The MSE Equity Price Index slipped by 0.1% to 4,753.363 points as the drops in four equities outweighed the gains in three other shares including BOV and IHI.
Meanwhile, five companies ended unchanged while trading volumes improved to €0.36 million compared to €0.22 million on Thursday.
Medserv plc lost 9.6% to an over four-year low of €0.94 on activity totalling 31,372 shares. Last week, the oil and gas services company reported a sharp increase in adjusted EBITDA for the 2018 financial year reflecting increased business in both its Integrated Logistics Support Services segment as well as the Oil Country Tubular Goods segment.
Furthermore, the directors of Medserv explained that the company continues to be well-positioned to register further growth in the future across various regions. As a result, the directors expressed their optimism that Medserv would manage to double its revenues in 2019 and also register a consequent increase in EBITDA. Medserv is due to hold its AGM on May 27.
Four deals totalling 14,582 shares forced the equity of GO plc to move 2.7% lower back to the €4.28 level. The quadruple play telecom operator is due to hold its AGM on May 28.
In the property segment, Plaza Centres plc retracted to its three-year low of €0.99 on activity totalling 61,500 shares. Plaza is due to hold its AGM on June 5.
Tigné Mall plc eased by 0.5% to the €0.92 level albeit on trivial volumes. Shareholders as at close of trading on June 18 will be eligible to receive a final net dividend of €0.0131 per share.
In contrast, Malita Investments plc rebounded by 1.2% to regain the €0.85 level across 22,700 shares.
International Hotel Investments plc climbed 1.3% to its over three-year high of €0.78 across 18,914 shares. The hotel chain operator is due to hold its AGM on June 13. Shareholders as at close of trading on June 26 will be entitled to receive a net dividend of €0.02 per share.
The other positive performing equity on Friday was Bank of Valletta plc with a gain of 1.1% to the €1.33 level on activity totalling 63,804 shares. Shareholders as at close of trading on June 6 will be entitled to a 1-for-10 bonus share.
Meanwhile, Malta International Airport plc held on to its record high of €7.00 across 2,504 shares. On Tuesday, the airport operator published its traffic results for the month of April revealing a 10.5% increase in passenger movements as well as an improvement in the seat load factor to 83.3%. Since the start of the year, MIA welcomed a total of 1.86 million passengers, representing an increase of 5.3% over the corresponding period last year. MIA’s AGM is due to be held on May 15.
HSBC Bank Malta plc maintained the €1.72 level on insignificant volumes. On Thursday, HSBC issued an Interim Directors’ Statement explaining the performance of the bank in the first three months of 2019. The bank said that pre-tax profits were in line with management expectations but lower than the corresponding period last year due to a higher level of expected credit loss releases registered in Q1 2019 compared to Q1 2018.
Moreover, the growth in retail banking was offset by lower revenue in the commercial banking segment. Conversely, the bank’s cost base contracted on the back of operational efficiencies through digitalisation and process optimisation. HSBC noted that loans and advances to customers increased when compared to the end of 2018 while capital ratios remained strong and above regulatory requirements.
A single deal of 5,000 shares left the equity of Simonds Farsons Cisk plc at its highest since November 2017 of €9.25. On May 15, Farsons is due to publish its results for the financial year ended January 31, 2019.
MIDI plc traded unchanged at the €0.63 level across 13,611 shares. The company is due to hold its AGM on June 11.
BMIT Technologies plc maintained the €0.54 level on activity totalling 25,000 shares. BMIT will hold its AGM on May 27.
The RF MGS Index erased most of the gains registered in the previous two days as it slipped by 0.15% to 1,115.127 points. International financial markets continued to be largely dominated by the various uncertainties related to the current trade dispute between the US and China, with the latest developments now pointing to some optimism that the world’s two largest economies will ultimately find common ground to formalise an agreement.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.