Daily Market Highlights

Jan 18, 2019

  • Yesterday’s rebound of 0.6% was short-lived as the MSE Equity Price Index eased by 0.44% today to 4,362.212 points. Five equities trended lower whilst only GO performed positively. Following last week’s decline of 1%, the local equity index shed over 2% during the past five days as various equities posted declines including BOV, Farsons, FIMBank, GO, IHI and RS2. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved lower for the first time in seven days as it retreated by 0.15% to 1,099.268 points. Nonetheless, despite today’s decline, the MGS benchmark still ended the week higher for the seventh consecutive week.
  • Despite yesterday’s announcement of upbeat passenger and financial forecasts for 2019, the equity of Malta International Airport plc retracted by 1.7% today back to the €5.90 level across 18,880 shares. During 2018, MIA registered a 13.2% increase in passenger movements to a new record (the ninth consecutive) of 6.81 million movements. Furthermore, for the fifth consecutive year, the growth in the shoulder months outpaced the peak summer months. For 2019, MIA is expecting a further growth in passenger numbers of 5.8% to 7.2 million. This growth includes 18 new route developments including flights to Amman and the launch of daily operations to Doha by newcomer Qatar Airways. MIA also outlined its financial targets for 2019, namely revenues of €96 million, EBITDA of €59 million and net profit of €31 million. The airport operator also reiterated its plans on various multi-million capital investments to its airport campus in the coming months and years, including the expansion of the terminal building, a new apron, the parking village as well as SkyParks II.
  • Also among the large companies, Bank of Valletta plc moved to its multi-year low of €1.28 (-0.8%) across 24,829 shares whilst two deals totalling 22,860 shares forced the equity of FIMBank plc 1.4% lower back to the USD0.70 level.
  • PG plc shed 0.7% to the €1.33 level across 45,155 shares whilst GlobalCapital plc slumped nearly 19% to the €0.27 level albeit on trivial volumes.
  • GO plc climbed 0.5% to regain the €4.08 level on activity of 20,080 shares.
  • Meanwhile, a single deal of just 3,765 shares left the equity of HSBC Bank Malta plc at the €1.76 level.
  • In the property segment, Malita Investments plc and Plaza Centres plc also finished the day unchanged. Malita opened at a low of €0.87 (-2.2%) but recovered to end flat at the €0.89 level across 23,050 shares whilst Plaza traded at the €1.03 level on 11,250 shares.