The share index immediately rebounded from yesterday’s 0.26 per cent decline with a 0.3 per cent uplift during this morning’s session to a fresh seven-year high of 4,207.572 points as various equities closed in positive territory. The local equity benchmark ended the week 2.2 per cent higher and closed the month of July up 2.86 per cent higher.
During today’s session, the share price of Lombard Bank Malta edged higher for the fourth time this week with a further three per cent increase to close at the €2.04,9 level for the first time since March 2012. Volumes remained high with a total of 123,986 shares changing hands today.
The share price of the bank’s postal subsidiary, MaltaPost, advanced by 4.5 per cent to reach a fresh all-time high of €1.60 on shallow volumes of 3,364 shares.
Likewise, the equity of Simonds Farsons Cisk reached a new all-time high of €5.25, representing a one per cent increase over the previous closing price, also on low volumes of 2,360 shares.
Malita Investments also featured amongst today’s positive performers with a 2.8 per cent uplift to recapture the 93c level across 3,100 shares. A few minutes prior to the close of today’s session, the company published its interim results covering the six months ended June 30.
Malita reported a 62.8 per cent increase in net profits to €11.5 million on the back of a further €8.1 million uplift in the fair value of investment property and a tax credit of €0.79 million which is largely attributable to the favourable amendment from the newly enacted taxation rules on the capital gains generated upon the transfer of immovable property.
The directors declared a gross interim dividend of 1c44 (net: 0.9c36) to all shareholders as at the close of trading on Thursday. The dividend will be paid on September 11.
In the financial sector, the share price of HSBC ended this morning’s session 0.1 per cent higher at the €1.79,1 level after failing to hold on to an intra-day high of €1.80 on volumes of 15,840 shares. The bank is scheduled to publish its interim results next Monday.
Similarly, the share price of FIMBank edged 3.1 per cent higher to regain the 49c5US level on a single trade of 2,450 shares.
On the other hand, RS2 Software retreated for the fourth consecutive session with a 0.2 per cent drop back to the €2.19 level after only partially recovering from an intra-day low of €2.15 on weak activity of 2,350 shares.
Meanwhile, Bank of Valletta maintained the €2.30 level on volumes of 16,600 shares.
Similarly, GO held on to the €3.50 level on a single trade of 2,000 shares and Malta International Airport retained the €3.95 level across 5,000 shares. On Wednesday evening, the airport operator published its 2015 interim results showing a 6.5 per cent rise in revenue and an 8.3 per cent increase in EBITDA.
Pre-tax profits climbed by 9.6 per cent to a new record of €11.4 million. Despite the increase in profitability, the company’s gross interim dividend was yet again unchanged at 4c62 (net 3c) per share for the eighth consecutive year. The dividend will be paid to shareholders on the register at close of trading on August 10.
Meanwhile on the bond market, the RF MGS Index climbed 0.3 per cent higher to 1,132.389 points as the benchmark 10-year German Bund yield dropped back to the 0.66 per cent level in view of the issues cropping up with respect to Greece’s third bailout.
Moreover, the inflation reading for the month of July at 0.2 per cent was unchanged from the previous month and below expectations. Therefore, the market is now expecting the European Central Bank to continue injecting liquidity into the region’s economy and possibly augment its support in line with the recommendations of the International Monetary Fund.
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