The MSE Equity Price Index added 0.19% to 4,719.030 points, reflecting the gains in the share prices of IHI, HSBC and GO which, in aggregate, outweighed the declines in four other shares. Trading volumes improved to €0.72 million largely on the back of heightened activity in IHI. The latter represented 46% of Wednesday's total value of equities traded.
International Hotel Investments plc surged 2% to the €0.765 level on strong volumes totalling 434,033 shares. On Wednesday, IHI announced that its wholly-owned subsidiary Corinthia Hotels Ltd has concluded a strategic investment in Global Hotel Alliance (GHA) which, in turn, is the world’s largest alliance of independent hotel brands and operator of the award-winning, multi-brand loyalty programme ‘Discovery’. IHI noted that through this investment, it will be joining Omni Hotels, Kempinski Hotels, Minor Hotel Group, Pan Pacific Hotels Group, and technology giant Oracle in the GHA shareholding.
HSBC Bank Malta plc added 1.3% to the €0.62 level on activity of 13,889 shares.
GO plc advanced 2.1% to recapture the €4.90 level albeit on trivial volumes.
In contrast, Bank of Valletta plc retracted by 1.4%, back to the €1.38 level across 52,745 shares.
In the property segment, Malita, MIDI and MPC all recorded notable losses on Wednesday. Malita Investments plc shed 2.3% to a new 2019 low of €0.85 on activity totalling 21,390 shares. On Thursday, the equity starts trading without the entitlement to a final net dividend of €0.01417 per share.
Both MIDI plc (154,387 shares) and Malta Properties Company plc (32,258 shares) dropped by over 3% to €0.61 and €0.56 respectively. MIDI is due to publish its results for the 2018 financial year on April 25.
Meanwhile, Malta International Airport plc traded unchanged at its all-time high of €6.65 on two deals totalling 8,000 shares. The cut-off date for MIA’s dividend is April 11.
Similarly, PG plc held on to its 15-month high of €1.43 across 49,100 shares.
Mapfre Middlesea plc opened at €2.38 (a new two-year high) before closing the day unchanged at the €2.36 level on light trading volumes.
Five deals totalling 37,925 shares left the equity of BMIT Technologies plc at the €0.53 level.
Medserv plc stayed at the €1.10 level across 11,400 shares.
On Thursday, Tigné Mall plc is due to publish its results for the 2018 financial year. The equity remained inactive on Wednesday.
The RF MGS Index trended lower for the fourth consecutive day as it slipped by a further 0.11% to a near two-week low of 1,111.880 points. Bond yields in the euro area recovered further ground on increased optimism that the US and China will reach an agreement over trade. Meanwhile, new economic data issued today in the euro area was comforting, pointing to a solid rebound in purchasing managers’ sentiment as well as retail sales.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.