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MIA reaches new all-time high

The MSE Equity Price Index on Tuesday extended its decline by a further 0.09% to 4,335.300 points, reflecting the drops in the share prices of Farsons and FIMBank which minimally outweighed the gains in GO, BOV and MIA.

Malta International Airport plc climbed 0.9% to reach yet another record high of €5.85 across 5,528 shares. In the morning, Ryanair revealed that it will be introducing 10 new routes for its Malta Summer 2019 schedule. The Irish carrier also said that it is expecting to carry 3.1 million passengers to and from Malta next year, representing a growth of 15%.

Bank of Valletta plc added 1% to recapture the €1.515 level after recovering from a fresh multi-year low of €1.48 (-1.3%). A total of 86,585 shares changed hands.

GO plc gained 1.2% to regain the €3.48 level on activity totalling 34,588 shares.

A single deal of 8,753 shares forced the equity of FIMBank plc to move 2.5% lower to the €0.575 level.

Simonds Farsons Cisk plc shed almost 6% back to the €7.20 level on just 1,300 shares. Farsons is due to publish its interim financial statements on 19 September. The Directors will also be considering the distribution of an interim dividend.

Low trading activity also took place in the equities of Malta Properties Company plc and RS2 Software plc. Both traded unchanged at the €0.50 and €1.18 levels respectively.

Today, Tigne’ Mall plc announced that it entered into a promise of sale agreement with MIDI plc to acquire the garage complex known as “T1 Car Park” which comprises of 132 car parking spaces over three underground levels in Tigne’ Point. The consideration to be paid by Tigne’ Mall amounts to €4.6 million.

The RF MGS Index retreated by 0.06% to a near one-week low of 1,088.209 points as euro bond yields rose notably amid positive readings of German business sentiment. In fact, the 10-year German Bund yield climbed to over 0.44% which is the highest level since early August 2018.

www.rizzofarrugia.com

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