The MSE Share Index extended yesterday’s gains of 0.28% by a further 0.31% to 4,666.730 points as the increases in the share prices of HSBC (+2%), MIA (+0.2%) and Malta Properties outweighed the declines in GO (-0.6%), RS2 (-0.3%) and PG (-0.4%). Week-on-week, the Index added a minimal 0.05% after reaching a five-week high on Tuesday.
HSBC Bank Malta plc jumped 2% to regain the €2.09 level across 9,278 shares. The bank is due to issue its six-month financial performance on July 31. The directors will also consider the declaration of an interim dividend.
Malta International Airport plc edged 0.2% higher to the €4.13 level across six deals totalling 10,500 shares.
Following the 4.9% drop last Tuesday, Malta Properties Company plc rebounded by 3.4% to the €0.52 level today. A total of 8,000 shares changed hands.
Low trading activity also took place in the equities of Lombard Bank Malta plc, Tigne’ Mall plc and International Hotel Investments plc. All three shares traded unchanged at €2.30, €1.02 and €0.62 respectively. IHI shareholders as at June 27 are entitled to a 3 for 100 bonus share issue.
Bank of Valletta plc maintained the €2.185 level across 32,425 shares while trading volumes in Malita Investments plc picked-up as a total of 101,800 shares changed hands, leaving the equity at the €0.735 level.
Meanwhile, three other equities trended lower today. The worst performing of the three shares was GO plc with a decline of 0.6% back to the €3.47 level – albeit on a single deal of just 2,000 shares.
RS2 Software plc eased by 0.3% to the €1.53 level across 11,250 shares while four deals totalling 24,000 shares dragged the equity of PG plc 0.4% lower to the €1.29 level. RS2 is due to hold its AGM on June 20.
After reaching a fresh near five-month high of 1,134.680 points yesterday, the RF MGS Index slumped by 0.28% – the sharpest drop in over a month – to 1,131.518 points today.
Eurozone sovereign yields surged markedly despite soft core inflationary data within the single currency area. During the month of May, the inflation rate dropped to -0.1% month-on-month and to +0.9% year-on-year from +0.5% and +1.2% respectively. In addition, the pace of growth in wages across the euro zone slowed to +1.4% in the first three months of this year from a growth of +1.6% in Q4 2016. Despite today’s drop, the RF MGS Index still performed positively week-on-week (the third consecutive weekly uplift) with a gain of 0.22% reflecting the strong gains registered on both Monday and Thursday.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.