Light trading activity across the equity market

 

The MSE Equity Price Index extended yesterday’s gain by a further 0.46% to 4,799.185 points. Four companies trended higher, including BOV and MIA. On the other hand, RS2 and GlobalCapital nudged lower whilst five other shares ended unchanged. Trading activity dropped considerably to €0.27 million compared to an average of over €0.6 million during the previous five trading sessions. Download today’s Equity Market Summary.

Bank of Valletta plc regained the €1.14 level (+1.8%) across 97,728 shares.

A single deal of just 1,000 shares lifted the equity of Malta International Airport plc 1.4% higher back to the €7.00 level. The airport operator is due to publish its interim financial results on Thursday 25 July. The Directors will also consider the payment of an interim dividend.

Low trading activity also took place in the equity of Mapfre Middlesea plc which surged by 2.7% to the €2.26 level. Last Friday, the insurance group published its 2019 interim results revealing a 14.5% increase in net profits to €4.3 million largely on the back of improved business within the Group’s non-life segment.

In the property segment, Tigné Mall plc briefly touched a new 2019 low of €0.87 (-1.1%) before recovering to end the day 2.3% higher at the €0.90 level on a total of 50,875 shares.

Conversely, Malita Investments plc (€0.86), Plaza Centres plc (€1.00) and Trident Estates plc (€1.92) all remained unchanged on light trading activity.

Similarly, MaltaPost plc retained the €1.29 level across 10,100 shares.

GO plc traded unchanged at the €4.58 level on three deals totalling 12,350 shares.

RS2 Software plc slipped by 1.1% to the €1.81 level after partially recovering from an intra-day low of €1.76 (-3.8%). A total of 14,000 shares changed hands.

GlobalCapital plc plunged 5.3% to the €0.25 level on trivial volumes.

Following the declines in the previous two days, the RF MGS Index rebounded by 0.37% to 1,142.479 points as sovereign bond yields in the euro area resumed their recent downward trend amid disappointing inflation data in Italy as well as additional signs of increased pessimism among German institutional investors and analysts.

Hili Finance Company plc today announced that it submitted an application to the Listing Authority requesting the admissibility to listing of €80 million unsecured bonds maturing in 2029 with an interest rate of 3.8% per annum. Subject to obtaining regulatory approval, an amount of €40 million will be reserved for subscription by Preferred Applicants which include bondholders in the following bonds: 5.1% 1923 Investments plc unsecured bonds 2024, 4.5% Hili Properties plc unsecured bonds 2025, 3.75% Premier Capital plc unsecured bonds 2026 and 3.85% Hili Finance Company plc unsecured bonds 2028. The remaining €40 million will be available for subscription by the general public.