The MSE Equity Price Index slipped by 0.37% to 4,854.873 points as several equities trended lower whilst only MIA, BMIT and Farsons posted gains. Meanwhile, four other shares closed unchanged whilst trading activity increased to €0.88 million - the highest level in one month.
In the retail banking sector, HSBC Bank Malta plc, Bank of Valletta plc and Lombard Bank Malta plc all ended the day in negative territory.
HSBC moved back to its multiyear low of €1.36 (-3.5%) across 60,888 shares. BOV shed 1.3% to the €1.14 level after falling to hold on to an intra-day high of €1.17 on a total of 92,578 shares.
A single deal of 50,000 shares forced the equity of Lombard to move 0.9% lower back to the €2.26 level. BOV’s insurance associate – Mapfre Middlesea plc – retracted by 2.7% to the €2.14 level across 8,250 shares.
Light trading activity also took place in MaltaPost plc and GO plc which dropped by 3% and 1.9% to €1.31 and €4.20 respectively. International Hotel Investments plc slipped by 0.6% to the €0.78 level on volumes of 84,650 shares. The other negative performing equities today were MIDI plc and Tigné Mall plc.
MIDI dropped by 0.7% to the €0.685 level across 91,100 shares whilst higher trading volumes amounting to 146,000 shares forced the equity of Tigné Mall to end 0.5% lower at the €0.91 level.
Also in the property segment, Malita Investments plc (11,111 shares) and Malta Properties Company plc (2,934 shares) traded flat at €0.895 and €0.665 respectively. Likewise, RS2 Software plc retained the €1.92 level across 45,124 shares and PG plc closed unchanged at the €1.87 level on activity of 40,000 shares.
Meanwhile, Simonds Farsons Cisk plc rallied to yet another new record high of €12.10 (+5.2%) albeit on trivial volumes. BMIT Technologies plc regained the €0.53 level (+2.9%) across 130,170 shares whilst Malta International Airport plc climbed 1.2% to recapture the €7.60 level on activity totalling 5,200 shares.
On Monday, nMIA announced its September traffic results revealing a 7.8% increase in passenger movements to a new record of 762,36 passengers.
Furthermore, despite the substantial increase in seat capacity, the seat load factor improved marginally to 86.2%.
During the first nine months of 2019, a total of 5.6 million passenger movements were registered, representing an increase of 6.5% over the previous corresponding period last year.
MIA had stated on 17 January 2019 that it is expecting passenger movements to increase by 5.8% to 7.2 million in 2019.
On Tuesday, MeDirect Bank (Malta) plc announced that it received regulatory approval for the issuance of new €35 million 4% subordinated and unsecured bonds maturing in 2029 but which may be also redeemable earlier as from 2024.
The existing 6% 2019/24 subordinated and unsecured bonds are exchangeable into the new bonds. The RF MGS Index extended yesterday’s drop by a further 0.31% to a one-week low of 1,175.165 points as eurozone sovereign bond yields moved sharply higher amid a strong rebound in German and Spanish industrial production.
Meanwhile, uncertainty over the resumption of trade negotiations between the US and China resurfaced again after the US Commerce Department said that it was adding more Chinese companies and government entities to its export blacklist for their alleged role in repression in the Xinjiang region. www.rizzofarrugia.com