Daily Market Highlights (01.03.2019)

  • The MSE Equity Price Index opened the month of March in positive territory as it added 0.17% to a near two-week high of 4,531.203 points. GO, HSBC, Medserv and MaltaPost all trended higher whilst only MIDI and Malita posted declines. A further five shares closed the day unchanged whilst trading volumes eased to €0.24 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index eased by 0.05% to end the week 0.03% lower at 1,104.152 points. Movements in MGS prices reflected broad gains in euro sovereign bonds yields which, in turn, were supported by the issuance of some further positive economic data for the entire single currency block. This included an unemployment rate at its multi-year low as well as a small rebound in manufacturing activity.
  • GO plc extended its recent positive run as the equity advanced by a further 0.4% to a yet another fresh multi-year high of €4.56 on activity of 10,136 shares. The company is due to publish its 2018 full-year financial results on 8 March.
  • Malta International Airport plc closed unchanged at the €6.50 level after briefly recording a new all-time high of €6.60. A total of 8,706 shares changed hands. Shareholders as at close of trading on 11 April will be entitled to a final net dividend of €0.09 per share.
  • HSBC Bank Malta plc recovered 1.3% from its two-year low of €1.60 to €1.62 albeit on trivial activity. Shareholders as at 14 March will be entitled to a net dividend of €0.012 per share.
  • Low trading activity also took place in the equity of Medserv plc which surged by 3.6% to regain the €1.15 level.
  • The other positive performing equity today was MaltaPost plc with a strong gain of 2.4% to the €1.30 level across 20,055 shares.
  • In the property segment, MIDI plc and Malita Investments plc trended significantly lower albeit on shallow volumes. MIDI lost 3.1% to the €0.63 level whilst Malita shed 2.2% back to the €0.90 level. Malita is due to publish its 2018 financial results on 8 March.
  • Meanwhile, International Hotel Investments plc maintained the €0.70 level after opening at its over three-year high of €0.72. A total of 124,576 shares traded. Yesterday, IHI announced that it submitted an application to the Listing Authority of the MFSA requesting the admissibility to listing of €20 million 4% unsecured bonds maturing in 2026. The intended use of proceeds is largely for extending the Group’s international expansion.
  • Bank of Valletta plc, BMIT Technologies plc and Trident Estates plc traded flat at €1.26, €0.53 and €1.36 respectively on light volumes. BMIT is scheduled to publish its 2018 financial results on 7 March and BOV on 15 March.
  • Next week is expected to be another busy week for the local equity market as four companies are scheduled to publish their 2018 annual financial results. Lombard Bank Malta plc will publish their financial statements on Wednesday, followed by BMIT on Thursday, GO and Malita on Friday.