Daily Market Reports

May 27, 2022

MIA share price recaptures the €6.00 level

 

The MSE Equity Price Index added 0.03% to 3,706.345 points as the gains in MIA, BOV and HSBC marginally outweighed the declines in GO and VBL. Meanwhile, a single deal of 4,385 shares left the share price of Malta Properties Company plc at the €0.52 level. Trading activity in equities improved to €0.11 million compared to €0.04 million yesterday. Download today’s Equity Market Summary.

Malta International Airport plc advanced by 0.8% to recapture the €6.00 level across 10,643 shares.

Also among the large companies by market value, Bank of Valletta plc rebounded by 1.1% to the €0.89 level after recovering from a low of €0.855 (-2.8%). A total of 24,373 shares changed hands.

HSBC Bank Malta plc trended 1.3% higher to the €0.79 level across 2,200 shares.

In contrast, GO plc drifted 1.9% lower back to the €3.12 level across 7,000 shares. Yesterday, GO published an updated Financial Analysis Summary which includes the 2022 forecasts for the Group’s telecoms operations in Malta. Revenues are expected to increase by 4.9% to €123.5 million largely reflecting stronger level of hardware sales, while EBITDA is anticipated to grow by 0.8% to €48.2 million. Overall, the local telecoms arm of GO is expected to register a net profit of €12.2 million compared to €13.6 million in 2021.

The other negative performing equity today was VBL plc as it plunged 9.4% to the €0.25 level albeit on just 10,000 shares.

Today, Trident Estates plc published its results for the 2021/22 financial year. The company reported a marked decline in profitability largely reflecting the non-recurrence of any positive fair value adjustments on investment property which, in 2021, amounted to €0.56 million. In relation to Trident Park, the Directors explained that they are expecting occupancy levels to increase further in the coming months from the current level of over 50%. Meanwhile, Trident also noted that it is looking at the options available for Trident House as this property will be vacated by January 2025.

The RF MGS Index erased most of yesterday uplift as it retracted by 0.45% to 987.645 points. Today, the Central Bank of Malta published an update on the performance of the local economy. The central bank noted that business conditions remained strong in April.
Moreover, although general sentiment abated somehow, it remained above its long-term average. Meanwhile, inflation increased to 5.4% in April compared to 4.5% in the previous month.

 

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data.  Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.