Following five consecutive sessions of declines, the MSE Equity Price Index tumbled by 0.27% to 4,770.395 points as IHI, RS2 and Tigne Mall trended in negative territory to offset the gains in six other companies including BOV, GO and MIA. Meanwhile HSBC traded unchanged. Trading volumes declined with just €0.22 million worth of shares changing hands during today’s trading session.
In contrast to last Friday’s 4.7% jump, International Hotel Investments plc slipped by 3.2% back to the €0.75 level today albeit on a single trade of 6,900 shares.
Last week, the hotel chain operator reported a near 6% increase in adjusted EBITDA to €61.3 million as most of the Group’s operations registered growth. The Board of Directors will be recommending a net dividend of €0.02 per share at the forthcoming annual general meeting which is scheduled to be held on 13 June 2019. The dividend will be paid on July5, 2019 to all shareholders as at close of trading on Wednesday 26 June 2019.
Similarly, RS2 Software plc shed 3.7% back to the €1.58 level across seven deals totalling 11,574 shares. Last week, RS2 reported an improved net profit of €4.25 million for the 2018 financial year compared to €0.79 million in 2017 coupled with a positive outlook. The Directors are recommending a 1-for-8 bonus share issue to all shareholders as at close of trading on 15 May 2019.
The only other negative performing equity today was Tigné Mall plc with a 2.1% drop back to the €0.925 level on volumes of 17,000 shares.
On the other hand, Bank of Valletta plc moved 0.4% higher to €1.335 across ten deals totalling 42,465 shares.
Likewise, GO plc edged 0.9% higher to regain the €4.46 level on volumes of 9,345 shares. GO is due to hold its AGM on 28 May.
Malta International Airport plc also featured amongst today’s positive performers with a 0.7% increase to close at its all-time high of €6.80 level on low volumes of 2,941 shares.
PG plc also closed today’s session at a fresh all-time high of €1.66 (+0.6%) on volumes of 14,234 shares.
The share price of Trident Estates plc added 4.5% to regain the €1.40 level across five deals totalling 18,780 shares.
The only other positive performing equity was Malta Properties Company plc with a 0.8% increase to €0.605 on a single deal of 7,500 shares. The shares of Malta Properties will continue to trade with the entitlement to the final net dividend of €0.01 per share until this Thursday 9 May.
Meanwhile, HSBC Bank Malta plc held on to the €1.72 level across 3,000 shares.
The RF MGS Index moved higher for the fifth consecutive day as it surged by 0.23% (the sharpest daily uplift in nearly two months) to a three-week high of 1,116.223 points.
Prices of Malta Government Stocks drifted significantly higher as sovereign bond yields in the euro area tumbled amid renewed uncertainties over trade relations between the US and China after US President Donald Trump threatened to impose higher tariffs on Chinese imports.
On the economic front, fresh data in Europe pointed to a strong rebound in purchasing managers’ indices as well as encouraging trends in retail sales and investor confidence.