Issue link: https://maltatoday.uberflip.com/i/726681
maltatoday, WEDNESDAY, 14 SEPTEMBER 2016 12 Regular market closed – 13/9/2016 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change ▼ BOV 44,692 100,557.00 10 2.250 2.250 2.250 2.250 -0.010 ▼ GO 10,445 32,588.40 3 3.120 3.120 3.120 3.120 -0.030 ▼ HSB 9,261 14,937.18 6 1.620 1.600 1.620 1.600 -0.020 ▲ IHI 7,426 4,752.64 1 0.640 0.640 0.640 0.640 0.016 ▲ MDS 4,900 7,840.00 1 1.600 1.600 1.600 1.600 0.015 ▼ MPC 2,445 1,269.62 2 0.520 0.516 0.520 0.516 -0.024 ● RS2 12,648 20,742.72 5 1.640 1.640 1.640 1.640 0.000 ● SFC 8,174 53,019.25 6 6.500 6.350 6.350 6.500 0.000 ▼ G16B 13,978 14,109.39 1 100.940 100.940 100.940 100.940 -0.080 ▼ G17C 7,000 7,338.10 2 104.830 104.830 104.830 104.830 -0.070 ▼ G19A 34,242 40,864.40 1 119.340 119.340 119.340 119.340 -0.180 ▼ G21A 13,964 17,241.35 1 123.470 123.470 123.470 123.470 -0.210 ▼ G22A 16,306 20,901.03 3 128.180 128.180 128.180 128.180 -0.400 ▲ G22B 151,400 185,692.10 3 122.650 122.650 122.650 122.650 0.030 ▲ G28A 10,000 14,077.00 1 140.770 140.770 140.770 140.770 0.150 ▲ G28B 24,000 33,027.60 3 137.630 137.600 137.630 137.600 0.130 ▲ G29B 135,000 152,118.50 6 112.710 112.610 112.710 112.610 0.070 ▲ G30A 74,200 111,010.62 7 149.610 149.610 149.610 149.610 0.250 ▲ G31A 71,000 107,273.90 6 151.090 151.090 151.090 151.090 0.290 ▲ G32A 6,900 9,956.01 1 144.290 144.290 144.290 144.290 0.300 ▲ G32B 5,000 7,076.50 1 141.530 141.530 141.530 141.530 0.290 ▲ G33A 58,000 80,991.20 3 139.640 139.640 139.640 139.640 0.310 ▲ G34A 16,800 22,940.40 6 136.550 136.550 136.550 136.550 0.330 ▲ G36A 107,000 116,637.20 3 109.010 108.960 109.010 108.960 0.270 ▲ G40A 383,400 448,986.78 17 117.190 116.990 117.000 117.000 0.210 ▲ G41AA 2,281,600 2,449,071.85 64 107.500 106.990 106.990 107.320 0.320 ● BV19A 3,900 4,104.75 1 105.250 105.250 105.250 105.250 0.000 ▲ BV30B 100,000 98,979.79 8 99.490 98.500 98.500 99.490 0.990 ● GH20A 3,400 3,468.00 1 102.000 102.000 102.000 102.000 0.000 ▲ HM24A 29,400 31,164.00 3 106.000 106.000 106.000 106.000 2.500 ● IH25A 9,000 9,720.00 1 108.000 108.000 108.000 108.000 0.000 ▼ IH26A 100,000 103,438.44 5 103.440 103.400 103.400 103.440 -0.060 ▲ MI17A 14,000 14,140.00 3 101.000 101.000 101.000 101.000 1.000 ▲ MI20A 20,500 21,262.50 2 105.000 102.500 102.500 105.000 2.990 ● MI21A 39,600 39,600.00 7 100.000 100.000 100.000 100.000 0.000 ▲ PT24A 20,300 21,708.10 4 107.000 106.900 106.900 107.000 5.000 ● SF20A 4,100 4,284.50 1 104.500 104.500 104.500 104.500 0.000 Market Summary as at September 13, 2016 Equity Official List Session State ................................................................... Market Closed Number of trades ............................................................. 199 Volume Traded ................................................................. 3,853,981 Value of € denominated securities .................................... 4,046,382 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denominated securities .............................. 0.00 Current Index ................................................................... 4,441.442 Previous Index ................................................................. 4,461.060 Change in Index (%) ......................................................... -0.155% 6pm Holdings plc .......................... 0.800 0.00% MaltaPost plc ................................. 1.880 0.00% Bank of Valletta plc ........................ 2.250 -0.44% Medserv plc .................................. 1.600 0.95% FIMBank plc .................................. 0.915 0.00% Mapfre Middlesea plc .................... 2.070 0.00% GlobalCapital plc ........................... 0.499 0.00% MIDI plc ........................................ 0.349 0.00% GO plc ........................................... 3.120 -0.95% Plaza Centres plc ........................... 1.135 0.00% Grand Harbour Marina plc ............. 0.870 0.00% RS2 Software plc............................ 1.640 0.00% HSBC Bank Malta plc ..................... 1.600 -1.23% Simonds Farsons Cisk plc ............... 6.500 0.00% International Hotel Investments plc 0.640 2.56% Tigné Mall plc ................................ 1.040 0.00% Island Hotels Group Holdings plc ... 1.101 0.00% Pefaco International plc ................. 2.240 0.00% Lombard Bank Malta plc ................ 2.200 0.00% Santumas Shareholdings plc ......... 2.350 0.00% Malita Investments plc ................... 0.870 0.00% Malta Properties Company plc ........ 0.516 -4.44% Malta International Airport plc ....... 4.250 0.00% MSE Index Business Today Investment broker Exante gaining from trends in the online market Online brokers are chipping away at the market-share of traditional full- service brokers as traders migrate to their lower-cost models. Since the 2008 crisis, on-line brokers have been gaining ground on the big full- service firms and are expected to at- tract more of their clients and assets in the years ahead. Many investors with large firms have experienced significant portfolio losses since the recession hence they have become more cautious with their investment euros as they seek more control over their investments, so that they can make their own adjustments. The technology and tools available to online brokerage customers and investors has improved greatly over the years, attracting even wealthier and more sophisticated clients. Online brokers offer trading facilities at a fraction of the cost charged by