Following the declines of the past two days, the share index rebounded by 0.13 per cent to 4,470.295 points today as the gains in six equities outweighed the declines in another three shares.
Trading activity in the local equity market remained subdued as just under €214,000 worth of shares changed hands today.
Today’s highlight was the 1.6 per cent jump in the share price of Simonds Farsons Cisk to a new record high of €6.50 across 7,454 shares.
Recently, the food and beverages company revealed a record pre-tax profit figure of €10.1 million during the financial year ended January. Farsons is due to hold its annual general meeting on June 28.
In the banking sector, HSBC (15,019 shares) and FIMBank (31,500 shares) performed positively, with both advancing by 0.6 per cent to €1.61 and 84c5US respectively.
The HSBC board of directors will be meeting on August 5 to consider and approve the interim financial statements for the half-year ending
June 30 and consider the declaration of an interim dividend.
Medserv recaptured the €1.79 level (+1.7 per cent) across shallow volumes totalling 3,000 shares. Last Thursday, the oil and gas logistics specialist announced that it was awarded a contract by ENI to provide a logistics base and associated services for its exploration activities taking place offshore Portugal for six months with possible extensions.
Mapfre Middlesea and GO also closed higher today on trivial volumes. Mapfre Middlesea advanced by 0.5 per cent to the €2.21 level whilst GO regained the €2.90 level. Tunisie Télécom is shortly expected to publish an offer document in relation to its bid to acquire the entire share capital of GO at a price of €2.87 per share.
Among the large companies, International Hotel Investments shed 1.4 per cent to the 64c level across 9,800 shares. IHI’s AGM will be held on June 9.
Shareholders as at June 27 will be entitled to a bonus share issue of three new shares for every 100 shares held.
Similarly, RS2 Software retreated to its lowest level in over two months as it lost 0.2 per cent to the €3.48 level across 13,666 shares. RS2 is due to hold its AGM on June 23 during which, and among other resolutions, shareholders will be asked to consider and approve a five for three share split (cut-off date: June 30).
Plaza Centres dropped 0.9 per cent from its all-time high of €1.08 as 29,828 shares traded at the €1.07 level. Last week, the company stated that its financial position remained satisfactory and in line with expectations. Occupancy during Q1 2016 increased to 99 per cent and a high level of occupancy is expected to be maintained throughout the year. Moreover, revenue and EBITDA also increased compared to the first quarter of 2015.
Within the same segment, Malita Investments held to the 90c level across 15,100 shares.
Likewise, the share price of Bank of Valletta maintained the €2.24 level on volumes totalling 3,859 shares.
A single deal of just 731 shares left the equity of 6pm Holdings unchanged at the 95p level. The IT services company will be holding its AGM on June 21. In the meantime, shareholders are still awaiting updates regarding the interest of a number of investors to acquire the entire company.
On the bond market, the RF MGS Index edged lower for the third consecutive day as it retreated by 0.07 per cent to 1,148.788 points.
Eurozone bond yields continued to gain ground as data showed that deflation eased in May, paving the way for the European Central Bank to revise its consumer price growth forecasts upward this week for the first time in a year.
Indeed, inflation in the single currency block increased to -0.1 per cent in May year-on-year from -0.2 per cent in April, mainly driven by a rebound in oil prices.
Meanwhile, unemployment in the euro zone held steady at 10.2 per cent in April - the lowest level since August 2011.
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