The MSE Share Index extended its negative streak by a further decline of 0.69% to 4,512.400 points largely due to the declines in RS2 and the three retail banks – HSBC, BOV and Lombard. Trading activity increased to €483,000 mainly following the higher volumes in RS2.
RS2 Software plc extended yesterday’s decline by a further 3.8% to the €3.80 level amid a relatively volatile session. Indeed, the equity opened at a high of €3.93 and touched an intra-day low of €3.75 before settling at the €3.80 level. A total of 40,412 shares changed hands today for a value of €156,000.
HSBC Bank Malta plc traded for the first without the entitlement to the recently declared final gross dividend of €0.026 per share. The equity dropped 2.5% to €1.58 across 25,700 shares.
Also in the banking sector, Bank of Valletta plc and Lombard Bank Malta plc registered declines. BOV retreated by 0.9% to the €2.26 level across 16,551 shares. The deadline for submission of applications in respect of the recently announced BOV €50 million 3.5% Tranche 2 subordinated bonds 2030 issued at par (100%) is this Friday.
A single deal of 20,000 shares in Lombard Bank Malta plc was traded at the €2.15 level, representing a drop of 0.7%. The cut-off date for the receipt of Lombard’s final gross dividend of €0.04 per share is 23 March. This will be paid on 6 May subject to shareholder approval at the upcoming Annual General Meeting scheduled to be held on 28 April. The Directors are also giving shareholders the option to receive the dividend either in cash or by the issue of new shares at the attribution price of €2.18 per share.
Malita Investments plc continued to inch lower as it retreated by a further 1.2% to the €0.95 level across 51,500 shares. Shareholders as at close of trading on Tuesday 22 March will be eligible to a final gross dividend of €0.022 per share (net: €0.0143). This will be paid on 29 April subject to shareholders’ approval during the Annual General Meeting to be held on 26 April.
Mapfre Middlesea plc closed at the €2.49 level (-0.4%) on low volumes.
Meanwhile, International Hotel Investments plc recovered some of the recent declines as it advanced by 1.5% to the €0.66 across 9,200 shares.
FIMBank plc gained 1.5% to the USD0.67 level – the highest since late December 2015 – across 50,557 shares. Yesterday afternoon, the trade finance specialist revealed its 2015 results whereby it reported a pre-tax loss of USD12.0 million compared to the pre-tax loss of USD53.4 million in 2014. The Directors are not recommending the payment of a dividend but will be recommending a 1 for 25 bonus issue to all shareholders as at the close of trading on 8 April. The Annual General Meeting is scheduled to be held on 10 May.
Malta International Airport plc regained the €4.50 level across 8,700 shares. The shares trade cum-dividend until 30 March.
Malta Properties Company plc climbed 1.6% to the €0.579 level on insignificant volumes. The Company will be revealing its 2015 financial results on 21 March.
With the same sector, MIDI plc (7,000 shares) and Tigne’ Mall plc (11,900 shares) maintained the €0.36 and €1.05 levels respectively. MIDI will publish its 2015 results on 28 March. The Board of Directors will also be considering the recommendation of a final dividend.
GO plc briefly traded at an intra-day high of €3.41 before closing unchanged at the €3.40 level. The equity trades with the entitlement to a final net dividend of €0.10 per share until 7 April 2016.
Two deals totalling 6,500 shares left the equity of Medserv plc flat at the €1.69 level. The Board of Directors of Medserv is scheduled to meet on Tuesday 22 March 2015 to consider and approve the financial statements for the year ended 31 December 2015.
On the bond market, the RF MGS Index retreated by 0.09% to 1,147.546 points as eurozone yields gained ground. Indeed, the 10-year benchmark German Bund yield advanced from 0.28% yesterday to 0.30% today. Financial markets will be waiting for developments coming out from the US Federal Reserve’s monetary policy meeting to be held this evening.
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