After reaching a five-week high of 4,677.502 points yesterday, the MSE Share Index fell by 0.63% today as the drops in the share prices of six equities (including those of IHI, HSBC and RS2) offset the 1.7% gain in Medserv. Meanwhile, another five equities finished the day unchanged. Trading activity across the equity market amounted to €0.4 million.
Five deals totalling 15,900 shares pulled the equity of HSBC Bank Malta plc 1.4% lower back to the €2.05 level. The bank’s Board of Directors is scheduled to meet on July 31 to consider and approve the interim financial statements for the half-year ending June 30, 2017. The directors will also consider the declaration of an interim dividend.
International Hotel Investments plc lost 2.9% to a one-year low of €0.602 across 48,000 shares. Shareholders as at June 27 are entitled to a 3 for 100 bonus share issue.
Among the large companies, RS2 Software plc also performed negatively today with a drop of 1% to the €1.535 level on shallow volumes totalling 4,650 shares. RS2 is due to hold its AGM on June 20.
Low trading activity also took place in the equities of MIDI plc and Grand Harbour Marina plc which fell by 3.1% and 3% to €0.31 and €0.87 respectively. MIDI’s AGM will also be held on June 20.
FIMBank plc eased by 0.6% to the $0.77 level after opening 9.7% lower at $0.70. A total of 45,821 shares traded.
Within the same sector, Bank of Valletta plc maintained the €2.189 level across 40,198 shares.
Six deals totalling 7,992 shares left the equity of Simonds Farsons Cisk plc at its all-time high of €7.60. Farsons is due to hold its AGM on June 27 during which shareholders will consider the proposed spin-off of Trident Estates Ltd into a separate company listed on the Malta Stock Exchange.
Malta International Airport plc also closed flat at the €4.11 level across 3,488 shares. Last Thursday, MIA reported robust growth of +14.4% in the number of passenger movements during the month of May which is equivalent to an extra 12 commercial aircraft carrying a full load of 180 passengers every day.
PG plc maintained the €1.28 level across 55,800 shares whilst Plaza Centres plc held on to the €1.04 level after recovering from an intra-day low of €1.01 on a total of 50,000 shares.
Meanwhile, Medserv plc was the only positive performing equity today with an uplift of 1.7% to the €1.22 level across 9,500 shares.
The RF MGS Index extended yesterday’s minimal decline of 0.02% by a further 0.03% to 1,132.200 points. Eurozone sovereign yields trended lower today despite upbeat employment data. On the other hand, German inflationary data for the month of May was in line with forecasts.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.