The MSE Equity Price Index fell by 0.37% to a fresh one-month low of 4,774.598 points on Thursday.
The drop was mostly driven by the declines in HSBC, BOV, MIA and IHI which outstripped the gains in Malita and MPC. Meanwhile, MIDI, PG and Farsons closed the day unchanged whilst trading activity remained weak as only €0.11 million worth of shares changed hands.
Thursday's highlight was the publication by BMIT Technologies plc of an interim directors’ statement providing indications about the company’s performance since the start of 2019. BMIT explained that its performance continues to be positive reflecting the company’s drive to increase its service offerings. Revenue during the first nine months of 2019 were 5.8% higher when compared to the same period last year.
Furthermore, the growth in revenues of 5.8% is also superior to the rate of increase of 4.5% as projected in the prospectus dated 7 January 2019. BMIT added that as revenue growth is expected to be sustained during the last three months of 2019, it is now expecting to achieve its 2019 objectives comfortably. BMIT’s equity remained inactive today.
In the banking sector, Bank of Valletta plc eased by 0.5% to the €1.095 level across 29,442 shares whilst HSBC Bank Malta plc lost 1.6% to the €1.27 level albeit on just 960 shares.
Low trading activity also took place in the equities of Medserv plc and Plaza Centres plc which retracted by 3.8% and 1% to €1.25 and €1.02 respectively.
Two deals totalling 14,400 shares forced the equity of Malta International Airport plc to move 0.7% lower back to the €7.20 level.
Similarly, International Hotel Investments plc moved back to the €0.80 level (-0.6%) across 9,832 shares.
In the property segment, Malta Properties Company plc climbed 3% to the €0.68 level across 22,300 shares whilst Malita Investments plc regained the €0.915 level (+1.7%) on trivial volumes.
Conversely, two deals totalling 18,000 shares left the equity of MIDI plc at the €0.65 level.
PG plc also traded flat at the €1.79 level across 10,700 shares.
Simonds Farsons Cisk plc retained the €11.50 level on light trading activity.
The RF MGS Index trended lower for the first time in four days as it slipped by 0.17% to 1,151.049 points.
On Thursday the ECB published the minutes of the most recent monetary policy meeting. These showed that whilst there was “broad agreement” that monetary policy needed to be “highly accommodative for an extended period of time”, some members of the ECB Governing Council expressed concern about the negative effects of the central bank’s loose monetary policy.