The MSE Equity Price Index added 0.18% to 4,830.971 points as the uplifts in the share prices of three large companies – namely MIA, BOV and RS2 – outweighed the declines in three other equities.
Meanwhile, trading activity contracted further to €0.27 million with the bulk of Thursday's activity taking place again in BOV and RS2.
The main development across the local equity market was the publication by MIA of the company’s interim financial results. The airport operator reported a record set of numbers as net profits increased by over 7% to almost €14 million on the back of sustained growth in passenger movements and other retail and property activity. The directors of MIA declared an unchanged net interim dividend of €0.03 per share. Shareholders as at the close of trading on Monday August 19 will be entitled to receive the dividend which is expected to be paid by not later than Friday September 13. The airport operator also reiterated its confidence in achieving its 2019 forecasts of a 5.8% increase in passenger movements to 7.2 million. On Thursday, MIA’s share price climbed by 1.3% to a two-month high of €7.60 on activity totalling 2,428 shares.
Bank of Valletta plc erased some of Wednesday’s decline as the equity rebounded by 0.9% to the €1.12 level across 83,820 shares. The bank is due to publish its interim financial statements on July 31.
RS2 Software plc recaptured the €1.83 level (+0.5%) on volumes totalling 55,000 shares.
Among the larger companies, Simonds Farsons Cisk plc traded unchanged at the €10.00 level across 2,000 shares.
PG plc opened at a low of €1.58 (-1.3%) before recovering to end flat at the €1.60 level across 20,942 shares.
Two deals totalling 5,000 shares left the equity of Malta Properties Company plc at the €0.64 level. MPC is due to publish its interim results on August 12.
Within the same segment, Malita Investments plc dropped by 0.6% to the €0.86 level albeit on trivial volumes.
Low trading activity also took place in the equities of Lombard Bank Malta plc and Mapfre Middlesea plc which shed 1.7% and 2.7% to €2.26 and €2.20 respectively.
On Thursday, MIDI plc announced that its board of directors is scheduled to meet on Wednesday August 21 to consider and approve the interim financial statements for the six-month period ended June 30, 2019. The equity remained inactive on Thursday.
The RF MGS Index soared by 0.28% to 1,154.264 points (the highest level since the end of 2016) ahead of the ECB monetary policy during which the central bank hinted about the possibility of an interest rate cut in the coming months. In reaction, euro sovereign bond yields slumped, with the benchmark German Bunds falling to new record lows.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.