The MSE Equity Price Index extended last Monday’s gains as it added a further 0.49 per cent to 4,302.162 points, mostly driven by the increases in the share prices of IHI and MIA, which outweighed the declines in MPC and RS2.
International Hotel Investments plc surged by 4 per cent to the €0.645 level on 12 deals totalling 106,504 shares. Last Friday, IHI reported a net profit of just over €12 million compared to a net loss of €7.7 million in the previous comparable period, reflecting improved performances of the group’s various properties as well as a lower incidence of impairments on property values.
Malta International Airport plc regained the €4.90 level (+1.2 per cent) across 2,030 shares. The airport operator is due to hold its annual general meeting on May 8, 2018.
Malita Investments plc also added 1.2 per cent to the €0.84 level on four deals totalling 20,000 shares.
PG plc rebounded by 0.8 per cent from its 2018 low of €1.30 to the €1.31 level across 17,130 shares.
The other positive performing equity on Wednesday was GO plc with a gain of 0.6 per cent to the €3.46 level, albeit on trivial volumes. The company’s AGM is scheduled to be held on May 14, 2018.
Low trading activity also took place in the equity of Malta Properties Company plc which dropped by 3.8 per cent back to the €0.45 level.
RS2 Software plc slipped by a further 0.8 per cent to the €1.26 level across 16,700 shares. Last week, RS2 reported a net profit of €0.61 million for the financial year ended December 31, 2017. The directors are recommending the payment of a net dividend of €0.0146 per share to shareholders as at close of trading on May 16, 2018. The company explained that it has intensified its efforts on expanding its client base. In fact, it secured strategic deals for its managed services which will secure substantial revenue for the group once the customers move into production.
Bank of Valletta plc retained the €1.73 level across 27,000 shares. The bank is scheduled to hold its AGM on Thursday May 10, 2018.
The RF MGS Index added 0.06 per cent to 1,116.753 points as euro bond yields remained relatively volatile ahead of the US Federal Reserve monetary policy meeting to be held on Wednesday.
Following the publication on April 25, 2018 of a prospectus by Main Street Complex plc in connection with the issuance of 5,230,769 new ordinary shares and an offer of 7,538,460 ordinary shares from existing shareholders at a price of €0.65 per share, the offer period is taking place between 2 and 16 May 2018.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.