The MSE Equity Price Index trended higher for the fourth consecutive day as it added a further 0.96% to a one-month high of 4,760.540 points. Several companies ended the day in positive territory and only Medserv trended lower.

Meanwhile, HSBC and Farsons closed unchanged whilst trading activity remained buoyant as a total of €0.52 million worth of shares changed hands.

The equity of RS2 Software plc jumped by a further 5.8% to the €1.64 level after reaching a new 17-month high of €1.65. A total of 101,068 shares changed hands having a market value of €0.16 million. On Monday, RS2 reported a net profit of €4.25 million for the 2018 financial year compared to €0.79 million in 2017. The directors are recommending a 1-for-8 bonus share to all shareholders as at close of trading on May 15. In their commentary, the directors explained that in 2018, the company continued to expand its business internationally and onboarding new customers. RS2 also unveiled a new business pillar, namely the acquiring of direct merchant. In this respect, the company explained that this new line of business has the potential of generating significant additional revenue streams and also place RS2 at the forefront of the fintech sector. The company is also in the process of establishing its own financial institution license in Germany. On Tuesday, RS2 also announced that it secured a new major contract with Cross River Bank which, in turn, is a US-based leading innovator and provider of banking services for financial technology companies.

Also among the large companies, International Hotel Investments plc added 1.4% to regain the €0.74 level albeit on just 1,000 shares. On Tuesday, IHI reported a near 6% increase in adjusted EBITDA to €61.3 million as most of the group’s operations registered growth. The board of directors will be recommending a net dividend of €0.02 per share at the forthcoming annual general meeting which is scheduled to be held on June 13. The dividend will be paid on July 5 to all shareholders as at close of trading on Wednesday June 26. In their commentary, the directors noted the group’s positive performance in 2018 which, in turn, translated into higher profitability. Looking ahead, the group will continue to pursue new growth opportunities that will complement existing initiatives that are already underway. With respect to the St George’s Bay project, the directors explained that plans have now been finalised and that negotiations on the form and value of the group’s restated land title are ongoing and will require a number of regulatory and Parliamentary processes to be finalised.

GO plc surged 4.7% to the €4.48 level across 11,850 shares. GO is due to hold its AGM on May 28.

Bank of Valletta plc increased by 0.4% to the €1.33 level on activity totalling 18,224 shares. BOV is due to hold its AGM on May 9.

BMIT Technologies plc added 0.9% to recapture the €0.535 level across 76,300 shares. The data centre and cloud services company is due to hold its AGM on May 27.

MaltaPost plc moved to a seven-week high of €1.27 (+1.6%) albeit on just 6,400 shares.

The other positive performing equity on Thursday was Malta Properties Company plc with a gain of 3.3% to the €0.62 level across 93,356 shares. Shareholders as at close of trading on May 9 will be entitled to a net dividend of €0.01 per share.

Medserv plc tumbled 5.7% to the €1.00 level after partially recovering from a new four-year low of €0.96. A total of 125,633 shares traded having a market value of €0.13 million. On Tuesday, the oil and gas services company reported an adjusted EBITDA of €7.3 million for the 2018 financial year compared to €4.3 million in 2017. Looking ahead, the directors explained that the group continues to be well-positioned to register further growth in the future, particularly in Egypt, Cyprus, the Middle East, Africa and Latin America. As a result, the Directors expressed their optimism that Medserv will manage to double its revenues in 2019 and also register a consequent increase in EBITDA.

Meanwhile, HSBC Bank Malta plc maintained the €1.73 level across 23,638 shares.

Simonds Farsons Cisk plc held on to the €9.25 level (the highest since November 2017) on a total of 1,673 shares. On May 15, Farsons is due to publish its results for the financial year ended January 31, 2019.

On Thursday, the Listing Authority announced the suspension of trading of the shares of GlobalCapital plc as well as the 5% GlobalCapital plc 2021 bonds following failure by the company to publish the 2018 Annual Report and Financial Statements within the time-frames as stipulated by the Listing Rules.

Last Tuesday, the company announced that its board meeting for the consideration and approval of the 2018 financial statements has now been adjourned to May 7.

The RF MGS Index posted a three-day positive streak as it added a further 0.03% to 1,113.464 points. Prices of Malta Government Stocks gained as euro sovereign bond yields trended lower after the US Federal Reserve on Wednesday left interest rates unchanged.

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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