• The MSE Equity Price Index rebounded by 0.32% to 4,304.157 points today, as several equities trended higher whilst only PG and MIDI performed negatively. Meanwhile, another six shares closed the day unchanged. Trading volumes improved as €0.34 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • Following the substantial losses suffered in the previous two days, the RF MGS Index bounced back by 0.16% today to 1,106.321 points as political tensions in Italy eased, thus triggering a notable contraction in the spreads between the yields of peripherals countries compared to those of Germany. On the economic front, preliminary data showed that inflation across the single currency area jumped to 1.9% in May, possibly reflecting the recent significant gains in the price of oil. Spanish, Italian and French inflationary data was also positive. On the other hand, Spanish GDP growth in Q1 2018 slowed year-on-year but was better than expected, whilst in Italy the unemployment rate climbed to 11.2%.
  • On the first trading of trading, the equity of Main Street Complex plc surged by 7.7% to the €0.70 level (from the IPO price of €0.65) albeit on just 2,500 shares. The company is the owner of a retail and entertainment complex in the heart of Paola.
  • Low trading activity also took place in the equities of Medserv plc, GlobalCapital plc and Loqus Holdings plc. Medserv regained the €1.05 level (+1%) whilst GlobalCapital and Loqus jumped 6.3% and 31.6% to €0.34 and €0.10 respectively. On Monday, Medserv’s shareholders mandated the company to disclose information to any bona fide offeror, including unpublished price sensitive information, as may be necessary to enable any bona fide offeror to make, confirm, withdraw or modify any bona fide offer made to purchase and acquire a substantial shareholding in Medserv.
  • Amongst the large caps, MIA, HSBC and RS2 all ended higher today. Malta International Airport plc recaptured the €5.00 level (+0.8%) on 5,523 shares.
  • HSBC Bank Malta plc advanced 1.2% to the €1.72 level across 10,100 shares whilst RS2 Software plc surged 2.6% to the €1.17 level after rebounding from its 2018 low of €1.10. A total of 83,134 RS2 shares traded.
  • Bank of Valletta plc retained the €1.74 level across 26,281 shares whilst a single deal of 2,545 shares left the equity of GO plc at its 2018 low of €3.40.
  • International Hotel Investments plc managed to close unchanged at the €0.63 level after recovering from an intra-day low of €0.61 (-3.2%). A total of 25,355 shares traded. IHI is due to hold its AGM on 5 June.
  • FIMBank plc (20,000 shares) and Simonds Farsons Cisk plc (1,220 shares) maintained the USD0.52 and €6.55 levels respectively. The AGM of Farsons is scheduled for 21 June.
  • In the property segment, Tigne’ Mall plc traded flat at the €0.98 level on volumes totalling 61,100 shares. The equity is still trading with the entitlement to a final net dividend of €0.012875 per share.
  • In contrast, MIDI plc slipped by 1.4% to the €0.434 level across 46,000 shares. The company is due to hold its AGM on 27 June.
  • PG plc moved back by 2.3% to its 2018 low of €1.28 across 18,415 shares.

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