The share index erased most of yesterday’s decline as it rebounded by 0.29% to 4,680.762 points during today’s session, largely reflecting the gains in the share prices of RS2 (+2.7%) and HSBC (+1.1%) which offset the drops in BOV (-0.2%), MIA (-0.8%) and PG (-0.3%).
Most of today’s trading activity took place in the equity of RS2 Software which climbed 2.7% to its highest level since early January 2017 of €1.69 (marginally below its 2017 high of €1.69,8) on strong volumes totalling 123,635 shares – representing 57% of the €0.36 million worth that traded today.
Medserv also continued to recover from its recent declines as it added a further 1.1% to recapture the €1.30 level across 9,500 shares
A single deal of just 3,000 shares lifted the equity of Santumas Shareholdings plc to yet another record high of €2.
In the retail banking sector, HSBC advanced 1.1% to regain the €2.07,5 level on three deals totalling 6,275 shares.
On the other hand, Bank of Valletta moved back to the €2.18 level (-0.2%) across 43,290 shares. Yesterday, the bank announced the change in its accounting year end from September 30 to December 31.
Consequently, the current financial year 2017 will, exceptionally, have a duration of 15 months covering the period from October 1 to December 31. Nonetheless, by the end of October, BOV will still issue its financial statements to September 30.Thereafter, the preliminary statement of financial results for the full fifteen-month period from 1 October 2016 to 31 December 2017 will be published by end of March 2018. The Bank revealed that the payment of any further dividend for the current financial year will be based on the results of the full fifteen-month financial period ending 31 December 2017.
Thereafter, the preliminary statement of financial results for the full 15-month period from October 1 to December 31 will be published by end of March 2018.
The bank revealed that the payment of any further dividend for the current financial year will be based on the results of the full fifteen-month financial period ending December 31.
Malta International Airport also trended in negative territory today at it slipped 0.8% back to the €4.10 level albeit on shallow volumes totalling 927 shares.
PG continued to trade within a tight range as the equity eased by 0.3% to the €1.29,5 level across 10,300 shares.
A single deal of 16,666 shares left the equity of Malita Investments unchanged at the 74c level.
Following yesterday’s minimal decline of 0.04%, the RF MGS Index inched 0.03% higher today. Eurozone sovereign yields were slightly higher this morning when compared to yesterday’s levels.
However, yields surged considerably higher after ECB President Mario Draghi stated that the central bank might begin reducing its stimulus programme as economic prospects in Europe improve.
Nonetheless, he reiterated that any change in the bank's monetary policy would be gradual as "considerable" monetary support is still needed with core inflation remaining below the target level of close but below the 2% level.
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