Issue link: https://maltatoday.uberflip.com/i/707940
maltatoday, WEDNESDAY, 27 JULY 2016 12 Regular market closed – 26/7/2016 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change ● BOV 23,129 50,897.00 7 2.201 2.200 2.201 2.200 0.000 ▼ FIM 110,000 110,000.00 2 1.000 1.000 1.000 1.000 -0.018 ▼ GO 13,000 36,620.00 4 2.820 2.800 2.820 2.800 -0.020 ▲ HSB 3,500 5,552.64 3 1.590 1.580 1.590 1.590 0.010 ▲ MDI 15,800 5,988.20 2 0.379 0.379 0.379 0.379 0.002 ▼ MIA 495 2,093.85 1 4.230 4.230 4.230 4.230 -0.020 ● RS2 500 1,000.00 1 2.000 2.000 2.000 2.000 0.000 ▼ G17C 14,500 15,283.00 1 105.400 105.400 105.400 105.400 -0.020 ▲ G19C 1,000 1,094.00 1 109.400 109.400 109.400 109.400 0.100 ● G20B 26,000 30,429.70 4 117.060 117.000 117.000 117.050 0.000 ● G22A 9,224 11,882.36 1 128.820 128.820 128.820 128.820 0.000 ▼ G22B 31,000 38,186.80 4 123.330 123.100 123.330 123.100 -0.150 ▲ G23A 23,294 31,353.72 1 134.600 134.600 134.600 134.600 0.100 ▲ G28A 4,000 5,589.20 1 139.730 139.730 139.730 139.730 0.130 ▲ G28B 47,500 64,808.90 5 136.540 136.400 136.400 136.540 0.120 ▲ G29A 20,000 28,998.00 2 144.990 144.990 144.990 144.990 0.130 ▼ G29B 2,289,200 2,541,781.34 33 111.200 111.000 111.020 111.000 -0.040 ● G30A 147,700 218,571.00 6 148.000 147.900 147.900 148.000 0.000 ▲ G31A 31,700 47,241.00 3 149.040 149.000 149.000 149.040 0.140 ▲ G32A 80,200 113,908.46 6 142.080 142.000 142.000 142.080 0.070 ▼ G32B 119,500 166,307.00 5 139.400 139.000 139.150 139.250 -0.050 ▼ G34A 179,000 240,008.20 8 134.130 134.080 134.080 134.130 -0.050 ▼ G36A 3,375,500 3,595,849.34 52 106.550 106.200 106.200 106.490 -0.070 ▲ G40A 956,800 1,083,781.78 53 113.650 111.990 111.990 113.570 0.570 ▼ BV18A 15,000 15,727.50 1 104.850 104.850 104.850 104.850 -0.950 ▲ CF26A 10,000 10,448.84 3 104.500 104.480 104.480 104.500 1.770 ● GF21A 7,500 7,875.00 1 105.000 105.000 105.000 105.000 0.000 ▼ HM24A 1,000 1,057.00 1 105.700 105.700 105.700 105.700 -0.100 ● HP25A 45,000 48,600.00 12 108.000 108.000 108.000 108.000 0.000 ▲ IG24A 5,000 5,400.00 1 108.000 108.000 108.000 108.000 1.000 ● IH23A 4,500 4,815.00 1 107.000 107.000 107.000 107.000 0.000 ▼ IH25A 1,500 1,620.00 1 108.000 108.000 108.000 108.000 -0.900 ● MB24A 23,000 24,414.50 1 106.150 106.150 106.150 106.150 0.000 ● MI17B 52,600 52,600.00 4 100.000 100.000 100.000 100.000 0.000 ▲ MI17C 75,300 75,238.83 3 99.990 98.500 98.500 99.990 1.490 ● MI21A 4,100 4,100.00 1 100.000 100.000 100.000 100.000 0.000 ● MO19A 4,700 4,751.70 1 101.100 101.100 101.100 101.100 0.000 ▼ MS26A 5,000 5,225.00 1 104.500 104.500 104.500 104.500 -0.600 ▼ PT24A 9,000 9,606.60 1 106.740 106.740 106.740 106.740 -0.160 Market Summary as at July 26, 2016 Equity Official List Session State ................................................................... Market Closed Number of trades ............................................................. 239 Volume Traded ................................................................. 7,785,742 Value of € denominated securities .................................... 8,480,866.63 Value of US$ denominated securities ................................ 185,238.83 Value of GBP£ denominated securities .............................. 52,600.00 Current Index ................................................................... 4,458.671 Previous Index ................................................................. 4,463.750 Change in Index (%) ......................................................... -0.114% 6pm Holdings plc .......................... 0.850 0.00% MaltaPost plc ................................. 1.900 0.00% Bank of Valletta plc ........................ 2.210 0.45% Medserv plc .................................. 1.800 0.00% FIMBank plc ................................. 1.019 0.00% Mapfre Middlesea plc .................... 2.010 0.00% GlobalCapital plc .......................... 0.499 0.00% MIDI plc ........................................ 0.377 0.00% GO plc .......................................... 2.820 0.00% Plaza Centres plc ........................... 1.100 0.00% Grand Harbour Marina plc ............. 0.900 0.00% RS2 Software plc ........................... 2.010 0.50% HSBC Bank Malta plc ..................... 1.570 0.58% Simonds Farsons Cisk plc .............. 6.250 -0.48% International Hotel Investments plc 0.650 -4.41% Tigné Mall plc ............................... 1.050 0.00% Island Hotels Group Holdings plc .. 1.101 0.00% Pefaco International plc ................ 2.240 0.00% Lombard Bank Malta plc ............... 2.250 0.00% Santumas Shareholdings plc ........ 2.350 0.00% Malita Investments plc .................. 0.890 0.00% Malta Properties Company plc ........ 0.507 0.00% Malta International Airport plc ....... 