Daily Market Highlights

Jan 17, 2019

  • The MSE Equity Price Index erased some of yesterday’s sharp decline as it rebounded by 0.6% to 4,381.425 points. The increase was largely driven by the gains in MIA and GO. On the other hand, RS2 and MIDI trended lower whilst a further five equities closed the day unchanged. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index posted its sixth consecutive daily uplift as it added a further 0.07% to a fresh near six-month high of 1,100.925 points. Bond yields in the euro area drifted lower today despite comments made by an influential ECB Executive Board member who was reported as saying that the ECB is still on course to raise interest rates this year.
  • Malta International Airport plc surged 4.3% to regain the €6.00 level across 5,100 shares. Today, the airport operator issued the 2018 traffic results as well as the passenger and financial forecasts for 2019. During 2018, MIA registered a 13.2% increase in passenger movements to a new record (the ninth consecutive) of 6.81 million movements. Furthermore, for the fifth consecutive year, the growth in the shoulder months outpaced the peak summer months. For 2019, MIA is expecting a further growth in passenger numbers of 5.8% to 7.2 million. This growth includes 18 new route developments including flights to Amman and the launch of daily operations to Doha by newcomer Qatar Airways. MIA also outlined its financial targets for 2019, namely revenues of €96 million, EBITDA of €59 million and net profit of €31 million. The airport operator also reiterated its plans on various multi-million capital investments to its airport campus in the coming months and years, including the expansion of the terminal building, a new apron, the parking village as well as SkyParks II.
  • Also among the large companies, GO plc added 2% to the €4.06 level on 6,829 shares. 
  • In the property segment, Malita Investments plc rose 3.5% to recapture the €0.89 level across 13,455 shares whilst two deals totalling 8,600 shares lifted the equity of Plaza Centres plc 1% higher to the €1.03 level.
  • In contrast, MIDI plc eased by 1.5% to the €0.66 level across 27,450 shares.
  • RS2 Software plc also performed negatively today with a drop of 0.7% to the €1.39 level albeit on just 7,200 shares.
  • International Hotel Investments plc maintained the €0.59 level on low trading activity.
  • Medserv plc (16,050 shares) and FIMBank plc (40,000 shares) also traded flat at €1.06 and USD0.71 respectively. On Tuesday, Medserv announced that it has been awarded a contract extension by Eni North Africa to continue providing logistic marine services from the Medserv base situated at the Malta freeport. The contract has been extended for a further two years and came into effect on the 1 January 2019.
  • Bank of Valletta plc opened at a high of €1.31 but still finished the day at the €1.29 level, representing no change from the previous closing price. A total of 18,310 shares traded.
  • Grand Harbour Marina plc maintained its all-time low of €0.60 on a total of 45,000 shares.