The MSE Equity Price Index trended higher for the first time in six days on Monday as it rebounded by 0.4% to 3,978.286 points albeit on subdued trading activity. MIA, RS2 and PG posted gains whilst IHI and Farsons closed the day unchanged.
Malta International Airport plc regained the €5.00 level (+2%) after rebounding from an intra-day low of €4.88 (-0.4%). A total of 10,594 shares changed hands.
Also among the large companies, RS2 Software plc added 1.5% to the €2.00 level across 1,292 shares.
A single deal of 1,800 shares lifted the equity of PG plc 1.1% higher back to the €1.87 level.
Meanwhile, International Hotel Investments plc retained the €0.57 level on two deals totalling 11,370 shares. Last week, IHI reiterated that its plans for ‘Hal-Ferh’ is to pursue an upmarket low-rise mixed development focused principally on a luxury hotel and spa complemented by serviced villas and bungalows. This will also be pursued in line with the Group’s long-term strategy of positioning the Corinthia brand as an international luxury brand targeting the more discreet and upmarket clientele.
Simonds Farsons Cisk plc traded flat at the €8.25 level on trivial volumes. The company is due to publish its 2019/20 financial results on 27 May.
The RF MGS Index opened the week in negative territory as it retracted by 0.16% to a two-month low of 1,108.809 points. Prices of Malta Government Stocks continued to lose ground amid encouraging signs of progress in the search for a vaccine against the ‘COVID-19’. Furthermore, international financial markets also welcomed the comments made by the US Fed Chairman who said that the central bank is “not out of ammunition by a long shot” in its ability to support economic recovery which he warned could stretch into 2021.