MIA climbs to 2-month high

The MSE Equity Price Index fell by 0.27% to 3,734.952 points as the decline in IHI outweighed the gains in BMIT, MIA and M&Z. Meanwhile, five other equities closed unchanged as today’s trading activity in local equities amounted to €0.31 million. Download today’s Equity Market Summary.

Malta International Airport plc was today’s most actively traded equity as it moved 0.7% higher to a two-month high of €5.75 across nine trades totalling 29,800 shares having a market value of €0.17 million.

BMIT Technologies plc advanced by 2.3% to the €0.358 level over five trades amounting to 23,841 shares. Yesterday, the Malta Stock Exchange announced that 8,006,582 new BMIT ordinary shares were admitted to the Official List of the Malta Stock Exchange following the recent scrip dividend issue at an attribution price of €0.351 per share, representing a take-up of around 56%. Following this scrip dividend, the total number of shares in issue increased to 211,601,892 shares.

M&Z plc reversed yesterday’s losses as it gained 1.8% to the €0.58 level across four deals amounting to 40,000 shares.

On the other hand, International Hotel Investments plc slumped by 7.7% to an all-time low of €0.406 as 17,046 shares changed hands.

Bank of Valletta plc closed unchanged at the €1.43 level after recovering from an intraday low of €1.41 (-1.4%) over five trades totalling 47,592 shares.

Also in the banking sector, APS Bank plc closed unchanged at the €0.515 level after failing to hold onto an intraday high of €0.52 (+1.0%) on four trades amounting to 5,075 shares.

Lombard Bank Malta plc held the €0.79 level on muted activity.

GO plc traded flat at the €2.90 level on two deals totalling 10,200 shares.

Malta Properties Company plc closed unchanged at the €0.32 level after recovering from an intraday low of €0.304 (-5.0%) on two trades totalling 4,400 shares.

The RF MGS Index rose by 0.21% to a one-month high of 892.839 points, in line with the decrease in other Eurozone sovereign bond yields earlier today. In particular, the German 10-year bund yield dropped to around 2.36% from a peak of about 2.45% yesterday, but rebounded later in the session to above 2.41%. Data released today showed the private sector in the Eurozone grew for the fourth consecutive month, albeit at a slower rate than expected. The slowdown was driven by a deeper contraction in the manufacturing industry as well as lower-than-anticipated growth in the services sector. Elsewhere in the UK, retail sales in May surged by 2.9% month-over-month in May, much stronger than the 1.5% which was forecasted and recovering from a 1.8% decline in April.

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap—370 of the Laws of Malta and a member of the Malta Stock Exchange.