Daily Market Highlights (10.08.2021)

GO resumes interim dividend payments

 

The MSE Equity Price Index climbed by 0.27% to 3,879.842 points as the gains in GO and Trident outweighed the decline in Santumas. Meanwhile, IHI, Maltapost and PG closed unchanged as overall trading activity improved marginally to just over €0.1 million. Download today’s Equity Markey Summary.

GO plc advanced by 1.2% to the €3.44 level on seven deals totalling 13,847 shares. Yesterday, GO published its interim financial results covering the six-month period ended 30 June 2021. Revenues increased by 2.5% to a record (at interim stage) of €93.9 million compared to €91.6 million in the previous comparable period, reflecting the increased business activity by its subsidiaries Cablenet Communication Systems plc and BMIT Technologies plc. Due to a higher level of expenses, EBITDA eased by 1.9% to €34.8 million (H1 2020: €35.5 million) which, in turn, translates into an EBITDA margin of 37.1% compared to 38.8% in the first half of 2020. The net profit for the period amounted to €3.91 million. For the first time since 2007, the Board of Directors of GO elected to distribute a net interim dividend of €0.07 per share to all shareholders as at close of trading on 16 August 2021.

Similarly, Trident Estates plc surged by 12.1% to the €1.57 level on a single deal totalling 2,800 shares.

Meanwhile, Santumas Shareholding plc traded for the first time in five months as it shed 6.5% to the €1.30 level on a single trade of 759 shares.

International Hotel Investments plc closed unchanged at the €0.65 level on one deal of 1,750 shares.

Three trades totalling 40,000 shares left Maltapost plc unchanged at the €1.24 level.

Similarly, PG plc traded flat at the €2.20 level on trivial volumes.

The RF MGS Index recovered some of yesterday’s losses as it gained 0.06% to 1,106.047 points reflecting the drop in yields of long dated governments bonds. The Eurozone ZEW Economic Sentiment index lowered to a 9-month low on fears of a slowing recovery. Meanwhile in the US, the Senate is expected to hold its final vote on the $1 trillion infrastructure bill today. The proposed legislation includes bipartisan support and is aimed towards improving efficiencies, rebuilding of roads, and new social programmes.

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