MIA regains the €7.75 level

 

The MSE Equity Price Index opened the week in negative territory as it slipped by 0.46% to 4,830.616 points. Five companies ended lower, including the three largest banks and RS2. On the other hand, MIA extended its recent upsurge whilst four other shares closed the day unchanged. Trading activity amounted to €0.28 million, with the majority of today’s volumes taking place in BOV and MIA. Download today’s Equity Market Summary.

Malta International Airport plc added a further 1.3% to a two-month high of €7.75 across 7,674 shares. Shareholders as at the close of trading on 19 August will be entitled to receive a net interim dividend of €0.03 per share.

The other positive performing equity today was Santumas Shareholdings plc which soared by just over 17% to €1.64 albeit on trivial volumes.

Low trading activity also took place in HSBC Bank Malta plc and FIMBank plc. HSBC shed 1.3% back to the €1.52 level whilst FIMBank lost 4.4% to the USD0.65 level. HSBC is scheduled to publish its 2019 interim results on 5 August whilst FIMBank will report on its interim performance on 8 August.

Bank of Valletta plc retracted by 1.3% to the €1.105 level on activity totalling 88,900 shares. BOV is scheduled to publish its 2019 interim results on Wednesday 31 July.

Also among the large companies, RS2 Software plc eased by 0.5% back to the €1.82 level across 12,100 shares.

Trident Estates plc also dropped by 0.5% to the €1.91 level albeit on insignificant volumes.

Meanwhile, Simonds Farsons Cisk plc traded unchanged at the €10.00 level across 3,500 shares.

A single deal of just 2,500 shares left the equity of Medserv plc at the €1.16 level. The oil and gas logistics specialist is due to publish its interim results on 30 August.

GO plc opened at a low of €4.50 (-1.3%) before recovering to end flat at the €4.56 level across 5,700 shares. GO is expected to publish its interim results on 9 August.

BMIT Technologies plc maintained the €0.535 level across 51,850 shares. The company is scheduled to hold an Extraordinary General Meeting on 6 August in relation to the proposed acquisition of the data centre in Handaq. Two days later, on 8 August, BMIT is scheduled to publish its 2019 interim results.

The RF MGS Index erased most of last Friday’s decline as it rebounded by 0.06% to 1,154.274 points. Most of the price gains in Malta Government Stocks took place at the longer end of the yield curve. In fact, almost all MGS with maturities of thirteen years and over reached new record highs ahead of the start of the two-day US Federal Reserve monetary policy meeting tomorrow. It is widely expected that the world’s most influential central bank will cut interest rates by 25 basis points to a target range of between 2% and 2.25%.