MedservRegis secures new contract in the Middle East

 

The MSE Equity Price Index extended yesterday’s drop by a further 0.41% to 3,872.279 points as the declines in BOV, HSBC and the ordinary shares of RS2 outweighed the gains in four other equities. Meanwhile, GO remained unchanged as overall trading activity improved markedly to €0.37 million. Download today’s Equity Market Summary.

MedservRegis plc surged by 7.7% to the €0.70 level across five trades totalling 50,000 shares. Today, Medserv announced that it has been awarded a contract by a new client, Dubai Petroleum, for the provision of machining services on a call out basis. These services are to be carried out from the METS facilities situated in the United Arab Emirates. The contract came into effect on 1 December 2021 for a term of three years with an option for Dubai Petroleum to extend the term by a further two-years.

In the technology segment, BMIT Technologies plc advanced by 2.5% to the €0.49 level on heightened activity totalling 290,685 shares, representing nearly 40% of today’s total value of shares traded.

Simonds Farsons Cisk plc moved 0.6% higher to the €8.10 level on two deals totalling 593 shares.

The preference shares of RS2 Software plc climbed 3% to regain the €1.70 level on 5,000 shares. On the other hand, the ordinary shares fell by 1.1% to the €1.72 level on a single trade of 11,500 shares.

Bank of Valletta plc was today’s worst performing equity as it slumped by nearly 4% to the €0.865 level on five deals totalling 50,501 shares. Subject to regulatory approval, shareholders as at close of trading on 11 January will be entitled to receive a net interim dividend of €0.01716 per share which will be paid on 28 January.

Also in the retail banking sector, HSBC Bank Malta plc eased by 0.5% to the €0.915 level after partially recovering from an intraday low of €0.89. A total of 88,101 shares changed hands.

GO plc traded flat at the €3.26 level on four deals totalling 11,448 shares.

The RF MGS Index moved lower for the third consecutive session as it lost another 0.07% to 1,072.737 points. Investor sentiment continued to improve following strong retail sales and employment data in Germany. Elsewhere, OPEC+ agreed to continue increasing oil output following pressure from the US to boost supply.

 

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.