Daily Market Highlights

May 30, 2019

The MSE Equity Price Index added 0.1% to 4,842.262 points as seven companies closed in positive territory. These gains were however mostly erased by the declines in four other shares, including MIA, BOV and IHI. Meanwhile, RS2 remained unchanged whilst trading volumes improved sharply to €0.38 million compared to €0.26 million yesterday. Download a copy of today’s Equity Market Summary.

The RF MGS Index continued to trend higher with the seventh consecutive daily gain to 1,121.313 points – the highest level in several months. Several prices of Malta Government Stocks remained in record territory amid high volatility across international financial markets due to the lingering trade dispute between the US and China.

MaltaPost plc surged 7.7% to an over four-month high of €1.40 across 28,295 shares. Today, the postal operator published its preliminary statement of half yearly results for the six-month period ended 31 March 2019. These showed an increase in EBITDA of 6.4% to €1.75 million as the decrease in costs outweighed the decline in revenues.

In the banking sector, HSBC Bank Malta plc regained the €1.70 level (+3%) across 10,000 shares whilst two deals totalling 32,500 shares lifted the equity of FIMBank plc 1.7% higher to the USD0.61 level.

Also among the large companies, GO plc advanced 0.9% back to the €4.40 level on 11,769 shares. GO today paid an ordinary dividend of €0.14 per share as well as a special dividend of €0.41 per share.

Trident Estates plc extended its recent rally as the equity climbed by a further 4.1% to a thirteen-month high of €1.76 across 13,751 shares. The company is due to hold its AGM on 25 June.

A single deal of just 4,800 shares pushed the share price of Plaza Centres plc 1% higher to the €1.00 level. Plaza is scheduled to hold its AGM on 5 June.

Malta Properties Company plc also performed positively today with a gain of 0.8% to the €0.63 level on activity totalling 103,100 shares. MPC is due to hold its AGM on 11 June.

RS2 Software plc traded unchanged at the €1.40 level across 25,000 shares. RS2 will hold its AGM on 18 June.

Meanwhile, BMIT Technologies plc shed 2.8% to the €0.525 level across 184,020 shares.

Malta International Airport plc opened at a high of €7.65 (+0.7%) before closing the day 1.3% lower at the €7.50 level on a total of 1,380 shares.

Bank of Valletta plc continued to trade within a tight range as the equity eased by 0.7% back to the €1.33 level across 9,618 shares. On Monday, the bank announced that it submitted an application requesting the approval for admissibility to listing of a new €50 million unsecured and subordinated bonds having a coupon of 3.75% and maturing between 2026 and 2031. The bonds are intended at further strengthening the bank’s capital base.

International Hotel Investments plc erased some of the recent strong gains as it moved 2.4% lower to the €0.82 level albeit on just 9,429 shares. The hotel chain operator is due to hold its AGM on 13 June. Shareholders as at close of trading on 26 June will be entitled to receive a net dividend of €0.02 per share.