Daily Market Highlights (05.03.2019)

  • The MSE Equity Price Index added a further 0.2% to its highest level in several months of 4,554.496 points. Six equities posted gains, including GO, IHI, BOV and HSBC. On the other hand, another six shares trended lower whilst FIMBank, PG and Plaza closed the day unchanged. In aggregate, €0.5 million worth of shares changed hands today, with trading in MPC representing almost 25% of the total value of equities traded. Download a copy of today’s Equity Market Summary.
  • Following the small declines registered in the previous two days, the RF MGS Index surged by 0.25% to a ten-month high of 1,106.389 points amid a marked and unexpected turnaround in economic data across the single currency area.
  • GO plc reached a fresh multi-year high of €4.66 (+1.7%) on activity totalling 19,496 shares. 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 added a further 0.7% to €0.735 (the highest level in over three years) across 12,120 shares. Yesterday, 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 tomorrow.
  • The two largest banks also moved higher today. HSBC Bank Malta plc rebounded by 1.3% to regain the €1.62 level across 29,584 shares whilst Bank of Valletta plc advanced by 0.8% to €1.26 on volumes of 28,656 shares. 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.
  • Malta Properties Company plc surged by 3.6% to the €0.57 level on heightened activity totalling 219,451 shares. MPC is due to publish its 2018 financial results on 20 March.
  • Within the same segment, MIDI plc recaptured the €0.65 level (+3.2%) albeit on shallow volumes.
  • In contrast, Malita Investments plc and Tigné Mall plc trended lower on light volumes. Malita eased by 0.6% to €0.895 whilst Tigné Mall lost 1.1% to the €0.92 level on just 7,600 shares. Malita is due to publish its 2018 full year results on Friday 8 March.
  • Low trading activity also took place in the equities of Malta International Airport plc and Lombard Bank Malta plc. MIA retracted by 0.8% to the €6.45 level whilst Lombard tumbled by 7.4% to the €2.26 level on trivial volumes totalling 500 shares. Tomorrow, Lombard is scheduled to publish its preliminary profit statement for the 2018 financial year.
  • The two technology-related equities of RS2 Software plc and BMIT Technologies plc also ended the day in negative territory. RS2 shed 2.1% to the €1.42 level across 13,793 shares whilst BMIT fell 2.8% to €0.515 on activity totalling 119,100 shares. BMIT is scheduled to publish its maiden results as a listed public company on Thursday 7 March.
  • Meanwhile, three deals totalling 54,352 shares left the equity of FIMBank plc at the USD0.70 level.
  • PG plc (25,000 shares) and Plaza Centres plc (14,555 shares) traded unchanged at €1.37 and €1.02 respectively.