• The MSE Equity Price Index extended last Friday’s gains by a further 0.38% to 4,303.980 points, largely driven by the strong rebound in the share price of FIMBank which, together with the gains in the equities of RS2 and IHI, offset the declines in three other shares. The total value of equities traded today increased substantially to €0.77 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index opened the week in negative territory as it eased by 0.07% to 1,117.178 points. Sovereign euro bond yields trended higher today as the latest political developments in Italy pointed towards the formation of a new government made up from an alliance between the Five Star Movement and the Northern League. Meanwhile, the Governor of the Bank of France was today quoted as saying that the European Central Bank may increase interest rates “at least some quarters, but not years” after the asset-purchase programme ends. Mr de Galhau also played down concerns over the most recent drop in economic activity across the single currency area and hinted that the ECB is still likely to halt quantitative easing this year. In this respect, Mr de Galhau added that inflation will likely accelerate in the coming months as the economic performance of the euro area rebounds from the prevailing weakness.
  • FIMBank plc climbed 8.9% to regain the USD0.55 level albeit on just 1,667 shares.
  • RS2 Software plc (80,000 shares) and International Hotel Investments plc (159,800 shares) both added 0.8% to the €1.24 and €0.63 levels respectively. Shareholders of RS2 as at close of trading on 16 May will be entitled to a net dividend of €0.0146 per share.
  • On the other hand, PG plc retracted back to its 2018 low of €1.28 (-2.3%) on heightened activity totalling 150,352 shares.
  • Malta International Airport plc eased by 0.4% to the €4.90 level across 10,790 shares whilst Trident Estates plc shed 4.4% to the €1.53 level on trivial volumes. Last Friday, MIA revealed that during the first three months of 2018, it generated an EBITDA of €6.03 million, representing an increase of 3.6% over the same period last year. Similarly, profit after tax increased by 6.3% to €2.62 million when compared to Q1 2016. Overall, the Directors noted that the favourable start to the summer season together with the projection of further growth in passenger numbers, provides an optimistic outlook for the rest of 2018.
  • Meanwhile, seven equities closed the day unchanged. Amongst the large caps, Bank of Valletta plc (24,161 shares), HSBC Bank Malta plc (13,713 shares) and GO plc (35,900 shares) retained the €1.75, €1.69 and €3.48 levels respectively.
  • In the property segment, Plaza Centres plc held on to the €1.04 level across 96,200 shares whilst two deals totalling 50,000 left the equity of MIDI plc at its 2018 high of €0.37. Shareholders of MIDI as at close of trading on 24 May will be entitled to a final net dividend of €0.007 per share.
  • MaltaPost plc traded unchanged at the €1.80 level across 8,500 shares whilst GlobalCapital plc maintained the €0.32 level on insignificant volumes. The postal operator is due to publish its interim results on Wednesday 16 May.

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