The MSE Equity Price Index eased by 0.15% to 4,804.200 points on Thursday as declines in BOV, GO, Medserv and Malita outweighed the upsurge in IHI. Meanwhile, four companies closed the day unchanged whilst trading volumes remained relatively subdued.
Thursday's highlight was the publication of the interim financial results of RS2 Software plc.
The company reported a marked increase in revenues to €11.2 million compared to the adjusted figure of €9 million in H1 2018.
However, profitability was dented by the continued international expansion of the company particularly in Europe, the US and the Asia Pacific region. In their commentary, the directors provided a detailed explanation of the company’s strategy which is based on four main pillars – namely: (i) growing and expanding the managed services business; (ii) ramping up the US expansion; (iii) building its own direct acquiring business; and (iv) creating a partner network to deliver a true global acquiring solution.
During the trading session, the equity of RS2 closed unchanged at the €1.91 level after briefly touching an intra-day low of €1.89. A total of 17,147 shares changed hands.
Also among the large caps, Malta International Airport plc remained at the €7.45 level on trivial volumes.
BMIT Technologies plc continued to trade at the €0.53 level on weak volumes totalling 20,800 shares.
A single deal of 20,000 shares left the equity of MIDI plc at the €0.64 level.
Within the same segment, Malita Investments plc slipped 0.6% lower to the €0.845 level across 31,500 shares.
Medserv plc dropped by 0.8% to the €1.19 level on just 2,000 shares. Tomorrow, Medserv is due to publish its interim financial statements.
GO plc opened at a low of €4.36 (-2.2%) before partially recovering to the €4.42 level (-0.9%) on a total of 7,520 shares.
Bank of Valletta plc lost 1.8% to end at the €1.105 level across 49,638 shares.
The only positive performing equity today was International Hotel Investments plc which advanced by 2% to regain the €0.77 level across 32,797 shares.
Santumas Shareholdings plc published its full-year results covering the financial year ended 30 April 2019. The company reported a considerable improvement in profitability reflecting higher income from its portfolio of properties, dividend income and positive fair value movements. The equity remained inactive today.
The Board of Directors of PG plc was scheduled to meet today to consider and approve the financial statements for the year ended 30 April 2019. The equity remained inactive today.
The RF MGS Index trended positively for the fourth consecutive day as it added a further 0.08% to a new all-time high of 1,182.790 points. All prices of Malta Government Stocks with maturities of ten years and over climbed to fresh record highs as international sovereign bond yields remained under considerable downward pressure amid various concerns over the health of the global economy.
Meanwhile, investors welcomed the latest political developments in Italy whereby the Five Star Movement and the Democratic Party agreed to join forces and form a new government, thus avoiding a snap general election which would have probably given the anti-austerity League Party of Matteo Salvini a clear mandate to lead a new coalition.