The MSE Equity Price Index trended higher for the first time in four days as it rebounded by 0.46% to 4,306.374 points on Tuesday. Today’s gain was due to the uplift in the share price of IHI which outweighed the declines in BOV and Trident. Meanwhile, a further four shares closed the day unchanged.

Bank of Valletta plc retreated by 0.7% back to the €1.50 level on continued high volumes totalling 310,697 shares.

Trident Estates plc eased by 0.8% to the €1.32 level albeit on just 360 shares.

Light trading activity also took place in the equity of International Hotel Investments plc which surged by 6.7% to regain the €0.64 level on a single deal of 1,000 shares. IHI still has to announce the date of the publication of its interim financial statements.

Meanwhile, GO plc traded unchanged at the €3.40 level across 26,245 shares. Last Friday, the telecoms operator reported an increase of almost 10% in operating profits to €16 million – the highest in the past fourteen years. In their commentary, the directors explained that the company managed to register an improved level of performance despite the various challenges pertaining to the telecoms markets in both Malta and Cyprus.

This was possible as GO focuses on improving the level of experience delivered to its customers through product innovation and investments whilst also controlling costs.

Malita Investments plc retained the €0.855 level on two deals totalling 130,000 shares. Last Friday, Malita reported a net profit of €5.5 million in the first six months of 2018. In their commentary, the directors explained that the company has ongoing negotiations on a number of projects. Furthermore, the Board of Directors is also currently considering and evaluating other potential projects. Shareholders as at close of trading on August 21 will be entitled to receive a net interim dividend of €0.00858 per share.

Within the same segment, Malta Properties Company plc (25,000 shares) and Plaza Centres plc (16,775 shares) closed flat at €0.52 and €1.00 respectively.

This afternoon, FIMBank plc issued its interim financial results as at 30 June 2018. The trade finance specialist reported a net operating profit before impairment allowances of USD9.79 million which is significantly higher than the comparable figure of USD2.74 million in the first six months of 2017. Overall, FIMBank posted a net profit of USD6.04 million compared to USD4.06 million last year. In their commentary, the directors explained that in the months ahead, the bank will continue exploiting its strong expertise and franchise to grow its business. The equity remained inactive today.

The RF MGS Index extended Monday's decline by a further 0.09% to 1,093.697 points as eurozone yields moved mostly higher amid positive preliminary GDP growth data for the entire eurozone as well as encouraging readings from various indices gauging economic and investor sentiment.


Comments not loading?

We recommend using Google Chrome or Mozilla Firefox.

Comments powered by Disqus