The MSE Equity Price Index climbed by 0.27% to 4,310.498 points as several equities performed positively while only FIMBank trended lower. Despite Friday's gains, the local equity index retreated by 0.73% during this shortened week, mostly driven by the drops in share prices of FIMBank (-5.5%), HSBC (-4.8%) and BOV (-1.3%).
MIDI plc surged 4% to a new record high of €0.52 across 50,790 shares. The company is scheduled to publish its interim results on August 30.
Within the same sector, Malta Properties Company plc rebounded by 6.3% to regain the €0.51 level across 19,255 shares and Malita Investments plc added 1.8% to the €0.87 level on volumes of 12,407 shares. Malita shareholders as at close of trading on August 21 will be entitled to receive a net interim dividend of €0.00858 per share.
Bank of Valletta plc extended Thursday's gains by a further 0.3% to the €1.52 level across 69,103 shares.
GO plc regained the €3.40 level (+2.4%) across 11,682 shares while RS2 Software plc moved 1.7% higher to the €1.19 level on volumes totalling 9,146 shares. RS2 is expected to publish its interim financial statements on August 28.
PG plc added 1.5% to an over four-month high of €1.37 on a single deal of 18,075 shares. The Board of Directors of PG is scheduled to meet on August 28 to consider and approve the company’s financial statements for the year ended April 30, 2018. The directors will also be considering the distribution of an interim dividend.
In contrast, FIMBank plc tumbled 5.5% to the $0.515 level across 40,000 shares. On Tuesday, FIMBank issued its interim financial results as at June 30, 2018. The trade finance specialist reported a net operating profit before impairment allowances of $9.79 million which is significantly higher than the comparable figure of $2.74 million in the first six months of 2017. Overall, FIMBank posted a net profit of $6.04 million compared to $4.06 million last year. In their commentary, the directors explained that in the months ahead, the bank would continue exploiting its strong expertise and franchise to grow its business.
Meanwhile, HSBC Bank Malta plc held on to its two-month low of €1.80 across 6,242 shares.
International Hotel Investments plc (7,900 shares) and Malta International Airport plc (555 shares) also traded unchanged at €0.64 and €5.65 respectively. IHI still has to announce the date of the publication of its interim financial statements while MIA shareholders as at close of trading next Monday August 20 are entitled to receive a net interim dividend of €0.03 per share.
Lombard Bank Malta plc maintained the €2.30 level after opening at a low of €2.28. A total of 22,276 shares changed hands. The bank is scheduled to issue its interim financial statements on August 23.
The RF MGS Index extended Thursday's gain by a further 0.08% to 1,095.114 points as eurozone sovereign yields continued to trend mostly lower today despite positive inflationary data. In fact, inflation across the single currency area was confirmed at 2.1% which, in turn, is slightly above the European Central Bank’s target of close but below 2%. Meanwhile, core inflation remained at 1.1%.
Overall, the RF MGS Index lost 0.17% this week as uncertainties related to the currency crisis in Turkey dominated financial markets.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.