Daily Market Highlights

October 7, 2019

Broad activity across equities

 

The MSE Equity Price Index opened the week on a positive note as it added 0.22% to 4,872.831 points. Activity was spread across several equities, seven of which trended higher, six moved lower whilst a further four shares closed unchanged. Furthermore, the value of equities traded improved to €0.56 million compared to €0.42 million last Friday. Download today’s Equity Market Summary.

Simonds Farsons Cisk plc climbed to a new record high of €11.50 (+3.6%) across 6,117 shares.

HSBC Bank Malta plc added 0.7% to regain the €1.41 level after recovering from a fresh multi-year low of €1.36 (-2.9%). A total of 6,929 shares changed hands.

Also in the banking sector, three deals totalling 60,000 shares lifted the equity of FIMBank plc 1.6% higher back to the USD0.63 level.

Lombard Bank Malta plc advanced by 0.9% to the €2.28 level on heightened activity totalling 55,798 shares having a market value of €0.13 million.

Conversely, International Hotel Investments plc and Mapfre Middlesea plc added 0.6% and 1.9% to €0.785 and €2.20 respectively on light trading volumes.

In the property segment, MIDI plc surged by 3.8% to recapture the €0.69 level across 101,750 shares.

On the other hand, Malita Investments plc (60,260 shares) and Plaza Centres plc (10,400 shares) closed flat at €0.895 and €1.02 respectively.

Malta International Airport plc traded unchanged at the €7.50 level across 4,859 shares. Today, MIA announced its September traffic results revealing a 7.8% increase in passenger movements to a new record of 762,36 passengers. Furthermore, despite the substantial increase in seat capacity, the seat load factor improved marginally to 86.2%. During the first nine months of 2019, a total of 5.6 million passenger movements were registered, representing an increase of 6.5% over the previous corresponding period last year. MIA had stated on 17 January 2019 that it is expecting passenger movements to increase by 5.8% to 7.2 million in 2019.

RS2 Software plc retained the €1.92 level across 33,403 shares.

Meanwhile, both Bank of Valletta plc and GO plc ended lower on shallow volumes. BOV eased by 0.4% to the €1.155 level whilst GO shed 2.7% to an over four-month low of €4.28.

Tigné Mall plc also lost 2.7% to the €0.915 level across 21,500 shares.

Three deals totalling 11,666 shares forced the equity of Malta Properties Company plc to retreat by 2.9% back to the €0.665 level.

BMIT Technologies plc retracted by 2.8% to the €0.515 level on 13,801 shares whilst Grand Harbour Marina plc plunged 7.6% to €0.61 on trivial volumes.

Today, Trident Estates plc announced that it received regulatory approval for the issuance of new shares in connection with a €15 million rights issue. Shareholders as at the close of trading last Wednesday 2 October will be eligible to acquire two new shares for every five shares held (2-for-5) at the rights issue price of €1.25 per share. The Rights Issue Prospectus will be made available as from Wednesday 9 October.

Following the gains in the previous three days, the RF MGS Index eased by 0.06% to 1,178.865 points as movements in the prices of MGS were mainly driven by the changes in Italian government bond yields which trended higher. On the other hand, most eurozone sovereign bond yields moved lower today amid renewed trade concerns.