MSE Equity Price Index at 1-month high

 

The MSE Equity Price Index edged a further 0.46% higher to reach a fresh 1-month high of 4,852.967 points as MIA, FIMBank and three other equities trended higher to offset the declines in HSBC and Medserv. A further four equities ended the day unchanged. Meanwhile, trading activity contracted further to just below €0.2 million with the bulk of today’s activity taking place again in BOV, Malta Properties and BMIT. Over the week, the MSE Equity Price Index edged 0.96% higher largely due to the 7.7% rally in the share price of Malta International Airport plc. Download today’s Equity Market Summary.

Yesterday, Malta International Airport plc published its 2019 interim financial results revealing a record set of numbers as net profits increased by over 7% to almost €14 million on the back of sustained growth in passenger movements and other retail and property activity. The Directors of MIA declared an unchanged net interim dividend of €0.03 per share. Shareholders as at the close of trading on Monday 19 August will be entitled to receive the dividend which is expected to be paid by not later than Friday 13 September. The airport operator also reiterated its 2019 forecasts of a 5.8% increase in passenger movements to 7.2 million. Today, MIA’s share price edged 0.7% higher to a two-month high of €7.65 on a single deal of just 758 shares.

FIMBank plc jumped 7.9% higher to recapture the USD0.68 level also on a single trade of 4,192 shares.

Also in the banking sector, Lombard Bank Malta plc moved 1.8% higher to the €2.30 level on just 4,000 shares.

The bank’s subsidiary, MaltaPost plc also trended in positive territory with a 0.8% increase to €1.30 albeit on insignificant volumes of 500 shares.

The only other positive performing equity today was Malta Properties Company plc with a 3.1% jump to regain the €0.66 level on healthy volumes of 78,685 shares.

On the other hand, HSBC Bank Malta plc drifted 1.3% lower back to the €1.54 level on shallow volumes of 9,532 shares. The bank is scheduled to publish its 2019 interim results on Monday 5 August.

Similarly, Medserv plc slid 3.3% lower back to the €1.16 level on a single trade of 1,000 shares.

Meanwhile, Bank of Valletta plc rebounded from an intra-day low of €1.11 to end the session unchanged at the €1.12 level across a total of eleven deals comprising 45,750 shares. BOV is scheduled to publish its 2019 interim results next Wednesday 31 July.

RS2 Software plc retained the €1.83 level after recovering from an intra-day low of €1.82 on light volumes of 6,000 shares.

BMIT Technologies plc traded unchanged at the €0.535 level across three deals totalling 88,500 shares.

Likewise, Mapfre Middlesea plc held on to the €2.20 level on just 500 shares.

Following eight consecutive days of increase, the RF MGS Index eased minimally lower to 1,153.595 points reflecting the sharp rebound in eurozone yields yesterday afternoon after the 10-year German bund briefly touched an all-time low of -0.422%. The upturn followed comments by the European Central Bank (ECB) President, Mr Mario Draghi, in which he reiterated the readiness of the central bank to act if necessary but falling short of announcing new measures in the near term whilst also seeking to downplay fears that the eurozone was heading towards a recession. Mr Draghi further noted that a consensus on the expansionary monetary tools to be used has not yet been reached, thereby further disappointing markets which were expecting more immediate action.