full-service brokers, who charge a premium for offering investment advice and the services of a relationship manager. But the number of people who just want a platform to trade on is slowly rising, with traders being the first to switch from the expensive full- service to the discount model. This is being driven primarily by the shift to online and mobile trading One of these companies who have gained has been Exante Limited, an investment broker which has recieved much priase from the likes of Forbes, FT and Bloomberg presently. In Malta since 2011, the company has outperformed its expectations and now employs over 150 people. "Today's DIY investor needs easy access to the tools and products that will help them make the most of their investment portfolios," said Patrick J. O' Brien, Exante Communication Director. "For example at Exante, investors can enjoy online access to our free research tools, invest in funds, access tax efficient products and trade on the go via the Exante App. With over 50,000 financial instruments to choose from investors can apply online for an account with Exante and if successful, begin trading in over 50 international markets." Brokers certainly have raised their game. But as regular followers of the contest know, most go through hot and cold streaks, so investors should look for durable, long-term out-performance. Online brokers have been gaining in popularity as it has become more common to bank, trade and invest online. New industry rules for 2014 have inadvertently encouraged more people to invest on their own, since they may not like the idea of making upfront payments for financial advice. The self-directed brokerage market continues to evolve as investors increasingly opt for greater control over their investments. Market Commentary: Panic eases? Volatility driven by uncertainty over the future path of US interest rates has made quite a comeback because – guess what – the market felt it was underestimating the odds of a rate hike by the US Federal Re- serve. Last week ended with a broad sell-off in bonds and stocks as traders corrected their positions after a slew of Fed speakers raised expectations of an earlier-than- thought rate hike. Most sovereign bonds hit three-month highs – US 10-year treasuries peaked at just over 1.69%, German bund yields turned positive, and Spanish and Italian yields rose over 20 basis points each. Stocks had a heck of a beating, and European stocks are struggling to recover much ground, whereas US bourses have managed to make up more than half of Friday's losses in the latest session, after Lael Brainard – a voting member of the Federal Reserve Board – called for prudence in raising interest rates. The rally may be difficult to sustain though, as US futures are signalling a hefty drop on the open. Oil has whipsawed – making significant gains on Thursday, giving them all up on Friday, rallying late on Monday and giving back those gains this morning. Good News and Bad News in M&A Yesterday's merger and acquisition highlights include a new merger attempt and a failed one. Talks between German industrial gas group giant Linde and US rival Praxair have ended after disagreements over key roles, locations and activities. Stocks in both companies fell on the news but recovered to levels just above those seen before news of the potential merger hit the wires. In the latest attempt at an agricultural merger, Agrium and Potash Corp agreed to combine in a deal which would create a farming and fertilizer behemoth with a market value in excess of $36 billion. Potash Corp, the world's largest crop nutrient company by capacity and Agrium, the largest farm retailer in North America, said the combined entity would be biggest crop nutrient company in the world, drawing attention and scrutiny from US regulators. Oil Glut Here to Stay Oil bulls look away – the latest supply and demand forecasts for black gold show that the global supply glut is set to persist for longer than previously thought. As consumption from China and India slows down – reigning in the growth rate in demand – supply, particularly from non-OPEC countries looks set to increase. Gulf members of OPEC at pumping at record highs, and OPEC's own forecasts now show that rival supply will increase by around 200,000 barrels per day, or bpd, in 2017. This marks a significant departure from its previous forecast which saw supply decrease by 150,000 bpd in 2017. All-in-all, this means a fourth straight year of supply outstripping demand, and the trend is seen to continue through most of next year. Rebalancing can wait… Cameron Leaves the Commons Former UK Prime Minister David Cameron is resigning his seat in Parliament, after stepping down from the UK top political job in the wake of the Brexit vote. Cameron had previously stated he'd stay on as a Member of Parliament, but his party is now being run in a way which is mostly at odds with his views. He admitted it would not be possible to be a proper backbench MP as a former prime minister with the current political state of things. His resignation will now trigger a by-election in his Witney district. This article was issued by Andrew Martinelli, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt . The information, views 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. Entreprenuer Kris Jes Petersen, Ex- ante's Communication Patrick J O Brien, Pierre Lindn, Co Founder Am- bassador Events at recent event at Verdala Palace.