Daily Market Highlights

March 18, 2019
  • The MSE Equity Price Index today surpassed the 4,700 mark for the first time since July 2017 as it maintained an upward trend with a rise of a further 0.94% to 4,735.071 points. Today’s uplift was largely due to the rebound in the share price of BOV as well as positive movements in HSBC, Mapfre Middlesea plc and Malta Properties. On the other hand, IHI and GO released some of their recent strong gains. Similarly, BMIT Technologies plc trended in negative territory whilst Malita Investments closed today’s trading session unchanged. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index eased minimally lower to 1,109.678 points despite a drop in peripheral eurozone yields after the international rating agency Moody’s maintained Italy’s credit rating at Baa3 (the lowest rating within investment grade) with a stable outlook. Furthermore, Standard & Poor’s, another international rating agency, upgraded Portugal’s credit rating by one notch to BBB which in turn led to a further reduction in the country’s 10-year yield to its lowest levels in more than 20 years.
  • Bank of Valletta plc trended higher for the second consecutive day with an increase of a further 5.3% to a fresh 5-month high €1.40 on strong volumes of 194,502 shares. 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.
  • Also in the banking sector, HSBC Bank Malta plc edged 1.2% higher to regain the €1.65 level across four deals totalling 10,832 shares despite trading ex-dividend.
  • Mapfre Middlesea plc advanced by 1.7% to recapture the €2.36 level for the first time in almost 3 years albeit on very shallow volumes of 2,600 shares. Last week, the Directors of Mapfre recommended the payment of an ordinary net dividend of €0.0978 per share and a special net dividend of €0.08696 per share. Both dividends are payable on 22 May to shareholders as at close of trading on 30 April.
  • The only other positive performing equity was Malta Properties Company plc with a 3.5% jump to close at the €0.60 level on volumes of 10,840 shares.
  • On the other hand, GO plc eased by 0.4% to the €4.94 level on low volumes of 4,032 shares. Shareholders as at 24 April will be eligible to a net ordinary dividend of €0.14 per share for the 2018 financial year as well as a special interim dividend of €0.41 per share.
  • Similarly, the share price of International Hotel Investments plc slipped by 0.6% to the €0.775 level across three deals totalling 25,641 shares.
  • BMIT Technologies plc also trended in negative territory today as it eased by almost 1% back to the €0.515 level across five deals totalling 23,000 shares.
  • Meanwhile, Malita Investments plc held on to the €0.885 level on just 8,000 shares.