The MSE Equity Price Index trended lower for the first time in five trading sessions as it slumped by 0.55% to 4,457.164 points, largely driven by the drops in the share prices of IHI (-2.4%) and Farsons (-3.4%) which outweighed the gains in MPC (+0.8%) and MaltaPost (+2.1%). Meanwhile, four other equities closed the day unchanged.
On Tuesday, HSBC Bank Malta plc will kick-start the 2017 earnings reporting season. The directors of the bank will also be considering the declaration of a final dividend. The equity closed unchanged at the €1.82 level on Monday on volumes totalling 7,527 shares.
Within the same segment, Bank of Valletta plc maintained the €1.81 level across 14,212 shares. BOV’s insurance associate – Mapfre Middlesea plc – also ended unchanged at the €1.85 level albeit on trivial volumes.
RS2 Software plc held on to the €1.31 level after recovering from its 16-month low of €1.30 (-0.8%). A total of 24,000 changed hands.
Trident Estates plc was the most actively traded equity today as it shed 3.5% to the €1.91 level on volumes totalling 62,688 shares (representing 39% of the total value of equities traded).
Among the large companies by market capitalisation, IHI, GO and MIA all posted declines today. International Hotel Investments plc lost 2.4% to the €0.605 level albeit on trivial volumes.
GO plc (5,600 shares) and Malta International Airport plc (18,000 shares) retreated by 0.6% and 0.4% to €3.54 and €4.94 respectively. The airport operator is scheduled to reveal its 2017 financial results next Wednesday.
PG plc and Simonds Farsons Cisk plc also performed negatively albeit on insignificant volumes. PG moved back to the €1.36 level (-2.2%) while Farsons dropped by 3.4% to a ten-month low of €7.20.
In contrast, MaltaPost plc surged by 2.1% to regain the €1.95 level on a single deal of just 3,029 shares.
Also on light volumes, Malta Properties Company plc climbed 0.8% to the €0.486 level across 5,344 shares.
The RF MGS Index added to last Friday’s gains of 0.15% as it advanced by a further 0.18% to 1,109.817 points today amid a quiet for international bond markets.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.