MPC signs promise of sale for an additional property
The MSE Equity Price Index snapped a three-day winning streak as it lost 0.41% to 3,917.358 points as GO, Harvest and Farsons ended the day lower while three other equities closed unchanged. Meanwhile, overall trading activity remained subdued at €0.03 million. Download today’s Equity Market Summary.
GO plc lost 2.4% to the €3.32 level on a single deal of 1,250 shares.
Similarly, Harvest Technology plc shed 2% to the €1.50 level on two trades totalling 4,235 shares.
Simonds Farsons Cisk plc moved 3% lower albeit on insignificant volumes. Farsons is scheduled to publish its interim results on 29 September.
Malta International Airport plc remained at the €6.10 level after recovering from an intraday low of €6.00 (-1.6%) across four deals totalling 820 shares. Last Friday, MIA announced that passenger movements throughout August amounted to 407,435, which is 50.5% lower than the record amount of 823,653 movements during August 2019. However, August’s passenger traffic was 31% higher when compared to the previous month. Although these results surpassed expectations, the airport operator noted that the travel industry remains in the shadow of changing entry requirements, uncertainty, and short-term planning, as the aviation winter season looms on the horizon. MIA is currently working with partner airlines towards finalising a flight schedule for the upcoming season.
Bank of Valletta plc also closed unchanged at the €0.90 level on three trades totalling 13,500 shares after recovering from an intraday low of €0.89 (-1.1%).
Also in the retail banking sector, a single trade of 750 shares left HSBC Bank Malta plc at the €0.785 level.
Yesterday, Malta Properties Company plc announced that it entered into a promise of sale agreement with a+ Investments Ltd to purchase and acquire the ‘Mediterranean Building’ office complex located in Ta’ Xbiex for a total consideration of €8.75 million. The property is subject to ongoing lease agreements and consists of the entrance and common area on the ground-floor (including one half undivided share of a room on the ground floor), and all the floors overlying the ground-floor up to the roof, the roof and its overlying airspace with all its rights and appurtenances. A basement underlying the ground floor of the building does not form part of the property being acquired.
The RF MGS Index extended yesterday’s decline with a further 0.05% to 1,092.746 points. Signs that the recent spike in inflation may be transitory emerged from the publication of the US Consumer Price Index. The annual inflation rate in the US was 5.3% in August, slightly below the 5.4% reported in the previous month. Lower growth was noted in prices for used vehicles and transportation services, however, energy and food prices were still increasing at a faster pace.