4.250 0.00% MSE Index Business Today Market Commentary: A cautious start Asian and European stocks were mixed on Monday, and bourses in the US ended lower as the week kicked off on a cautious note ahead of mone- tary policy meetings in the US and Ja- pan later on this week. No immediate action is expected from both countries just yet, but investors will certainly be looking for clues about what may be around the corner. In the US policy is on a tightening course and another in- terest rate hike should be on the cards for this year, but global macroeco- nomic factors may induce Fed Presi- dent Janet Yellen to hold off for a few more months. In Japan some form of stimulus is largely expected although it is unclear whether the Bank of Japan will play any part in it. A fall in oil prices also reverberated in the markets. Crude oil fell to levels last seen in May amid worries that oversupply would weigh on the markets for a protracted period of time. The US dollar strengthened while most benchmark government bonds in the Eurozone, the US and Japan saw an uptick in prices as an over-the-weekend G20 saw strong commitments towards bolstering growth using all possible "monetary, fiscal and structural" tools. The pound sterling has been hovering at two- week lows, while the yen strengthened significantly over the past two days. In company specific news, Sprint saw a huge jump of over 25% in its share price after its first-quarter revenue beat estimates and the company said it had enough money to fund its business this year. On the other end of the scale, Nintendo fell by 17% – the maximum allowable drop in Tokyo. The drop comes after the company said that, despite the hugely successful launch of Pokemon Go, it expects limited impact on its bottom line. According to an estimate by Macquarie Securities, Nintendo only has an "effective economic stake" of just 13% in the Pokemon Go app, despite being a shareholder in both the game developer and the cartoon brand. Verizon Buys Yahoo! After a lengthy saga, Yahoo! has finally found a buyer in Verizon who paid $4.8 billion for the core assets of what was once the dominant force in the Internet space. The US wireless carrier, who last year bought AOL for roughly the same price, hopes to gain an edge in mobile content and advertising thanks to a combined subscriber base of over 140 million subscribers. Yahoo! Will keep operating mainly through its hugely successful investment in Alibaba – the company had invested $1 billion in the e-commerce giant in 2005. In another sale story, LVMH Moët Hennessy Louis Vuitton, the world's largest luxury conglomerate is selling a fashion brand for only the second time in its almost 30-year history. The French company agreed to sell the Donna Karan International brand to US-based G-III Apparel Group. G-III is a manufacturing and licensing company that owns Andrew Marc, Vilebrequin and Bass. It also holds the licences for Calvin Klein and Tommy Hilfiger amongst others. The deal has been valued at around $650 million, based on stock market valuation plus net debt. LVMH had bought the brand in 2001, five years after it went public for roughly the same figure it is selling it for now. The only other brand which was sold off by LVMH was Christian Lacroix in 2005. This article was issued by Andrew Martinelli, trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt . The information, views and opinions carried 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. BP profi ts down by 44% as oil prices plummet BP profits have plunged 44% to $720m in the second quarter of 2016, as low crude prices continue to affect the energy sector. Oil companies have rushed to cut costs and curtail investment after oil prices fell to a 12-year low in January, resulting in tens of thousands of job losses in the UK alone. BP boss Bob Dudley said: "Compared with a year earlier, the underlying second-quarter result was impacted by lower oil and gas prices." Referring to BP's cost-cutting programme, he added: "We are delivering significant improvements to the business that will stick at any oil price. We are now well down the path of transforming our business to compete, whatever the future holds. We now see a much stronger outlook for BP and are focused on growth, both for this decade and beyond." BP also booked a $2.8bn charge linked to costs associated with the Deepwater Horizon oil spill. The total cost of the 2010 disaster in the Gulf of Mexico now stands at around $61.6bn, with BP saying it has drawn a line under the payouts. The group has also been slashing costs and axing jobs, cutting around 10% of its workforce to offset tough trading. Oil prices fell to a three-month low on Monday amid concerns of a global oversupply of crude and natural gas. Brent crude fell 2.1% to $44.75 per barrel. "The sigh of relief emanating from BP HQ is almost palpable as the Gulf of Mexico spill is finally consigned to the history books," said Richard Hunter, head of research at Wilson King Investment Management in London. "This is not to say that the challenges are over, not least of which is an underlying oil price still markedly short of the level which would provide comfort for the company." Bernard Looney, BP's new chief of exploration and production, told investors recently that the company planned to deliver new production of 800,000 barrels of oil equivalent a day by 2020, which includes 500,000 barrels by the end of 2017. "As we look forward we expect the external environment to remain challenging, but we have a strong pipeline of new projects," said Dudley. Second-quarter profi ts at oil giant BP have almost halved from a year earlier as the company suffered from lower oil prices and weak refi ning margins