Following the declines of the past two days, the share index rebounded by 0.28 per cent to 4,549.216 points as the gains registered in four equities outweighed the declines in HSBC and MPC.
Another five shares were active today, all of which closed unchanged. Trading activity improved to €247,000 but still remained below the average turnover level since the start of the year.
FIMBank was the best performing equity today with a jump of 2.6 per cent to the 80cUS level – the highest level in nearly three years – across 70,000 shares.
Yesterday, the trade finance specialist held its annual general meeting (AGM) during which shareholders approved a number of resolutions including a one for 25 bonus share issue.
The positive sentiment this morning was probably as a result of the remarks by the top executives that the bank continued to register positive results during the first four months of the year.
Among the large companies, GO and Malta International Airport also closed in positive territory today. GO regained its eight-month high of €3.60 (+1.4 per cent) across 5,307 shares while MIA advanced 0.5 per cent to the €4.36 level across 7,581 shares.
GO held its AGM this morning, during which shareholders approved a number of resolutions including the payment of a final net dividend of 10c per share. This is going to be paid on Friday.
Two deals totalling 8,300 shares lifted the equity of Medserv two per cent higher to the €1.79,5 level. The oil and gas logistics company is due to hold its AGM on May 30.
On the other hand, Malta Properties Company retreated by 1.4 per cent to the 55c2 level across 3,550 shares. Yesterday, MPC issued an announcement saying that, throughout the last few months, revenue streams have remained stable and in line with expectations. Furthermore, the company is continuing to embark on its strategy of redeveloping a number of its properties.
HSBC failed to hold on to its intra-day high of €1.62 (+1.3 per cent) as it closed 0.3 per cent lower at the €1.59,5 level. A total of 7,088 shares changed hands today.
In contrast, Bank of Valletta (13,602 shares) recovered from an intra-day low of €2.23,5 to finish unchanged at the €2.25 level despite trading ex-dividend as from today. The net interim dividend of 2c54 per share will be paid on May 27.
International Hotel Investments (48,000 shares) and RS2 Software (12,493 shares) maintained the 62c and €3.79 levels respectively. RS2 shareholders as at close of trading on May 19 will be eligible to receive the recently recommended final net dividend of 2c78 per share (payable on June 30) subject to approval at the upcoming AGM to be held on June 23.
The directors are also recommending 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).
MIDI touched an intra-day low of 36c before closing flat at the 38c9 level. Only 8,500 shares changed hands today ahead of the AGM taking place tomorrow.
Loqus Holdings traded for the first time in three weeks, with the equity maintaining the 13c1 level on trivial volumes.
On the bond market, the RF MGS Index lost some of yesterday’s gains as it retreated by 0.11 per cent to 1,146.758 points. While the 10-year benchmark German Bund yield slipped from 0.14 per cent yesterday to 0.11 per cent today, the corresponding yields on the Italian and Spanish papers gained ground, largely reflecting the expectation of a new very long-dated issue of Spanish debt on the primary market.
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