MIA share price plunges nearly 8%

The MSE Equity Price Index opened the week in negative territory as it slid by a further 0.72% to a twenty-week low of 3,752.568 points. The drop was driven by the sharp fall in the share price of MIA which coupled with the declines in BMIT, PG and Harvest outweighed the gains in five other companies. Meanwhile, RS2 and Farsons closed the day unchanged as trading activity remained muted with €0.14 million worth of shares changing hands.

Malta International Airport plc lost 7.7% to a three-month low of €4.80 across 13,396 shares.

Two deals totalling 2,000 shares forced the equity of PG plc to move 2.1% lower to the €1.90 level. The company is soon expected to publish its full-year results for the financial year ended 30 April 2020.

BMIT Technologies plc moved back to the €0.47 level (-3.3%) across 21,300 shares. Last Friday, BMIT published its interim financial results showing an increase of nearly 5% in revenues to €11.7 million whilst net profits surged by 8.3% to €2.54 million. The company explained that despite the various challenges brought about by COVID-19, it remains active in pursuing new initiatives aimed at delivering additional value and sustainable returns to its...