The MSE Equity Price Index extended Monday's decline by a further 0.3% to 4,671.982 points, reflecting the drops in the share prices of IHI, BOV and GO which, in aggregate, outweighed the gains in three other shares. Trading volumes remained on the low side as €0.26 million worth of shares changed hands.
International Hotel Investments plc shed 2.7% to the €0.73 level on two deals totalling 110,000 shares.
GO plc eased 0.8% to the €4.82 level across 7,940 shares. The equity is still trading with the entitlement to total net dividends of €0.55 per share.
Also among the large companies, Bank of Valletta plc dropped by a further 1.1% to the €1.335 level on light volumes totalling 14,500 shares.
In contrast, HSBC Bank Malta plc added 1.2% to regain the €1.65 level across 55,631 shares.
PG plc climbed by 1.4% to a fresh over 15-month high of €1.45 albeit on just 5,500 shares on continued positive sentiment towards the equity.
The other positive performing equity on Tuesday was BMIT Technologies plc with a gain of 0.9% to recapture the €0.535 level across 34,600 shares.
Within the same sector, a single deal of 5,600 shares left the equity of RS2 Software plc at the €1.41 level.
On Monday, Main Street Complex plc reported a 5.5% increase in pre-tax profits in 2018 to €0.44 million as the company’s commercial property located in central Paola benefitted from a record footfall. The directors are recommending the payment of a final net dividend of €0.00981 per share. Shareholders as at close of trading on April 15 will be entitled to receive the dividend on May 22, 2019. In their commentary, the directors highlighted that the company is now debt-free and that they look forward to another successful year on the back of the robust economic environment, strong footfall levels and full occupancy. The equity remained inactive on Tuesday.
The RF MGS Index trended higher for the third consecutive day as it added a further 0.07% to 1,114.045 points. Bond yields in the euro area continued to decline amid uncertainties on whether the US and China will reach an agreement over trade. Meanwhile, the International Monetary Fund (IMF) on Tuesday published its latest World Economic Outlook whereby it revised lower again its economic growth forecast for the world economy to +3.3% in 2019 from the previous estimate of +3.5%. Specifically to the euro area, the IMF is now expecting the single currency block to register a growth of 1.3% in 2019 compared to the previous forecast of +1.6%.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.