Following the minimal changes in the previous three trading sessions, the MSE Share Index gained 0.28% today to reach an over six-week high of 4,679.665 points. Five equities closed higher, three closed unchanged whilst only GO plc performed negatively with a drop of 0.3% to the €3.46 level on just two deals totalling 2,000 shares.

Most of today’s trading activity took place in RS2 Software plc which advanced by 1.9% to an over four-month high of €1.59 on strong volumes totalling 172,500 shares. The company paid the recently approved final net dividend of €0.01 per share today. Trading in the newly issued shares following a 1-for-12 bonus share issue was possible as from today.

Also among the large companies by market capitalisation, Bank of Valletta plc added 0.3% to the €2.195 level across 42,016 shares while HSBC Bank Malta plc gained 0.5% to recapture the €2.08 level on a total of 10,598 shares. HSBC is due to publish its 2017 half-year results on July 31. The directors will also consider the declaration of an interim dividend.

In the property segment, Malta Properties Company plc and Midi plc trended 1.8% and 1.6% higher to the €0.52 and €0.31 levels respectively, albeit on shallow volumes.

Very low trading activity also took place in the equity of PG plc which maintained the €1.299 level.

A single deal of 3,975 shares left Mapfre Middlesea plc at the €1.95 level while Malta International Airport plc also finished the day flat at the €4.15 level after recovering from an intra-day low of €4.135 (-0.4%) across 7,170 shares.

The RF MGS Index moved higher for the third consecutive day as it added a further 0.05% to a fresh five-month high of 1,137.064 points. The opening indicative bid prices of the Central Bank of Malta for the two longest-dated Malta Government Stocks issued last February – i.e. the 1.50% MGS 2027 I offered at 100.5% and the 2.20% MGS 2035 I offered at 100.25% – reached new highs of 103.48% and 105.16% respectively.

On the economic front, the result of a survey measuring the level of consumer confidence in the eurozone reflected heightened optimism. On the other hand, the level of activity amongst French businesses declined marginally.

www.rizzofarrugia.com

Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.