The MSE Equity Price Index erased some of Monday’s decline as it climbed by 0.34% to 4,836.080 points. Various equities trended higher, including IHI, MIA and Medserv. On the other hand, Farsons ended lower while a further six shares closed the day unchanged. Trading activity contracted to €0.32 million compared to almost €0.42 million on Monday.
Malta International Airport plc added 1.3% to the €7.60 level across 6,476 shares.
Medserv plc regained the €1.13 level (+1.8%) across 6,900 shares and International Hotel Investments plc surged 3.7% to a new 4-year closing high of €0.84 albeit on trivial activity. 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.
In the property segment, Trident Estates plc moved to a new 2019 high of €1.69 (+0.6%) across 1,944 shares. The company is due to hold its AGM on June 25.
Malta Properties Company plc advanced by 0.8% to the €0.625 level on activity totaling 21,650 shares. MPC’s AGM is scheduled to be held on June 11.
In contrast, MIDI plc traded unchanged at the €0.60 level across 54,900 shares. MIDI is due to hold its AGM on June 11.
A single deal of just 3,700 shares left the equity of BMIT Technologies plc at the €0.54 level.
Likewise, Grand Harbour Marina plc maintained the €0.74 level across 20,250 shares. On Monday, GHM published an updated Financial Analysis Summary showing that the company is expecting to register a near 15% increase in EBITDA in 2019 reflecting the implementation of new accounting standards governing the recognition of lease expenses as part of finance costs instead of operational expenses.
Bank of Valletta plc (36,734 shares) and HSBC Bank Malta plc (1,647 shares) maintained the €1.34 and €1.65 levels respectively. On Monday, BOV announced that it has submitted an application requesting the approval for admissibility to listing of a new €50 million unsecured and subordinated bonds having a coupon of 3.75% and maturing between 2026 and 2031. The bonds are intended to further strengthen the bank’s capital base.
GO plc opened lower at €4.28 (-0.5%) but rebounded during the trading session to close flat at the €4.30 level on a total of 19,610 shares. On Tuesday, GO held its AGM during which shareholders approved all resolutions placed on the agenda including the payment of a net dividend per share of €0.14.
Meanwhile, Simonds Farsons Cisk plc erased some of its recent rally as the equity fell 3.7% back to the €10.50 level across 5,545 shares. The food and beverages company is due to hold its AGM on June 24.
The RF MGS Index extended its recent positive trend as it moved higher for the fifth consecutive day to 1,119.935 points – the highest level since mid-December 2017. Prices of various Malta Government Stocks reached new record highs as sovereign bond yields in the euro area remained under considerable downward pressure with the benchmark 10-year German Bund yield now approaching its all-time low of minus 0.2%.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.