The MSE Equity Price Index drifted lower for the third consecutive session as it eased by a further 0.11% to a one-week low of 4,822.051 points. Several equities trended in negative territory whilst only RS2 moved higher. Meanwhile, four companies closed the day unchanged as trading activity improved further to €0.39 million compared to €0.25 million yesterday.
RS2 Software plc climbed 3.8% to a fresh all-time high of €2.20 on two deals totalling 9,400 shares. The equity has rallied by almost 77% since the start of the year.
Also among the large companies, Malta International Airport plc retracted back to the €7.25 level (-1.4%) across 14,000 shares. Last Friday, MIA released its traffic results for the month of October in which it revealed an 8.8% increase in passenger movements to more than 700,000 passengers. October also marked the end of the Summer season (April-October) during which the company registered a 7.7% increase to 5.1 million passenger movements.
GO plc slipped by 0.5% to the €4.22 level on a total of 22,620 shares.
Two deals totalling 11,900 shares forced the equity of PG plc to move 3.8% lower to the €1.77 level.
Light trading activity also took place in the equities of Santumas Shareholdings plc and Mapfre Middlesea plc which dropped by 1.4% and 0.9% to €1.40 and €2.14 respectively.
In the property segment, MIDI plc shed 0.7% to the €0.71 level across 30,000 shares whilst Malta Properties Company plc traded unchanged at the €0.66 level on trivial volumes.
Bank of Valletta plc held on to the €1.10 level after failing to cling to a high of €1.12 (+1.8%) on a total of 29,557 shares. Yesterday, the bank announced the appointment of Mr Ricky David Hunkin as its new CEO as from 1 January 2020. Mr Hunkin has over 40 years of experience in banking whereby he occupied various roles with a number of international companies.
Three deals totalling 123,000 shares left the equity of BMIT Technologies plc at the €0.52 level.
MaltaPost plc opened at a low of €1.24 (-0.8%) before closing flat at the €1.25 level albeit on insignificant volumes.
Main Street Complex plc issued an Interim Directors’ Statement covering the period from January to September 2019. In this respect, the company explained that footfall increased by 8% over the same period last year to an all-time high.
Furthermore, revenues continued to increase as a result of attaining full occupancy, higher rental rates charged to tenants as well as the generation of new income from the PV panels and the operation of the car park. Going forward, Main Street Complex noted that it expects its profitability to improve further on the back of a new café and restaurant at the mall’s roof terrace as well as cost savings.
However, despite the various improvements, the company added that due to the delay in reaching full occupancy, its 2019 financial targets are likely to be slightly missed. These are now expected to be reached in the 2020 financial year. Main Street Complex also added that it actively looks ahead for prospective investments that would lead to the eventual expansion of the company and its business.
The RF MGS Index extended its recent declining trend as it slipped by a further 0.29% to a four-month low of 1,145.193 points amid buoyant sentiment across international financial markets.