The MSE Equity Price Index advanced by a further 0.8% to yet another 2-month high of 4,412.680 points on the back of increases in the share prices of BOV, HSBC and IHI. A further four equities trended higher while Malta Properties was the only negative performer on Tuesday.
The share price of HSBC Bank Malta plc moved higher for the second consecutive session with a rise of a further 1.7% to a fresh 2-month high of €1.84 on volumes of 63,834 shares.
Similarly, Bank of Valletta plc added 0.6% to regain the €1.76 level across seven deals totalling 41,550 shares.
Among the large equities by market capitalisation, International Hotel Investments plc jumped 3% to close at a fresh 23-month high of €0.68 across eight deals totalling 50,937 shares. IHI held its annual general meeting this morning during which the Board of Directors declared a net interim dividend of €0.02 per share to all shareholders as at close of trading on Tuesday June 26.
PG plc recovered by 3.2% to recapture the €1.29 level albeit on a single trade of 14,860 shares.
Similarly, shallow trading activity took place in the other positive performing equities with Trident Estates plc up 1.6% to €1.300, Medserv plc gaining 1.9% to €1.06 and Grand Harbour Marina plc jumping 5.3% to close at a new 2018 high of €0.79.
On the other hand, the share price of Malta Properties Company plc eased by 1.8% to the €0.54 level across three deals totalling 8,850 shares.
Meanwhile, RS2 Software plc held on to the €1.17 level on volumes of 32,930 shares. OnTuesday morning, RS2 issued an interim directors’ statement updating the market on its business pipeline including the signing of new processing agreements as well as other two potential contracts which are close to being concluded.
The RF MGS Index trended higher for the fourth consecutive session with a rise of a further 0.1% to 1,104.325 points as the peripheral eurozone yields were supported at previous day’s levels in early trading. However, by this afternoon, yields in Italy and Spain rebounded higher as the new Italian Prime Minister laid out the action plan of the new populist government. On the other hand, the ‘safe-haven’ 10-year German Bund yield slipped back below the 0.4% level.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.