The share index registered its third consecutive daily gain as it added another 0.18 per cent to close at a near one-month high of 4,578.953 points. Trading activity declined to €312,000 from yesterday’s highest level in six weeks of €568,000.

Bank of Valletta was the most actively traded equity today with 54,409 shares changing hands having a market value of €123,300.

The equity finished 0.2 per cent lower at the €2.27 level after touching an intra-day low of €2.25.

Last Friday, BOV reported an improved net profit figure of €44.6 million for the first six months of its financial year ending September 30.

The directors declared a gross interim dividend of 3c91 per share (net: 2c54). This is payable on May 27 to shareholders as at close of trading on May 10.

Also in the banking sector, Lombard Bank declined by 0.5 per cent to a seven-month low of €2.13 across 2,750 shares. Eligible shareholders will receive the recently approved final gross dividend of 4c per share (net: 2c6) on Friday.

RS2 Software reversed most of yesterday’s gains as it retreated by 1.3 per cent to the €3.80 level across 23,959 shares. Last Thursday, RS2 revealed that its post-tax profits for the year ended December 2015 surged by nearly 70 per cent to €4.87 million (2014: €2.88 million).

The directors recommended a final net dividend of 2c78 per share (2014: 2c22) to all shareholders as at close of trading on May 19 (payable on June 30) subject to approval at the upcoming annual general meeting (AGM) to be held on June 23.

The directors also recommended a bonus share issue of one new share for every 18 shares held (cut-off date: May 19) and a five for three share split (cut-off date: June 30).

Malta International Airport retreated by 0.3 per cent from its three-week high of €4.38 to €4.36,5 on low activity of 1,717 shares.

MIA will be holding its AGM tomorrow, during which shareholders will consider the approval of a number of resolutions including the distribution of a final gross dividend of 10c77 per share (to be paid by May 19).

Early this afternoon, MIA published its traffic results for the month of April revealing a further 5.7 per cent growth in passenger movements to 415,409 following a 3.8 per cent increase in seat capacity.

During the first four months of the year, the airport operator handled a record 1.2 million passenger movements, up by 12 per cent over the corresponding period last year.

Malita Investments slipped 0.3 per cent to a near one-month low of 91c7 across 12,500 shares.

Within the same segment, Malta Properties Company (22,630 shares) and Tigne’ Mall (6,700 shares) retained the 56c8 and €1.15 levels respectively.

Shareholders of Tigne’ Mall as at June 22 will be eligible to receive a final net dividend of 1c25 per share. This is payable on July 12 subject to shareholders’ approval at the upcoming AGM scheduled to be held on June 24.

Medserv maintained the €1.79 level across 12,754 shares. The company will be holding its AGM on May 30.

A single deal of 10,000 shares left the equity of FIMBank unchanged at the 76c5US level. The trade finance specialist is due to hold its AGM on May 10.

In contrast, HSBC gained 0.9 per cent to the €1.63,5 level across 3,828 shares.

Ahead of the publication of the full-year results (covering the 12 months to January 2016) on May 12, Farsons climbed 2.9 per cent to an eight-week high of €6.30 across 1,383 shares.

Mapfre Middlesea and Santumas Shareholdings closed 2.3 per cent and 1.3 per cent higher at €2.25 and €2.38 respectively on shallow volumes.

On the bond market, the RF MGS Index reversed some of yesterday’s losses as it edged up by 0.06 per cent to 1,146.880 points.

Euro zone bond yields slipped amid weaker economic forecasts. Indeed, the 10-year benchmark German Bund yield retreated from a high of 0.28 per cent yesterday to a low of 0.21 per cent today.

In its latest projections, the European Commission said that it is expecting GDP growth in the euro area of 1.6 per cent this year, less than the 1.7 per cent growth of 2015 and also 0.1 percentage points below its February forecast.

GDP is projected to expand by 1.8 per cent in 2017 down from the 1.9 per cent estimate three months ago. Inflation is expected to be 0.2% this year, significantly below the 0.5% increase forecast in February.

www.rizzofarrugia.com

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