MedservRegis to consider share and bond buybacks

The MSE Equity Price Index rose by 0.44% to 3,785.384 points as the gains in HSBC, IHI, Mapfre Middlesea and the ordinary shares of RS2 outweighed the declines in GO, Lombard, Medserv, and Malta Properties Company. Meanwhile, three equities closed unchanged as today’s total trading activity in local equities amounted to €0.1 million. Download today’s Equity Market Summary.

MedservRegis plc decreased by 2.2% to the €0.44 level, after recovering from an intra-day low of €0.35 (-22.2%) across seven deals amounting to 13,105 shares. Today, MedservRegis announced that the Board of Directors is presently evaluating the possibility of effecting a share and/or bond buyback. The evaluation includes aspects from a corporate, financial, timing and regulatory perspective, whilst also maintaining a focus on dividend distributions. The Board stated that no guarantee can be given that any buyback will be carried out and noted that it will keep the market informed.

Today’s most actively traded equity – GO plc – fell by 4.2% to a 10-month low of €2.72 across nine deals amounting to 21,301 shares.

Malta Properties Company plc fell by 2.9% to the €0.33 level over two deals totalling 21,301 shares.

Lombard Bank Malta plc shed 1.3% to the €0.78 level, albeit over trivial volumes.

In contrast, HSBC Bank Malta plc gained 1.2% to the €1.66 level across six deals amounting to 14,676 shares.

Mapfre Middlesea plc increased by 5.0% to the €1.26 level as 900 shares changed hands.

A single trade of 4,672 shares pushed the share price of International Hotel Investments plc 1.9% higher to the €0.424 level.

The ordinary shares of RS2 plc rebounded by 16.0% to the €0.58 level on two trades amounting to 8,726 shares.

BMIT Technologies plc held the €0.342 level on a single deal of 3,000 shares.

Bank of Valletta plc closed unchanged at the €1.67 level after recovering from an intraday low of €1.65 (-1.2%).

Also among large companies by market value, Malta International Airport plc remained at the €5.95 level as 840 shares changed hands.

Today, AX Real Estate plc announced that its Board of Directors is scheduled to meet on Tuesday 10 September 2024 to consider the declaration of an interim dividend.

The RF MGS Index increased for the fourth consecutive session as it rose by 0.25% to a two-year high of 911.031 points. Euro area sovereign bond yields continued to drop as economic growth figures in the single currency bloc were revised downwards for the second quarter. Furthermore, the expansion in the total number of persons employed in the euro area also slowed down during the second quarter. Elsewhere in the US, additional labour market data continued yesterday’s declining trend as the total number of jobs added in August was below expectations.

 

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap—370 of the Laws of Malta and a member of the Malta Stock Exchange.