MIA dominates trading activity

The MSE Equity Price Index snapped a four-day winning streak as it fell by 0.35% to 3,765.516 points as the declines in BOV, GO, Hili Properties, and Malita outweighed the gain in MIA. Meanwhile, two equities closed unchanged as today’s trading activity in local equities was subdued at €0.13 million. Download today’s Equity Market Summary.

Most of today’s trading activity took place across the shares of Malta International Airport plc which advanced by 1.8% to a one-month high of €5.75 across sixteen deals totalling 17,350 shares. On Monday, MIA states that passenger movements reached a new record for January and amounted to 465,482 passenger movements, which is 11.3% higher than the previous record registered in January 2020, prior to the pandemic. Passenger movements in January 2024 were also 22.7% higher than the movements registered in the same month last year. Meanwhile, the seat load factor for January 2024 stood at 74% compared to almost 77% in January 2023 and 71% in January 2020. However, the airport operator noted that seat capacity increased by 27.4% compared to the same month last year.

Malita Investments plc slumped by 5.2% to the €0.55 level on a single trade of 5,000 shares.

Also in the property sector, Hili Properties plc dropped by 4.7% to a one-month low of €0.181 on two deals totalling 10,000 shares.

GO plc moved 1.3% lower to the €3.08 level as 1,975 shares changed hands.

Also among large companies by market value, Bank of Valletta plc shed 1.5% to a one-week low of €1.30 across eight trades totalling 13,473 shares.

Meanwhile, APS Bank plc traded flat at the €0.545 level on four deals amounting to 6,406 shares.

HSBC Bank Malta plc held the €1.29 level on a single trade of 2,500 shares.

The RF MGS Index increased for the third consecutive session as it gained 0.16% to 888.691 points. Data released today showed that GDP in the eurozone remained flat during the last quarter of the year, in line with expectations. Consequently, the economy narrowly escaped a technical recession. Meanwhile, the labour market continued to show signs of resilience as the year-over-year increase in employment during December was larger than forecasts. Today, ECB vice-president Luis de Guindos stated that more information on wage pressures was needed before the ECB changes its key interest rates. Elsewhere, in the UK inflation during January remained unchanged at 4.0% contrary to forecasts of a slight increase, as a decrease in the inflation of food prices offset the reduced slowdown in energy prices.

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.