The share index started the week in negative territory with a 0.4 per cent drop to 4,469.318 points largely due to the declines in the share prices of MIA and RS2 Software as both equities retreated from their respective all-time highs.
The equity of RS2 Software ended this morning’s session 2.1 per cent lower at the €3.26 level after briefly touching a new all-time high of €3.35 across a total of 15,250 shares.
Malta International Airport also failed to hold on to its all-time high as the equity shed 1.6 per cent to drop back to the €4.23 level across 4,220 shares. MIA is scheduled to publish its 2015 preliminary financial results on February 24.
The other negative performers of today’s trading session were Mapfre Middlesea and MaltaPost as the equities closed at the €2.20 (-5.6 per cent) and €1.85 (-2.6 per cent) levels respectively albeit on shallow volumes. The postal operator will be paying its recently approved final net dividend of 4c per share on February 12.
On the other hand, the two largest companies by market capitalisation – Bank of Valletta and HSBC – closed this morning’s session in positive territory. The equity of BOV edged 0.8 per cent higher to regain the €2.24,8 level across high volumes totalling 50,668 shares.
Similarly, HSBC advanced by 0.5 per cent to the €1.74 level despite failing to hold on to an intra-day high of €1.77,1 across a total of 8,212 shares. The bank is expected to announce its 2015 preliminary full year results on February 22.
The equity of Malta Properties Company also performed positively with an uplift of 0.9 per cent to recapture the 57c5 level across 39,850 shares.
Meanwhile, GO and Farsons traded unchanged at the €3.10 (27,500 shares) and €6 (1,349 shares) levels respectively.
Today marked the closure of subscription for Medserv's rights issue offer to eligible shareholders. Last Friday, the company announced the results of its intermediaries’ offers for a €30 million bond issue (which was over-subscribed) and the rights not being taken up by the two largest shareholders.
Moreover, Medserv also unveiled that it was awarded two full service logistics contracts offshore Libya having an estimated value of between of €2 to €3 million. These are expected to commence in the second quarter of 2016 and will require Medserv to utilise both their Malta Base facilities and their Libyan Branch.
On the bond market, the RF MGS Index closed virtually unchanged at 1,137.467 points (-0.02 per cent) as the benchmark 10-year German Bund yield only marginally increased from the 0.48 per cent level of last Friday to the 0.49 per cent level today. The European Central Bank is scheduled to hold its first monetary policy meeting of 2016 on Thursday.
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