Various equities trend lower
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Various equities trend lower

The MSE Equity Price Index lost 0.55% on Thursday to 4,642.576 points as various equities performed negatively while only Mapfre Middlesea trended higher. Meanwhile, MPC and Trident Estates plc closed the day unchanged while trading volumes contracted sharply to just €0.13 million.

Ahead of the publication of the 2018 financial results, Bank of Valletta plc eased by 0.8% to the €1.25 level across 23,359 shares.

Malta International Airport plc also eased by 0.8% to €6.55 on activity totalling 3,260 shares. On Thursday afternoon the local media reported that Ryanair announced its schedule for winter 2019/20 showing an additional 15 routes.

A single deal of 10,362 shares forced the equity of FIMBank plc to move almost 3% lower to the $0.68 level FIMBank is due to report its 2018 financial results on March 23.

GO plc shed 1.6% to the €4.90 level across 9,000 shares. Shareholders as at April 24 will be eligible to a net ordinary dividend of €0.14 per share for the 2018 financial year as well as a special interim dividend of €0.41 per share.

MaltaPost plc retreated by 1.6% to the €1.24 level on trivial activity. On Wednesday, the postal operator paid a net dividend of €0.04 per share for the 2017/18 financial year.

In the property segment, Tigne’ Mall plc retreated to its 2018 low of €0.90 (-2.2%) on activity totalling 26,000 shares while Malita Investments plc extended its recent decline by a further 3.4% to €0.86 albeit on insignificant volumes. On Thursday morning, Tigne’ Mall announced that its board of directors is scheduled to meet on Thursday April 4 to consider and approve the company’s financial statements for the year ended December 31. Meanwhile, Malita shareholders as at close of trading on April 3 will be eligible to a final net dividend of €0.01417 per share.

In contrast, Malta Properties Company plc (2,000 shares) and Trident Estates plc (698 shares) held on to €0.58 and €1.33 respectively. MPC is due to publish its 2018 financial statements on March 20.

A single deal of just 216 shares lifted the equity of Mapfre Middlesea plc to €2.32 (its highest level in over two years). On Wednesday, the company published its preliminary statement of annual results for 2018. Mapfre Middlesea’s financial performance was virtually unchanged as net profits amounted to €8.59 million. The directors are recommending an ordinary net dividend of €0.0978 per share and a special net dividend of €0.08696 per share. Both dividends are payable on May 22 to shareholders as at close of trading on April 30. The company explained that the special dividend emanates from the retained earnings of its 50%-owned subsidiary Mapfre MSV Life plc.

The RF MGS Index moved lower for the third consecutive day as it eased by a further 0.08% to 1,109.593 points. Movements in MGS prices continued to be largely influenced by changes in euro peripheral bond yields amid lingering uncertainties over Brexit as well as concerns over any further progress between the US and China on trade.

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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