Daily Market Highlights (26.07.2018)

  • The MSE Equity Price Index advanced by 0.07% today to 4,396.866 points as the gains in four equities outweighed the drops in BOV and Medserv. Trading volumes continued to remain weak as only €0.13 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index shed 0.15% to a four-week low of 1,099.883 points as euro zone sovereign yields surged amid positive developments in the trade disputes between the US and the single currency block. Meanwhile, during the monetary policy meeting held today, the European Central Bank left interest rates unchanged and added that the euro economy still need a “significant” amount of monetary stimulus.
  • Following yesterday’s publication of the interim financial results, Malta International Airport plc today released an updated set of financial targets as well as traffic projections for 2018. The company is now expecting passenger movements to grow by 13% to reach yet another record of 6.77 million passenger movements. This is higher than MIA’s initial forecast of 6.5 million passenger movements which represented a growth of between 7% and 9%. This should translate into increased profitability for the airport operator, with EBITDA now anticipated to exceed €53 million (+9.1% over 2017) and net profits of €29 million representing a 20% increase over last year. Yesterday, MIA reported a 14.6% increase in EBITDA to nearly €24 million for the first half of 2018 and a net profit of €13 million. The equity remained unchanged at the €5.05 level today albeit on a single deal of just 1,929 shares. Shareholders as at close of trading on 20 August 2018 are entitled to receive a net interim dividend of €0.03 per share.
  • RS2 Software plc and Lombard Bank Malta plc retained the €1.21 and €2.30 levels respectively on negligible volumes. Lombard is due to publish its interim financial statements on 23 August.
  • Two deals totalling 8,000 shares left the equity of Trident Estates plc at the €1.32 level.
  • Within the same segment, Malita Investments plc added 1.7% to the €0.885 level across 20,000 shares. Malita is due to unveil its six-month financial performance on 10 August.
  • Simonds Farsons Cisk plc climbed 0.7% to a near six-month high of €7.50 on volumes of 5,326 shares.
  • PG plc and HSBC Bank Malta plc also performed positively today albeit on light volumes. PG moved to a near four-month high of €1.34 (+0.8%) whilst HSBC advanced by 0.5% to regain the €1.86 level. The bank is set to publish its interim results on 6 August.
  • In contrast, Bank of Valletta plc lost 0.3% to the €1.72 level across 20,547 shares. BOV is scheduled to publish its interim financial results on Tuesday 31 July.
  • A single deal of 2,100 shares forced the equity of Medserv plc to ease 1.7% lower to the €1.13 level. The company still has to announce the date of the publication of its interim financial statements.