Daily Market Highlights (25.07.2018)

  • The MSE Equity Price Index shed 0.18% to 4,393.890 points, mostly driven by declines in the share prices of BOV and IHI which outweighed the gains in three other equities. Trading volumes were very weak as only €0.04 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • Following the notable declines in the previous two days, the RF MGS Index rebounded by 0.13% to 1,101.520 points today as euro zone sovereign yields drifted lower possibly reflecting a worse-than-expected drop in the reading of an index gauging business expectations in Germany.
  • Today’s highlight was the publication of the interim financial results as at 30 June 2018 by Malta International Airport plc. The airport operator registered an increase of 14.6% in EBITDA to nearly €24 million, reflecting robust growth in the number of passenger movements whilst the increase in costs remained broadly under control. Overall, MIA’s net profit for the first six months of the current financial year marginally exceeded the €13 million mark. The company also paid-off all of its bank borrowings amounting to €33 million. The Directors approved an unchanged net interim dividend of €0.03 per share. This is payable by 14 September 2018 to all shareholders as at close of trading on 20 August 2018. The equity remained inactive today following the volumes of 50,000 shares that traded yesterday at the €5.05 level.
  • HSBC Bank Malta plc recovered by 1.1% to regain the €1.85 level across 5,988 shares. The bank is set to publish its interim results on 6 August.
  • A single deal of just 1,000 shares lifted the equity of RS2 Software plc 0.8% higher to the €1.21 level.
  • Simonds Farsons Cisk plc moved to a fresh five-month high of €7.45 (+2.1%) on two deals totalling 1,342 shares.
  • In contrast, Bank of Valletta plc lost 1.4% to the €1.725 level across 7,998 shares. BOV is scheduled to publish its interim financial results on Tuesday 31 July.
  • International Hotel Investments plc eased by 0.8% back to the €0.63 level after opening at a high of €0.65 (+2.4%). A total of 6,000 shares traded.
  • Low trading activity also took place in the equities of Trident Estates plc, Mapfre Middlesea plc and GlobalCapital plc. Trident shed 2.2% to the €1.32 level and Mapfre Middlesea shed 2% to the €1.96 level. Last Friday, Mapfre Middlesea reported a 16% increase in net profits to €3.77 million for the first six months of the current financial year. The company experienced growth in both life and general insurance businesses.
  • Meanwhile, GlobalCapital plc traded flat at the €0.30 level on trivial volumes.
  • The MSE today announced the listing of the €40 million 3.85% Hili Finance Company plc 2028 bonds. Trading is expected to commence tomorrow.