BMIT share price surges 12% on debut
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BMIT share price surges 12% on debut

The MSE Equity Price Index climbed 1.21% to a four-month high of 4,543.662 points as various equities trended higher while only MPC finished in negative territory. Much of Monday's attention was centred around BMIT as the equity started trading following the listing of the company’s shares on the MSE Official List last Friday.

BMIT Technologies plc rose 12.2% to the €0.55 level from its IPO price of €0.49 on high volumes totalling 3.56 million shares having a market value of €1.97 million. BMIT is 51% owned by GO plc and specialises in the provision of data centre, cloud and managed IT services, offering an extensive range of services and solutions to a wide range of business customers.

Positive sentiment towards GO plc lifted the equity to yet another multi-year high of €4.40 (+0.9%) on a total of 6,846 shares. The company is due to publish its 2018 full-year financial results on March 8.

Ahead of publication of the 2018 full-year results on Tuesday, HSBC Bank Malta plc advanced by 1.8% to regain the €1.74 level, albeit on just 1,085 shares.

International Hotel Investments plc added 5.4% to the €0.68 level (the highest in almost eight months) on volumes of 42,780 shares and RS2 Software plc edged 0.7% higher to €1.47 on activity of 5,790 shares.

Grand Harbour Marina plc soared by nearly 15% to the €0.70 level on three deals totalling 14,000 shares.

In the property segment, Plaza Centres plc, MIDI plc and Malita Investments plc all posted gains on Monday. Plaza increase by 2% to the €1.02 level across 20,000 shares. MIDI and Malita advanced by over 1% to €0.66 and €0.91 respectively.

In contrast, Malta Properties Company plc slipped by 1.8% to settle at the €0.55 level across 22,275 shares.

Meanwhile, Tigné Mall plc and Trident Estates plc closed unchanged at €0.95 and €1.35 respectively on light volumes.

Bank of Valletta plc managed to retain the €1.26 level after recovering from a fresh multi-year low of €1.235 (-2%). A total of 42,802 shares changed hands. On Monday, the bank announced that its Board of Directors is scheduled to meet on March 15 to consider and approve the financial statements for the year ended December 31, 2018. BOV also notified that its Annual General Meeting will be held on May 9.

Five deals totalling 4,730 shares left the equity of Malta International Airport plc at the €6.40 level. MIA will be publishing its annual financial statements on Wednesday February 20.

Medserv plc maintained the €1.10 level across 46,700 shares.

MaltaPost plc also ended flat at €1.28 on 10,118 shares while Mapfre Middlesea plc held to the €2.00 level across trivial activity.

The RF MGS Index opened the week in positive territory as it rebounded by 0.03% to 1,104.406 points. Movements in Malta Government Stock prices were mostly influenced by the drops in the yields of Spanish and Italian government bonds whilst those of Germany trended higher. Activity across international financial markets was relatively subdued as US markets were closed.

www.rizzofarrugia.com

Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.

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