The MSE Equity Price Index erased some of Thursday’s decline as it rebounded by 0.36% to 4,855.258 points. Friday’s gain reflects the positive performances of Farsons (which moved to a fresh all-time high), HSBC, RS2 and Medserv. On the other hand, five companies trended lower while four other shares closed the day unchanged. The majority of Friday’s trading activity took place in MPC and FIMBank.
Simonds Farsons Cisk plc extended its recent rally as the equity added a further 1.9% to a new record high of €10.70 across 1,877 shares. The food and beverages company is due to hold its AGM on June 24.
HSBC Bank Malta plc regained the €1.70 level (+2.4%) on activity totalling 13,592 shares.
RS2 Software plc moved 1.4% higher to the €1.40 level across 15,000 shares. RS2 is due to hold its AGM on June 18.
The share price of Medserv plc remained volatile and following Thursday’s sharp decline of 13.1%, the equity recovered by 14% today to €1.10 albeit on just 9,500 shares. On Wednesday, Medserv published an updated Financial Analysis Summary providing forecasts for the current financial year ending December 31, 2019 as well as an Interim Report providing an overview of the company’s performance during the first three months of 2019. The company is projecting a significant turnaround in operational results, largely reflecting increased business in various regions (particularly in Suriname, South America) as well as improved profit margins. Overall, Medserv is expecting to almost double its EBITDA to a record high of €14.1 million in 2019 from €7.32 million last year. The company is due to hold its AGM next Monday May 27.
In contrast, FIMBank plc was the worst performing equity on Friday with a drop of 3.2% to a fresh 2019 low of $0.60 on high volumes of 208,070 shares.
Both Malta International Airport plc (3,770 shares) and Malita Investments plc (6,055 shares) eased by 0.6% to €7.90 and €0.84 respectively.
Plaza Centres plc retreated by 0.5% back to its 2019 low of €0.99 on five deals totalling 28,400 shares. Plaza is due to hold its AGM on June 5.
Within the same segment, Malta Properties Company plc slipped by 0.8% to the €0.615 level on heightened activity totaling 206,503 shares. MPC’s AGM is scheduled to be held on June 11.
Meanwhile, a single deal of just 12,600 shares left the equity of BMIT Technologies plc at the €0.54 level. On Thursday, BMIT announced that it entered into a promise of sale agreement for the acquisition of the building that currently houses its data centre in Ħandaq, Qormi. The consideration of the deal amounts to €4 million and the promise of sale agreement is valid and effective up to January 23, 2020. In this respect, BMIT also explained that through this acquisition, the company will be able to carry on a significant part of its operations from its own property, thus minimising or avoiding risks associated with a migration to another facility including financial expense, operational disruption and risk of loss of business. The acquisition will also mean that BMIT will no longer have to honour the remaining term of the current lease resulting it in incurring less expenditure on rental of premises.
International Hotel Investments plc traded unchanged at its highest level since June 2015 of €0.81 on light volumes. IHI is due to hold its AGM on June 13. Shareholders as at close of trading on June 26 are entitled to receive a net dividend per share of €0.02.
GO plc ended flat at the €4.28 level after recovering from an intra-day low of €4.20 (-1.9%). A total of 7,570 shares traded. GO is scheduled to hold its AGM on Tuesday May 28.
Bank of Valletta plc maintained the €1.33 level across 27,923 shares. Shareholders as at close of trading on June 6 will receive one bonus share for every 10 shares held.
The RF MGS Index trended higher for the third consecutive day as it climbed by a further 0.06% to 1,117.772 points – the highest level since mid-December 2017. Malta Government Stocks price edged higher as a result of the increased perceived risks across international financial markets which, in turn, reflect heightened uncertainties related to the trade relationship between the US and China.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.