BMIT share price moves to fresh 8-month high

 

The MSE Equity Price Index eased slightly to 4,610.158 points as the declines in MIA, BOV and GO outweighed the gains in BMIT, FIMBank and MaltaPost. Meanwhile, four other companies closed the day unchanged as total trading activity remained encouraging with €0.46 million worth of shares changing hands. Download today’s Equity Market Summary.

BMIT Technologies plc added 0.9% to a fresh eight-month high of €0.55 across 53,000 shares. The company is due to publish its 2019 full-year results on 12 March. The Directors will also consider recommending a dividend. In the Prospectus dated 7 January 2019, the dividend for the 2019 financial year was estimated at €0.0216 per share.

A single deal of just 2,000 shares lifted the equity of MaltaPost plc 1.6% higher to the €1.30 level.

FIMBank plc surged 6.4% to a one-month high of USD0.58 across 23,574 shares. The trade finance specialist is due to publish its 2019 financial results on 10 March.

Also in the banking sector, HSBC Bank Malta plc opened at a low of €1.05 before closing unchanged at the €1.07 level on persistently strong volumes totalling 263,118 shares. Shareholders as at close of trading tomorrow will be entitled to receive a final net dividend of €0.014 per share.

International Hotel Investments plc (€0.74) and Malita Investments plc (€0.89) closed flat albeit on trivial volumes. On Monday, IHI announced the signing of an additional management agreement for a new ultra-luxury Corinthia Hotel in Gewan Island, Qatar. The development will also include luxury villas, a golf course and a beach club, which will all be managed by IHI through Corinthia Hotels Limited.

RS2 Software plc retained the €2.54 level after recovering from an intra-day low of €2.48 (-2.4%). A total of 11,650 shares traded.

Meanwhile, Malta International Airport plc drifted 2.2% lower back to the €6.65 level across 2,450 shares. Shareholders as at close of trading on 7 April will be entitled to receive a final dividend of €0.10 per share.

Bank of Valletta plc moved to its near three-month low of €1.04 (-1%) across 9,000 shares.

GO plc trended slightly lower as it slipped by 0.5% to the €4.26 level on six deals totalling 18,366 shares. The company is due to publish its 2019 annual financial results on 12 March. The Directors will also consider recommending a dividend.

The RF MGS Index posted its sharpest daily uplift in three months as it rallied by 0.44% to 1,162.953 points – the highest level since 1 November 2019. International bond yields remained under considerable downward pressure as a number of central banks around the world marked their willingness to increase their support in order to prevent economic fall outs from the continued spread of the coronavirus.