The MSE Share Index extended yesterday’s gains by a further 0.36% to a one-week high of 4,651.895 points. Trading activity was broad as twelve equities were active, seven of which closed the day unchanged, three moved higher whilst only two recorded losses. In aggregate, €0.38 million worth of shares changed hands – the highest level in the last seven days. Download a copy of today’s Equity Market Summary.
On the bond market, the RF MGS Index edged higher for the third successive session with a rise of a further 0.13% to a three-month high of 1,126.050 points. The indicative opening bid price quoted by the Central Bank of Malta for the most recently issued long-dated Malta Government Stock – i.e. 2.2% 2035 (I) – reached a record high of 102.91% compared to an issue price of 100.25%. Euro zone sovereign yields extended their recent slide amid various political uncertainties around the world (namely, in the Arab peninsula as Qatar is being accused of supporting Saudi Arabia’s regional arch-rival Iran; in Britain as Theresa May seems to be losing her advantage over the Labour Party in the upcoming Parliamentary elections; and in the US ahead of the much-awaited testimony by former FBI director James Comey regarding possible connections between President Trump’s election campaign team and Russia). Meanwhile, bond markets are largely expecting the European Central Bank to leave its current monetary policy unchanged during the next Governing Council meeting to be held on Thursday 8 June. Last week, ECB President Mario Draghi hinted that the ECB’s stimulus programme is still desirable given that core inflation is still considered to be weak. On the economic front, an index gauging the level of investor confidence in the single currency area rose more-than-expected to the highest level in nearly ten years. Year-on-year changes in retail sales also beat forecasts.
Five deals totalling 35,000 shares lifted the equity of Malita Investments plc 4.9% higher from its two-year low of €0.72 to the €0.755 level.
HSBC Bank Malta plc gained 2% to recapture the €2.04 level across 13,985 shares.
PG plc advanced 2.6% to the €1.284 level albeit on trivial volumes.
Very low trading activity also took place in the equities of Mapfre Middlesea plc and Malta Properties Company plc which eased by 1.5% and 1.6% to €1.95 and €0.502 respectively.
Meanwhile, the equities of five of the largest companies by market capitalisation – BOV, GO, IHI, MIA, and RS2 – all maintained their previous closing prices. Bank of Valletta plc maintained the €2.18 level after recovering from an intra-day low of €2.17 (-0.5%). A total of 38,979 shares traded.
GO plc retained the €3.50 level after moving between an intra-day high of €3.559 (+1.7%) and a low of €3.49 (-0.3%). A total of 18,000 shares changed hands.
Malta International Airport plc (19,700 shares) and RS2 Software plc (7,200 shares) closed flat at €4.149 and €1.55 respectively. RS2 is scheduled to hold its Annual General Meeting on 20 June.
A single deal of just 1,418 shares left the equity of International Hotel Investments plc at the €0.62 level. IHI’s AGM is scheduled for 13 June.
Simonds Farsons Cisk plc held on to the €7.55 level after recording a new all-time high of €7.60. Trading took place across four deals totalling 7,592 shares. This morning, Farsons issued an Explanatory Circular with respect to the proposed spin-off of Trident Estates Limited into a separate company listed on the Malta Stock Exchange.
Plaza Centres plc maintained the €1.04 level across 24,000 shares. The Company paid its recently approved final net dividend of €0.0294 per share today.