Daily Market Highlights

Mar 20, 2019

  • The MSE Equity Price Index registered its third consecutive increase with a rise of a further 0.15% to yet another fresh 20-month high of 4,742.218 points. The Index advanced mainly due to the continued recovery in the share price of BOV. A further five equities also trended in positive territory whilst six equities, including HSBC, GO and IHI, drifted lower today. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index edged minimally lower to 1,109.854 points as the benchmark 10-year German Bund yield slipped back to the 0.08% level due to renewed uncertainty on Brexit following the UK’s formal request to extend Brexit until 30 June.
  • Bank of Valletta plc extended its recent positive run as it added on to its 5-month high reached last Monday. The equity touched an intra-day high of €1.48 before easing partially lower to close at the €1.455 level which still represents a 3.9% increase over the previous closing price. A total of 108,261 shares changed hands today. Last Friday, the Bank published its 2018 financial statements revealing a net profit of €51.4 million after accounting for a €75 million litigation provision which had already been disclosed in the 2018 interim report. Excluding the €75 million litigation provision, adjusted operating profits of almost €138 million were 11.3% higher than the annualised figure of €124.4 million for the 2016/17 financial year. The Board of Directors are recommending a bonus share issue of one bonus share for every ten shares held which will be allotted to shareholders as at close of trading on 6 June 2019.
  • In the banking segment, FIMBank plc also edged 1.5% higher to regain the USD0.69 level across 17,818 shares. The trade finance specialist bank is scheduled to publish its 2018 full-year results on Saturday 23 March.
  • Similarly, BMIT Technologies plc edged almost 1% higher to close at the €0.52 level after failing to hold on to an intra-day high of €0.525 across nine deals totalling 63,000 shares.
  • Malta Properties Company plc climbed 1.7% to €0.61 on strong volumes of 119,801 shares. The company today published its 2018 results revealing a significant improvement in profitability to €10.6 million largely due to gains registered on the sale of property and an upward revaluation of other real estate holdings. For the first time, the Directors recommended a final net dividend €0.01 per share to all shareholders as at the close of trading on 9 May 2019.
  • Likewise, Tigné Mall plc and Main Street Complex plc trended higher today albeit on insignificant volumes.
  • On the other hand, HSBC Bank Malta plc, GO plc, Mapfre Middlesea plc and PG plc all trended in negative territory albeit on shallow activity.
  • Similarly, International Hotel Investments plc shed 3.2% back to the €0.75 level across ten deals totalling 285,598 shares.