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The MSE Share Index posted its third consecutive daily negative performance today as it eased by a further 0.22% to 4,433.079 points – the lowest level since mid-January 2016. Trading activity was spread across eight shares, with two closing in the red (BOV & RS2), another two shares registering gains (Malita & MIA) whilst four equities traded unchanged. Trading activity declined notably as just under €0.19 million worth of shares changed hands today. Week-on-week, the local equity index registered a decline of 0.89%. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index erased most of yesterday’s decline as it rebounded by 0.14% to 1,149.934 points. Euro zone government bond yields declined today, reflecting disappointing retail sales data in the single currency block for the month of April. Indeed, despite showing a year-on-year increase of 1.4%, this came well below the 2.1% figure expected by economists. The same data also showed that retail sales in Europe’s largest economy – Germany – fell by 0.6% year-on-year. The benchmark 10-year German Bund yield slipped from a high of 0.16% yesterday to 0.10%. In the afternoon, euro zone government bond yields continued to lose ground after a disappointing US jobs data report. In fact, the 10-year Bund hit a year-to-date low of 0.07%.

Despite recovering from an intra-day low of €3.40 (-2.6%), the equity of RS2 Software plc still closed the day in negative territory at the €3.465 level – representing a retreat of 0.7% from yesterday’s closing price. A total of 18,577 shares changed hands today. RS2 is due to hold its AGM on 23 June during which, and amongst other resolutions, shareholders will be asked to consider and approve a 5 for 3 share split (cut-off date: 30 June).

Bank of Valletta plc dropped by 0.8% back to the €2.22 level across 9,224 shares.

In contrast, four deals totalling 10,606 shares left the equity of HSBC Bank Malta plc unchanged at the €1.60 level. The Bank’s Board of Directors’ meeting for the approval of the interim financial results has been rescheduled to 3 August 2016. During the same meeting, the Directors will also consider the declaration of an interim dividend.

Within the same segment, FIMBank plc maintained its three-week low of USD0.82 across 13,410 shares.

Similarly, GO plc (15,600 shares) and International Hotel Investments plc (18,156 shares) closed flat at €2.90 and €0.63 respectively. On Wednesday, GO replicated an announcement issued by Tunisie Télécom which confirmed its intention to proceed with a voluntary offer to all shareholders of GO at the price of €2.87 per share. Tunisie Télécom revealed that it intends maintaining GO’s current status as a publicly listed company with its shares listed on the Malta Stock Exchange. The Chairman and CEO of Tunisie Télécom commented that the acquisition of GO presents an opportunity to create a strong trans-Mediterranean telecoms partnership which will support GO’s growth opportunities both locally and internationally.

Also among the large companies, Malta International Airport plc rebounded by 0.2% from its four-month low of €4.29 to the €4.30 level across shallow volumes totalling 1,400 shares. Early this afternoon, the airport operator published the May traffic results revealing a further 7.8% increase in passenger movements to a record (for the month of May) of 476,575 – representing the 50th consecutive month of passenger growth. Seat capacity during the period increased by 4.9% (reflecting the launch of new routes and increased frequencies) whilst the seat load factor rose to 81.4%. Overall, during the first five months of the year, MIA handled a record of 1.69 million passenger movements – an increase of 10.8% over the corresponding period last year.

Malita Investments plc recaptured the €0.90 level (+1.1%) across 15,610 shares.

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