The MSE Share Index moved lower for the second consecutive day as it dropped by a further 0.28% to a four-day low of 4,745.005 points albeit on weak volumes totalling just €0.10 million – the lowest in the last twelve trading sessions. The declines in GO (-3.5%) and Mapfre Middlesea (-1.8%) outweighed the 0.5% gain in Bank of Valletta plc which recaptured its nine-year high of €2.21 across 18,299 shares.
GO plc shed 3.5% to a one-month low of €3.416 on trivial volumes. Shareholders as at 29 March 2017 will be eligible to receive a net dividend of €0.11 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on 3 May 2017.
Ahead of the publication of the 2016 financial results today, the equity of Mapfre Middlesea plc eased by 1.8% to an over two-month low of €2.19 on insignificant volumes.
Meanwhile, four equities traded unchanged. HSBC Bank Malta plc maintained the €2.08 level on four deals totalling 21,643 shares. Shareholders as at 10 March 2017 will be eligible to receive a final net dividend of €0.027 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on 13 April 2017.
Similarly, Malta International Airport plc (1,918 shares) and RS2 Software plc (2,000 shares) held on to the €4.15 and €1.669 levels respectively. Yesterday, MIA issued its February traffic results revealing a 25.2% increase in passenger movements over the same period last year and the fourth consecutive monthly double-digit growth reflecting the expanded winter schedule. On the other hand, the seat load factor drop by 2.6 percentage points to 76.8%. The announcement also revealed that Malta’s airport has been classified in third place from among 84 other European airports in the Airport Service Quality Awards 2016. Shareholders as at 6 April 2017 will be eligible to receive a final net dividend of €0.07 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on 10 May 2017.
Malita Investments plc closed flat at its two-year low of €0.77 on a single deal of just 1,600 shares. Shareholders as close of trading on Friday 24 March 2017 will be eligible to a final net dividend of €0.01482 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on Thursday 27 April 2017.
On the bond market, the RF MGS Index moved lower for the sixth consecutive day today as it fell by a further 0.13% to a near two-week low of 1,120.433 points. Euro zone sovereign yields surged today (bond prices fell) following the issuance of strong economic data showing a 2.8% rebound in German industrial production month-on-month in January (higher than the 2.5% rise as previously forecasted and considerably better than the revised decline of 2.4% in December 2016). Indeed, the 10-year and 20-year benchmark German Bunds advanced to 0.349% and 0.899% respectively from 0.320% and 0.876% yesterday. Meanwhile, the indicative opening bid price of the Central Bank of Malta for the longest-dated stock in issue – i.e. the 2.40% MGS 2041 I – fell by 46 basis points to an all-time low of 98.41% today. This represents a decline of over 334 basis points compared to the issue price of 101.75% in August last year.
This article is brought to you by Rizzo Farrugia Investment Consultants.