Daily Market Highlights (04.03.2019)

  • The MSE Equity Price Index added 0.31% to 4,545.413 points, the highest level since early November 2017, on the back of the strong increases in IHI and RS2 which, coupled with the gains in PG and GO, outweighed the declines in BOV and HSBC. Trading volumes surged to €1.12 million, largely reflecting robust activity in GO. Meanwhile, a further five shares closed the day unchanged. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved 0.04% lower to 1,103.658 points as bond yields posted gains amid positive developments related to current trade negotiations between the US and China.
  • GO plc recorded a fresh multi-year high of €4.60 (+0.9%) before partially retreating to the €4.58 level, representing an uplift of 0.4% from last Friday’s closing price of €4.56. A total of 156,530 shares changed hands having a market value of €0.72 million. The company is due to publish its 2018 full-year financial results on Friday 8 March.
  • Also among the large companies, International Hotel Investments plc jumped 4.3% to an over three-year high of €0.73 on activity totalling 20,800 shares. Today, IHI announced that it received regulatory approval for the issuance of €20 million 4% unsecured bonds maturing in 2026. The new bonds are fully fungible with the existing €40 million 4% unsecured bonds 2026 and are intended to finance the company’s international expansion in two new markets – Brussels and Moscow. IHI also noted that a Prospectus dated 4 March 2019 will be available online as from 6 March 2019.
  • RS2 Software plc closed 2.1% higher at the €1.45 level on activity of 21,139 shares.
  • PG plc also trended positively today with a gain of 0.7% to the €1.37 level on heightened activity totalling 134,445 shares having a market value of €0.18 million.
  • In contrast, the two largest banks drifted lower today. Bank of Valletta plc eased by 0.8% to the €1.25 level across 35,935 shares whilst HSBC Bank Malta plc lost 1.2% to its two-year low of €1.60 level albeit on shallow activity. HSBC shareholders as at 14 March will be entitled to a net dividend of €0.012 per share. BOV is expected to publish its 2018 full year results on 15 March.
  • BMIT Technologies plc maintained the €0.53 level after recovering from an intra-day low of €0.515 (-2.8%). A total of 221,015 shares traded. The data centre, cloud and managed IT services company is scheduled to publish its maiden results as a listed public company on Thursday 7 March.
  • Four other shares closed flat today albeit on trivial activity. In the property segment, MIDI plc and Malta Properties Company plc retained the €0.63 and €0.55 levels respectively. MPC is due to publish its 2018 financial statements on 20 March.
  • A single deal of just 5,000 shares left the equity of FIMBank plc at the USD0.70 level.
  • Malta International Airport plc held on to the €6.50 level on insignificant volumes. Shareholders as at close of trading on 11 April will be entitled to a final net dividend of €0.09 per share.