The share index eased by 0.17% to a near one-week low of 4,716.834 points. Trading activity was spread across 11 equities: four moved lower, another four closed unchanged while only three shares registered gains. Volumes improved to a four-day high of €0.35 million.
Simonds Farsons Cisk advanced by 0.6% to yet another all-time high of €7.75 on a single deal of 1,381 shares.
Bank of Valletta recaptured the €2.20 level (+0.5%) across 41,432 shares. The bank is scheduled to hold an extraordinary general meeting on July 27 whereby shareholders will be asked to consider and approve a number of important resolutions regarding the structure of its board of directors and the share capital (ahead of a €150 million rights issue).
The other positive performing equity today was GOplc with a gain of 0.1% to the €3.47 level on five deals totalling 9,252 shares.
In contrast, HSBC retreated by 0.5% back to the €2.07 level on high volumes totalling 50,675 shares. The bank is due to reveal its interim financial results on July 31.
RS2 Software extended yesterday’s drop of 0.1% by a further 0.2% to the €1.84,4 level across 27,483 shares.
FIMBank shed 3.2% to the 74c5US level after partially recovering from an intra-day low of 70c1US (-9%). A total of 21,000 shares changed hands. Last week, the trade finance specialist issued an interim directors’ statement whereby it made reference to the results being achieved from its turnaround strategy.
FIMBank also added that the first half of 2017 was characterised by material and positive results on recovery of bad debts as management has successfully recovered some exposures that had impacted previous years’ performance.On the other hand, FIMBank warned that market conditions have yet to improve and regulatory oversight, especially on capital ratios, have become stronger. Nonetheless, the Bank continues to adopt a prudent business model and approach.
On the other hand, FIMBank warned that market conditions have yet to improve and regulatory oversight, especially on capital ratios, have become stronger. Nonetheless, the Bank continues to adopt a prudent business model and approach.
Malta Properties Company slumped 4.3% to the 51c1 level albeit on trivial volumes.
Meanwhile, four equities finished the day flat. International Hotel Investments maintained its over 28-month low of 60c across 25,078 shares. Recently, IHI published an updated financial analysis summary providing the forecasts for the financial year ending December 31.
Malta International Airport continued to trade at the €4.15 level on a single deal of 4,700 shares. The airport operator is due to reveal its six-month financial performance on July 26. The directors will also consider the payment of an interim dividend.
Low trading activity took place in Mapfre Middlesea and PG. The insurance specialist maintained its near two-year low of €1.86 whilst PG retained the €1.30 level.
On the bond market, the RF MGS Index trended higher for the first time in nearly two weeks as it advanced by 0.14% to 1,112.807 points from its near four-month low of 1,111.219 points yesterday.
Euro zone sovereign yields remained close to their recent highs amid a light day in terms of new releases of economic data. Meanwhile, chancellor Angela Merkel was reported as saying that the European Central Bank’s monetary policy is not yet where Germany would like it to be, while she also highlighted the benefits of the ECB’s ultra-loose monetary policy which led to economic growth and job creation.
The recently listed 3.75% Tumas Investments plc 2027 bonds traded for the first time today closing at 102.05% on two deals totalling €14,200 nominal.
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