The MSE Equity Price Index added a minimal 0.03% to 4,837.687 points as the increase in the share price of GO outweighed the declines in four other shares. Meanwhile, several equities closed the day unchanged while trading volumes contracted sharply to €0.26 million.
GO plc advanced by 1.4% to regain the €4.36 level across 2,600 shares. GO will be paying its 2018 dividend and 2019 interim dividend on Thursday.
On the other hand, GlobalCapital plc slumped almost 17% to €0.25 albeit on trivial volumes. The company is due to hold its AGM on June 26.
Malita Investments plc shed 1.8% back to the €0.84 level on just 9,433 shares
Lombard Bank Malta plc and its postal subsidiary – MaltaPost plc – lost 1.5% and 1.7% to €2.26 and €1.30 respectively on light trading volumes. On Thursday, MaltaPost is due to publish its interim results for the six-month period ended March 31. The media on Wednesday reported that the Malta Communications Authority partially upheld a request by MaltaPost for a revision of domestic single-piece and bulk mail services.
Meanwhile, Bank of Valletta plc retained the €1.34 level across 67,226 shares. On Monday, the bank announced that it had submitted an application requesting the approval for admissibility to listing of a new €50 million unsecured and subordinated bonds having a coupon of 3.75% and maturing between 2026 and 2031. The bonds are intended to further strengthen the bank’s capital base.
Within the same sector, HSBC Bank Malta plc also closed the day unchanged at the €1.65 level on activity totalling 8,454 shares.
Also among the large companies, Malta International Airport plc (274 shares) and RS2 Software plc (28,274 shares) held on to the €7.60 and €1.40 levels respectively. RS2 is due to hold its AGM on June 18.
Two deals amounting to 5,095 shares left the equity of Simonds Farsons Cisk plc at the €10.50 level. The food and beverages company is due to hold its AGM on June 24.
Medserv plc traded flat at the €1.13 level on shallow trading volumes.
Low volumes also took place in Malta Properties Company plc and PG plc, with both equities finishing unchanged at €0.625 and €1.64 respectively. MPC is due to hold its AGM on June 11.
BMIT Technologies plc opened at a low of €0.535 before recovering to close unchanged at the €0.54 level across 21,000 shares.
The RF MGS Index extended its recent rally as it moved higher for the sixth consecutive day to 1,120.883 points – the highest level in several months. Sovereign bond yields in the euro area remained under downward pressure amid uncertainties related to the current trade dispute between the US and China. On the economic front, inflation data in France and unemployment statistics in Germany disappointed expectations. On the other hand, indices gauging the level of confidence of businesses and consumers in Italy registered a welcome rebound despite the overall weak outlook of the country’s economy.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.