Pg 1 of 2251234Last »

Following the declines of the past two days, the MSE Share Index rebounded by 0.13% to 4,470.295 points today as the gains in six equities outweighed the declines in another three shares. Trading activity in the local equity market remained subdued as just under €214,000 worth of shares changed hands today. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index edged lower for the third consecutive day as it retreated by 0.07% to 1,148.788 points. Eurozone bond yields continued to gain ground as data showed that deflation eased in May, paving the way for the European Central Bank (ECB) to revise its consumer price growth forecasts upward this week for the first time in a year. Indeed, inflation in the single currency block increased to -0.1% in May year-on-year from -0.2% in April, mainly driven by a rebound in oil prices. Meanwhile, unemployment in the euro zone held steady at 10.2% in April – the lowest level since August 2011.

Today’s highlight was the 1.6% jump in the share price of Simonds Farsons Cisk plc to a new record high of €6.50 across 7,454 shares. Recently, the food and beverages company revealed a record pre-tax profit figure of €10.1 million during the financial year ended January 2016. Farsons is due to hold its AGM on 28 June.

In the banking sector, HSBC Bank Malta plc (15,019 shares) and FIMBank plc (31,500 shares) performed positively today, with both advancing by 0.6% to €1.61 and USD0.845 respectively. The Board of Directors of HSBC will be meeting on 5 August to consider and approve the interim financial statements for the half-year ending 30 June 2016 and consider the declaration of an interim dividend.

Medserv plc recaptured the €1.79 level (+1.7%) across shallow volumes totalling 3,000 shares. Last Thursday, the oil and gas logistics specialist announced that it was awarded a contract by ENI to provide a logistics base and associated services for its exploration activities taking place offshore Portugal for six months with possible extensions.

Mapfre Middlesea plc and GO plc also closed higher today on trivial volumes. Mapfre Middlesea advanced by 0.5% to the €2.21 level whilst GO regained the €2.90 level. Tunisie Télécom is shortly expected to publish an offer document in relation to its bid to acquire the entire share capital of GO at a price of €2.87 per share.

Amongst the large companies, International Hotel Investments plc shed 1.4% to the €0.64 level across 9,800 shares. IHI’s AGM will be held on 9 June. Shareholders as at 27 June will be entitled to a bonus share issue of 3 new shares for every 100 shares held.

Similarly, RS2 Software plc retreated to its lowest level in over two months as it lost 0.2% to the €3.48 level across 13,666 shares. 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).

Plaza Centres plc dropped 0.9% from its all-time high of €1.08 as 29,828 shares traded at the €1.07 level. Last week, the company stated that its financial position remained satisfactory and in line with expectations. Occupancy during Q1 2016 increased to 99% and a high level of occupancy is expected to be maintained throughout the year. Moreover, revenue and EBITDA also increased compared to the first quarter of 2015.

Within the same segment, Malita Investments plc held to the €0.90 level across 15,100 shares.

Likewise, the share price of Bank of Valletta plc maintained the €2.24 level on volumes totalling 3,859 shares.

A single deal of just 731 shares left the equity of 6pm Holdings plc unchanged at the GBP0.95 level. The IT services company will be holding its AGM on 21 June. In the meantime, shareholders are still awaiting updates regarding the interest of a number of investors to acquire the entire company.

Responses are currently closed, but you can trackback from your own site.