Daily Market Highlights (21.05.2019)

The MSE Equity Price Index trended in positive territory for the fourth consecutive session with a further 0.3% increase to 4,777.705 points as eight equities including BOV, MIA, GO and Farsons moved higher. On the other hand, HSBC was the only negative performer today whilst a further four equities ended the session unchanged. Download today’s Equity Market Summary.

The RF MGS Index extended yesterday’s drop as it retracted by 0.15% to 1,115.693 points. Changes in the prices of Malta Government Stocks mostly reflected movements in Italian government bond yields which, in turn, drifted higher amid growing differences of opinion and policies between the two governing partners made up of the Northern League and the 5-Star Movement.

Simonds Farsons Cisk plc reached yet another record high as it edged a further 3% higher to close at the €10.30 level across 4,902 shares. Last week, Farsons reported improved profitability for the 2018/19 financial year as all the Group’s operational segments registered growth amid favourable dynamics of the local economy. The Directors are recommending a 15.4% increase in the final net dividend to €0.10 per share which is payable on 25 June to all shareholders as at close of trading tomorrow subject to shareholders’ approval during the upcoming AGM scheduled to be held on 24 June.

Malta International Airport plc also trended higher for the second consecutive session as it edged 0.7% higher to close at the €7.05 level albeit on a single trade of 1,000 shares.

Bank of Valletta plc trended in positive territory today with a 0.8% increase to €1.34 across shallow volumes of 8,500 shares. Shareholders as at close of trading on 6 June will be entitled to a 1-for-10 bonus share.

GO plc slipped to an intra-day low of €4.10 before rebounding to end today’s session at the €4.26 level representing a 0.5% increase compared to the previous closing price. A total of 39,805 shares were exchanged across twelve deals. The quadruple play telecom operator is due to hold its AGM on 28 May.

Similarly, BMIT Technologies plc trended in positive territory with a 0.9% increase to €0.54 on low volumes of 25,002 shares.

Positive movements also recorded in the property segment with Tigne Mall plc edging 0.5% higher to €0.915 on volumes of 65,500 shares and Malita Investments plc rising 0.6% to €0.835 across 30,051 shares. Similarly, Plaza Centres plc moved 1% higher to regain the €1.00 level on shallow volumes of 9,624 shares.

On the other hand, the share price of HSBC Bank Malta plc 1.2% lower back to the €1.70 level across three deals totalling 3,666 shares.

Meanwhile, no changes in the share price of FIMBank plc at the USD0.65 level (18,700 shares) and Lombard Bank Malta plc at the €2.32 level (3,485 shares).

Likewise, International Hotel Investments plc held on to the €0.80 level across 60,000 shares and RS2 Software plc retained the €1.38 level on a single deal of 6,006 shares.