Daily Market Highlights (11.03.2019)

  • The MSE Equity Price Index trended higher for the tenth consecutive trading session as it surged by 1.67% to 4,671.017 points (the highest since October 2017). Several equities ended the day in positive territory, including IHI (+5.4%), Farsons (+2.9%), GO (+2.1%) and BOV (+1.6%). On the other hand, BMIT, MIA and Tigné Mall closed unchanged. Most of today’s trading activity took place in GO and MIA as volumes in these two shares represented 53% of the total value of equities traded. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved higher for the fifth consecutive day as it added a further 0.07% to a new ten-month high of 1,113.150 points. Movements across euro bond yields remained volatile following last Thursday’s announcement by the ECB on its intention to keep interest rates unchanged this year as well as make available fresh ultra-cheap loans to European commercial banks to prop up the single currency economy.
  • Following last Friday’s announcement related to the 2018 financial results that also included the declaration of a special interim dividend of €0.41 per share, the equity of GO plc closed up 2.1% at yet another multi-year high of €4.96 on activity totalling 22,576 shares. Shareholders as at 24 April will be eligible to a net dividend per share of €0.14 for the 2018 financial year as well as the special interim dividend.
  • Also among the large companies, International Hotel Investments plc soared by 5.4% to an over three-year high of €0.78 albeit on just 15,060 shares.
  • Bank of Valletta plc regained the €1.28 level (+1.6%) on activity of 5,908 shares. The bank is due to publish its 2018 full year results on Friday 15 March.
  • BOV’s insurance associate – Mapfre Middlesea plc – surged 10% to a two-year high of €2.20 across 16,662 shares. The insurance specialist is due to publish its 2018 full-year results on Wednesday 13 March.
  • Simonds Farsons Cisk plc added 2.9% to the €8.75 level on trivial volumes whilst five deals totalling 31,500 shares lifted the equity of Medserv plc 1.7% higher to the €1.17 level.
  • In the property segment, MIDI plc recaptured the €0.64 level (+1.6%) across 35,000 shares. Last week, MIDI announced that the Board of the Planning Authority approved the revised Masterplan for the development of Manoel Island. The company also reiterated its commitment to the project and expressed its readiness to move on to the next phase, including obtaining full development applications in order to commence the works during the second half of 2019.
  • Malta Properties Company plc moved to its highest level since mid-December 2016 of €0.60 (+3.4%) on activity totalling 24,530 shares. The company is due to publish its 2018 financial statements on 20 March.
  • In contrast, Tigné Mall plc maintained the €0.92 level across 8,900 shares.
  • Malta International Airport plc also closed unchanged at the €6.60 level after briefly recording a new all-time high of €6.65 (+0.8%) on a total of 10,833 shares.
  • Six deals totalling 54,600 shares left the equity of BMIT Technologies plc at the €0.52 level.
  • Last Friday, Malita Investments plc reported a net profit of €11.7 million for the 2018 financial year. The Directors are recommending the payment of a final net dividend of €0.01417 per share to all shareholders as at the close of trading on 3 April. The equity remained inactive today.