively. High yield markets are trading softer, with energy and communications names trailing. Looking ahead, focus will be on the ECB press conference tomorrow. No further rate cut is expected, although market participants are looking forward seeing more details around the corporate purchase programme. Speculation remains about the future stance Federal Reserve chair Janet Yellen will take as economic data together with corporate earnings are indicating a strengthening economy. Policy makers are calling for an interest rate hike to help stabilize the financial sector, especially the margins for banks and other credit institutions. Most analysts expect the fed's dovish tone to change to reflect an economy gaining momentum and reaching "full- employment". Taking a look at this week's calendar, we've got a fairly quiet start to the week with the only data of note coming in the afternoon in the US with the NAHB housing market index reading for April. Tuesday in Europe was highlighted by this month's German ZEW survey reading along, while the ECB bank lending survey released this morning will also be worth keeping a close eye on. Over in the US today we've got more housing market data to digest with the March building permits and housing starts data. This article was issued by Rebecca Naudi, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are 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 Investment Services Ltd. has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website. €15 million refurbishment project breathes new life into Hilton hotel Malta Martina Borg Tourism minister Edward Zammit Lewis said that investment by the pri- vate sector is proof of the good state of affairs the country has taken on, particularly for sectors including the economy, job creation and investment. The €15 million investment refurbishment project targeted the renovation of over 290 rooms, new food establishments, as well as new technology for better energy efficiency. Refurbishment projects gave the hotel a new, fresh look, as well as increasing veranda space and making effective use of natural light among others. "I understand the extensive nature of the investment these projects require, however, it is the sector's duty to ensure that tourists can go back to their countries with a positive impression of the country," Zammit Lewis said. Project director Manuel Fenech also explained that the project, finished in a mere ten weeks, had been in discussion for the past three years in response to the changing needs of the industry. Zammit Lewis also made reference to recent statistics that show that Malta had also achieved impressive tourist arrivals during the winter months, which were usually considered weaker, shoulder months. Remarking that the government had targeted such increases in tourism arrivals in its policies, Zammit Lewis pointed out that the first two months of 2016 had marked a significant increase of tourist arrivals (by some 40,500) over January and February of 2013. He added that these increases had also impacted tourist spending, which reached €124 million in the first two months of the year, marking a 28% over the corresponding period in 2013. "Bearing in mind these impressive figures also makes the improvement of our product essential," Zammit Lewis said, adding that now that the sector had established itself as a leading industry, it now had to move on to an ever better and more efficient product. He also referred to the recently announced Eco-Contribution tax, geared at addressing local urban infrastructural and contributing to the overall improvement of the product.