The MSE Equity Price Index opened the week in positive territory as it added 0.13% to 4,820.199 points. Three companies trended higher today whilst only BMIT posted a decline. Meanwhile, GO, HSBC and MIA all traded unchanged whilst trading volumes contracted to €0.18 million.
Bank of Valletta plc advanced by 0.4% from its pre-bonus adjusted price of €1.255 to the €1.26 level after opening at a high of €1.33 (equivalent to €1.46 when adjusted for the 1-for-10 bonus share issue). A total of 67,521 shares changed hands. Last Thursday, BOV published a Prospectus in connection with the issuance of €50 million 3.75% unsecured subordinated bonds maturing between 2026 and 2031.
BOV’s insurance associate – Mapfre Middlesea plc – added 1.8% to the €2.24 level albeit on just 2,230 shares.
A single deal of 16,891 shares lifted the equity of Malta Properties Company plc 0.8% higher back to its 2019 high of €0.64. Tomorrow, MPC is scheduled to hold its AGM.
Conversely, BMIT Technologies plc slipped 0.9% lower to €0.545 on 12,800 shares.
Meanwhile, GO plc and HSBC Bank Malta plc remained at the €4.50 and €1.63 levels respectively on light trading volumes.
Four deals totalling 6,380 shares left the equity of Malta International Airport plc at the €7.50 level. Last Thursday, MIA published its traffic results for the month of May revealing a 4.8% increase in passengers to 0.67 million movements on the back of a 5.3% increase in seat capacity which was partially offset by a marginal decline in the seat load factor to 80.2%. Since the start of 2019, MIA welcomed a total of 2.5 million passengers, representing an increase of 4.2% over the corresponding period last year. Yesterday, the local media reported that Ryanair is expected to set up a new airline based in Malta.
The RF MGS Index moved to its highest level in nearly two-years as it soared by a further 0.29% to 1132.061 points. Bond yields across the globe remained under downward pressure as various major central banks are increasingly showing signs of caution amid the prevailing trade dispute between the US and China. On the economic front, industrial data in Italy continued to show the difficulties that the country is currently facing to restart economic expansion and return to stable growth.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.