MSE Share Index posts 3-day negative streak
Following the declines in the previous two trading sessions, the MSE Share Index kicked-off the week also in negative territory as it slipped by a further 0.05% to a near six-week low of 4,712.679 points. The declines in the share prices of BOV, Malita Investments and GlobalCapital outweighed the gain in MIA. Trading volumes in equities improved to a three-day high of €0.43 million.
Just over half of today’s trading activity took place in the equity of International Hotel Investments plc which maintained the €0.64 level after recovering from an intra-day low of €0.62. A total of 350,000 shares changed hands.
Also among the large companies, a single deal of 5,792 shares left the equity of RS2 Software plc unchanged at the €1.64 level.
In the property segment, Malta Properties Company plc, MIDI plc and Plaza Centres plc also closed flat today on light volumes. MPC and MIDI held on to the €0.52 and €0.33 levels respectively. MPC is due to reveal its 2016 financial results tomorrow whilst MIDI will follow on 20 April 2017. On Friday, MIDI revealed that it appointed Jefferies International Limited as financial advisor for the purposes of identifying and selecting a suitable strategic partner to financially support the development of Manoel Island.
Plaza Centres plc maintained its two-month low of €1.07 across 1,000 shares. Shareholders as at close of trading on Wednesday 26 April 2017 will be eligible to a final net dividend of €0.0294 per share.
In contrast, Malita Investments plc dropped 0.7% to an over two-year low of €0.755 on two deals totalling 2,000 shares. Shareholders as at close of trading on Friday 24 March 2017 will be eligible to a final net dividend of €0.01482 per share.
Following last week’s slump of 11.4%, GlobalCapital plc eased by a further 2.9% to an all-time low of €0.34 albeit on trivial volumes.
Bank of Valletta plc edged 0.5% lower to the €2.19 level across 44,056 shares.
On the other hand, HSBC Bank Malta plc (40,360 shares) finished the day minimally higher at the €2.051 level whilst Malta International Airport plc recaptured the €4.15 level across 1,600 shares. Shareholders of MIA as at 6 April 2017 will be eligible to receive a final net dividend of €0.07 per share.
On the bond market, following last Friday’s sharp decline of 0.47%, the RF MGS Index rebounded by 0.12% to 1,110.980 points. Euro zone sovereign yields retreated today (bond prices went up) as fresh data showed that producer prices in Germany rose by less than expected. In fact, the 10-year and 20-year benchmark German Bund yields fell to 0.452% and 0.92% respectively from 0.474% and 0.938% last Friday. Meanwhile, an index gauging labour costs in the single currency area showed that wages grew by 1.6% year-on-year in Q4 2016 – in line with estimates and higher than the revised 1.4% growth in the preceding quarter.
This article was provided by Rizzo Farrugia Investment Consultants.