RS2 share price surges to 6-week high
The MSE Equity Price Index extended its recovery as it added a further 0.28% to 4,029.280 points. The gains in six equities outweighed the declines in three companies whilst another three shares closed the day unchanged. Trading activity remained encouraging as €0.29 million worth of shares changed hands. Download today’s Equity Market Summary.
Ahead of the publication of the results for the 2019 financial year, RS2 Software plc rose 3% to a six-week high of €2.06 on heightened volumes totalling 47,531 shares.
A single deal of 2,000 shares lifted the equity of Bank of Valletta plc 0.5% higher to the €1.065 level.
PG plc regained the €1.84 level (+1.1%) across 8,466 shares.
BMIT Technologies plc added a further 0.4% to the €0.496 level across 37,800 shares. Shareholders as at close of trading today will receive a net dividend of €0.02157 per share. The dividend is payable on 4 June.
Trident Estates plc was the best performing equity as it rallied almost 15% to recapture the €1.55 level across 21,000 shares after most trades took place at the €1.38 level.
Within the same segment, Malita Investments plc added 1.2% to the €0.85 level across 35,000 shares.
GO plc lost 3.1% to the €3.80 level on two deals totalling 2,100 shares.
Lombard Bank Malta plc retreated by 0.9% to the €2.10 level albeit on light trading volumes.
The other negative performing equity today was Simonds Farsons Cisk plc with a drop of 0.6% to the €8.10 level across 2,775 shares.
Meanwhile, Malta International Airport plc (10,623 shares) and HSBC Bank Malta plc (15,705 shares) finished the day unchanged at €5.05 and €1.00 respectively.
A single deal of just 1,200 shares left the equity of Harvest Technology plc at the €1.46 level. Last Friday, Harvest published its 2019 financial statements showing a better-than-expected performance mostly on the back of growth registered within the ‘Payment Gateway Services’ segment. The Directors resolved to distribute a net final dividend of €0.018 per share to all shareholders as at close of trading tomorrow. The dividend will be paid on or around 15 May. In their commentary, the Directors explained that although the company started 2020 with a strong pipeline of work, future performance might be negatively affected due to the ‘COVID-19’ pandemic. They also added that Harvest will continue to pursue new business in niche markets as it aims at increasing its international presence through opportunities particularly in Europe and Africa.
The RF MGS Index opened the week in positive territory as it added 0.29% to 1,122.019 points. Developments across international financial markets were once again varied as the Bank of Japan unveiled new measures of monetary policy stimulus, the price of oil crashed by well over 20% whilst fresh trade tensions between the US and China re-emerged.