The share index retreated by 0.53 per cent to 4,554.824 points as none of today’s active equities trended in positive territory. In fact, five equities closed in negative territory whilst another five ended unchanged. Total value of equities traded today dropped to nearly €197,000.
Today’s decline in the local equity benchmark was mainly due to the 4.6 per cent decrease in the equity of International Hotel Investments back to the 62c level across 52,260 shares.
Last week, the hotel chain operator announced a three for 100 bonus share issue to all shareholders as at the close of trading on June 27. The company is due to hold its annual general meeting (AGM) on June 9.
Malta International Airport eased 0.6 per cent to the €4.34 level across 4,100 shares. During this morning’s AGM, shareholders approved a number of resolutions including the payment of a final gross dividend of 15c38463 per share (net 10c), payable on May 19.
Yesterday 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.
RS2 Software was the most actively traded equity today. It closed minimally lower at the €3.79,9 level across 29,145 shares having a market value of €0.11 million – representing 56 per cent of today’s total value of equities traded.
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 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).
In the property segment, Malita Investments fell 6.1 per cent to a 14-month low of 86c1 while Malta Properties Company shed 1.4 per cent to the 56c level, both across light trading volumes.
Meanwhile, Tigne’ Mall held on to its all-time high of €1.15 on shallow volumes of 2,600 shares.
Shareholders 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.
The equities of GO and Lombard Bank were also unchanged today at the €3.50 and €2.13 levels respectively across insignificant deals.
In the banking sector, Bank of Valletta (7,336 shares) and FIMBank (5,000 shares) also closed flat at the €2.27 and 76c5US levels respectively.
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.
On the bond market, the RF MGS Index slightly added to yesterday’s gains by a further 0.03 per cent to 1,147.200 points as eurozone bond yields extended their downward trend on renewed deflationary fears despite the unprecedented stimulus measures of the European Central Bank.
Indeed, the 10-year benchmark German Bund yield touched a low of 0.2 per cent today from yesterday’s high of 0.28 per cent. Recent data showed that retail sales in the euro zone area fell by a larger-than-expected 0.5 per cent in March when compared to the previous month. In addition, activity in the services sector remained unchanged for the month of April.
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