MPC share price rises to near 3-month high

 

The MSE Equity Price Index remained virtually unchanged at just above 3,950 points as the gains recorded by MIDI, MPC and GO were offset by the declines in RS2 ordinary shares, MIA and MaltaPost. Meanwhile, BMIT, BOV and Lombard traded flat as overall trading activity improved to €0.13 million. Download today’s Equity Market Summary.

Malta Properties Company plc added 1.8% to a three-month high of €0.56 across 20,200 shares. Shareholders as at close of trading on Friday will be entitled to receive the payment of a net dividend of €0.012 per share.

Also in the property segment, MIDI plc surged almost 17% to recapture the €0.42 level on two deals totalling 12,000 shares. Last week, a local media report revealed that the Environment and Resources Authority does not have any objections for MIDI’s plans to develop Manoel Island.

The other positive performing equity today was GO plc with a gain of 0.6% to the €3.40 level across 2,600 shares.

GO’s managed IT services and data centre subsidiary – BMIT Technologies plc – remained at the €0.50 level across 16,000 shares.

In the retail banking sector, Bank of Valletta plc and Lombard Bank Malta plc traded unchanged at €0.90 and €1.96 respectively.

Malta International Airport plc retracted by 1.6% back to the €6.30 level on a total of 6,836 shares.

A single deal of just 5,000 shares forced the ordinary share price of RS2 Software plc to move 1.5% lower to the €1.95 level.

MaltaPost plc lost 4% to the €1.19 level on light volumes.

The RF MGS Index extended yesterday’s uplift by a further 0.07% to 1,105.425 points as trade data in Germany disappointed expectations signalling a slower pace of both exports and imports related to Europe’s powerhouse economy. Elsewhere, in the US, the Senate passed a bill enabling the Biden administration to spend up to USD250 billion on research and development for new technologies and to strengthen domestic production in key industries such as semiconductors. In China, producer prices rose by 9% in May year-on-year – the sharpest uplift in 13 years – fuelling concerns that pricier Chinese exports will push global inflation above the targets set by the most influential central banks.