The MSE Equity Price Index opened the week in negative territory as it slipped by 0.85% to a 2-month low of 3,623.524 points. Several equities trended lower whilst APS, RS2, IHI and Farsons ended higher. Meanwhile, FIMBank HSBC and MPC closed unchanged as overall trading activity in equities contracted to €0.09 million.
APS Bank plc was the most actively traded equity today as it inched 0.8% higher to the €0.665 level on a total of 52,228 shares having a market value of €0.03 million.
The ordinary shares of RS2 Software plc rebounded by 3.3% to the €1.57 level across 11,500 shares. This morning, RS2 held its Annual General Meeting during which the company also provided an update on its business in line with its strategy of expanding its presence across various regions around the world.
Simonds Farsons Cisk plc recaptured the €7.25 level (+0.7%) on 1,750 shares.
A single deal of just 130 shares lifted the share price of International Hotel Investments plc by 5.1% to the €0.62 level.
Negligible trading volumes were also transacted in the equities of five companies, all of which finished the day in negative territory. Bank of Valletta plc moved back to the €0.90 level. LifeStar Holding plc and Loqus Holdings plc posted sharp double-digit declines to €0.20 and €0.091 respectively. Similarly, MIDI plc and Main Street Complex plc retracted by more than 10% to €0.312 and €0.352 respectively.
MIDI published an updated Financial Analysis Summary showing that in 2022, the company is expecting to register a net loss of €2.5 million reflecting the absence of any property sales due to lack of units available for sale.
Also in the property segment, Trident Estates plc eased by 0.7% to the €1.43 level albeit on just 1,750 shares.
AX Real Estate plc drifted 1.8% lower to the €0.55 level on a total of 20,200 shares.
The other negative performing equity today was Mapfre Middlesea plc with a drop of 4.2% to the €1.81 level on volumes totalling 3,987 shares.
Meanwhile, HSBC Bank Malta plc and Malta Properties Company plc traded flat at €0.765 and €0.50 respectively on trivial volumes.
Two deals totalling 696 shares left the share price of FIMBank plc at the USD0.21 level.
The RF MGS Index snapped a three-day positive streak as it dropped by 0.58% to 934.279 points. Sovereign bond yields in the euro area moved higher as geo-political tensions between Russia and NATO intensified further after reports emerged that NATO is increasing its presence substantially in Eastern Europe. Meanwhile, news also broke out that Russia missed a deadline for paying international bondholders in a sign reflecting the implications of the harsh sanctions on the country’s economy and financial system.
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