The share index retreated by 0.08 per cent to 4,494.120 points as the declines in IHI and Malta Properties outweighed the gains registered in the equities of Lombard and RS2.
Meanwhile, another six equities closed the day unchanged. Trading volumes surged to €668,000 largely due to heightened activity in Lombard shares.
A single deal of just 3,300 shares forced the equity of International Hotel Investments 2.3 per cent lower to the 65c level.
Malta Properties Company also retreated by 1.6 per cent to the 56c6 level across 30,600 shares. Yesterday, the company issued its 2015 preliminary financial statements showing a net profit figure of €1.86 million (2014: €700,000).
The directors did not recommend a dividend. Furthermore, MPC has today announced that it has been approached by a third party with proposals for a potential mixed-use development which would incorporate the company’s St George's Exchange site in St Julian’s. The board of directors will make additional announcements as and when necessary.
On the other hand, RS2 Software continued to recover from last week’s declines as it edged 0.5 per cent to the €3.66 level across 21,380 shares.
Similarly, Lombard Bank Malta gained 4.7 per cent to the €2.25 level on robust volumes totalling 200,023 shares having a market value of €430,000 – representing nearly 65 per cent of today’s total value traded.
This morning, the bank announced that it has been notified by the special administrator of Cyprus Popular Bank Public Co Ltd (CPB), which, in turn has a 48.9 per cent stake in Lombard, that it has approved the disposal of CPB’s entire holding in the bank. Notice of such a development has also been given to the Malta Financial Services Authority, in line with regulatory requirements.
Also in the banking sector, Bank of Valletta (43,139 shares) and HSBC (3,874 shares) maintained the €2.25 and €1.58 levels respectively.
Similarly, GO and Plaza Centres ended today’s session unchanged at the €3.40 and €1.04,5 levels respectively on shallow volumes.
FIMBank held to the 70cUS level across 18,000 shares. Last week, the trade finance specialist revealed a reduced pre-tax loss figure of $12 million compared to the pre-tax loss of $53.4 million in 2014.
Shareholders as at the close of trading on April 6 will be eligible for a one for 25 bonus issue, subject to regulatory as well as shareholders’ approval.
Two deals totalling 11,420 shares left the equity of Medserv unchanged at the €1.70 level. The company will reveal its 2015 full-year results later today.
On the bond market, the RF MGS Index remained virtually unchanged at 1,152.756 points as the 10-year benchmark German Bund stayed close to the 0.2 per cent level.
On the economic front, recent surveys came in showing mixed signals. Indeed, while the French and German manufacturing sectors were struggling in terms of their respective output and outlook (consistent with the global downturn in manufacturing), German business executives’ sentiment in March improved over the previous month.
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