Daily Market Highlights (04.06.2019)

BOV share price surges to 2-month high

The MSE Equity Price Index added 0.06% to 4,820.481 points as the gains in various equities (including BOV and RS2) were almost completely erased by the significant decline in Farsons. Trading activity improved but still remained subdued as only €0.17 million worth of shares changed hands. Download today’s Equity Market Summary.

Bank of Valletta plc climbed 4.5% to a two-month high of €1.40 on volumes totalling 52,987 shares. This morning, the bank announced that it received regulatory approval for the admissibility to listing of €50 million 3.75% unsecured and subordinated bonds maturing between 2026 and 2031. Meanwhile, shareholders as at close of trading on Thursday 6 June will receive one bonus share for every ten shares held.

RS2 Software plc and BMIT Technologies plc added 2.9% to €1.40 and €0.54 respectively albeit on light volumes. RS2 is due to hold its AGM on 18 June.

Santumas Shareholdings plc traded for the first time in nine weeks as the equity soared by 19% to a fresh all-time high of €1.69 across 3,200 shares.

In the property segment, Malita Investments plc advanced 4.3% to the €0.855 level on seven deals totalling 30,750 shares.

Conversely, Tigné Mall plc retained its 2019 low of €0.90 across 3,000 shares. Shareholders as at close of trading 18 June will be eligible to receive a final net dividend of €0.0131 per share. The company is due to hold its AGM on 20 June.

Malta International Airport plc traded unchanged at the €7.50 level across 1,910 shares.

Meanwhile, Simonds Farsons Cisk plc tumbled by 12.4% back to the €9.20 level albeit on trivial volumes. Farsons is scheduled to hold its AGM on 24 June.

HSBC Bank Malta plc also trended lower today with a drop of 0.6% to the €1.64 level on activity totalling 20,772 shares.

The RF MGS Index extended yesterday’s gain as it advanced by a further 0.16% to 1,123.817 points – a new high since mid-December 2017. Sovereign bond yields across the world remained under considerable downward pressure amid suggestions by a US Federal Reserve rate-setter that the central bank is open to a possible interest rate cut in the months ahead. Meanwhile, fresh economic data in Europe was largely characterised by disappointing inflation which was somewhat offset by a further improvement in the unemployment rate to a new multi-year low of 7.6%.