The MSE Equity Price Index moved slight higher on Tuesday as it gained 0.03% to 4,481.517 points. Although activity was spread across 17 equities, the total value of trades was relatively weak at €0.41 million.
The most significant development on the local equity market today was the 7% plunge in the equity of RS2 Software plc to an over 15-month low of €1.32 across six deals totalling 21,472 shares.
Bank of Valletta plc continued to trade within a tight range as it slipped by 0.5% to the €1.81 level across 42,070 shares.
GO plc lost 1.7% to the €3.54 level across 3,000 shares whilst nine deals totalling 31,735 shares forced the equity of Medserv plc 3.3% lower back to the €1.16 level.
In the property segment, Midi plc eased by 0.6% to the €0.346 level on heightened activity totalling 264,706 shares.
Plaza Centres plc and Malta Properties Company plc also performed negatively on Tuesday. Plaza dropped by 1% to the €1.01 level (13,200 shares) whilst MPC ended the day 1.9% lower the €0.505 level (32,952 shares) after opening at the €0.50 level (-2.9%).
In contrast, Trident Estates plc climbed 3.9% to the €1.61 level albeit on just 1,749 shares.
PG plc added 1.5% to the €1.37 level across 28,520 shares. On Monday, PG announced that its fully-owned subsidiary PG Developments Limited acquired the property that is commonly known as the “United Macaroni Factory” which is located in Qormi Road, Marsa. The property covers an area of around 3,200 sqm and the value of the transaction is €3.5 million. PG intends to develop this property into commercial premises, principally consisting of office space for rent. Development applications are expected to be submitted to the Planning Authority in the near future.
HSBC Bank Malta plc regained the €1.80 level (+0.6%) across 12,155 shares while Grand Harbour Marina plc rebounded by 1.4% from its all-time low of €0.72 to the €0.73 level on two deals totalling 38,947 shares.
Loqus Holdings plc and Mapfre Middlesea plc also posted gains albeit on trivial volumes. On the other hand, MaltaPost plc maintained the €1.91 level on just 134 shares.
A single deal of 28,778 shares left the equity of International Hotel Investments plc at the €0.63 level.
Lombard Bank Malta plc maintained the €2.30 level across 5,329 shares and Santumas Shareholdings plc held on to its all-time high of €1.51 (10,000 shares).
The RF MGS Index rebounded strongly from its near 11-month low of 1,109.187 points as it climbed by 0.26% to 1,112.086 points. Eurozone sovereign yields dropped on Tuesday amid a significant sell-off in equity markets across the globe.
Meanwhile, during his address to the European Parliament, ECB President Mario Draghi reportedly stated that the central bank “cannot yet declare victory” towards its objective of achieving a sustainable level of inflation.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.