Daily Market Highlights (24.06.2019)

MIA & BOV dominate trading activity

 

The MSE Equity Price Index opened the week slightly lower as it eased by 0.09% to 4,866.340 points. The declines in IHI and MIA marginally outweighed the gain in RS2 whilst six other companies closed the day unchanged. Overall, most of today’s activity took place in MIA and BOV as trading in these two equities represented 80% of total volumes. Download today’s Equity Market Summary.

Malta International Airport plc slipped by 0.7% to the €7.20 level after partially recovering from an intra-day low of €7.00 across a total of 22,178 shares.

Also, among the large companies by market capitalisation, International Hotel Investments plc shed 1.1% back to the €0.89 level albeit on just 11,275 shares. Shareholders as at close of trading on Wednesday 26 June will be entitled to receive a net dividend of €0.02 per share.

In contrast, RS2 Software plc climbed by a further 2.1% to a fresh 2019 high of €1.48 on a total of 9,000 shares.

In the banking sector, FIMBank plc and HSBC Bank Malta plc traded unchanged at the USD0.61 and €1.62 levels respectively on shallow volumes.

Bank of Valletta plc maintained the €1.21 level after recovering from an intra-day low of €1.19 (-1.7%). A total of 77,472 shares changed hands today.

BOV’s insurance associate, Mapfre Middlesea plc, remained at its three-month low of €2.00 across 10,500 shares.

A single deal of just 4,400 shares left the equity of Medserv plc at the €1.14 level.

BMIT Technologies plc continued to trade within a tight range as the equity ended unchanged at the €0.54 level across 13,390 shares.

Last Friday, PG plc announced that its Board of Directors is scheduled to meet on 1 July 2019 to consider and approve the payment of the second interim dividend for the financial year ended 30 April 2019. The equity remained inactive today.

The RF MGS Index dropped by 0.05% to 1,138.407 points as movements in prices of Malta Government Stocks mostly reflected changes in the yields of Spanish government bonds. Meanwhile, speculation emerged that the European Commission might give Italy six months (instead of three) to introduce changes to its fiscal policies and thus avoid entering excess deficit procedures.