MIA experiences record movements in March

The MSE Equity Price Index snapped a three-day losing streak as it rose by 0.86% to 3,745.233 points as the gains in six equities outweighed the declines in Mapfre Middlesea, PG and the ordinary shares of RS2. Meanwhile, four equities closed unchanged as today’s total activity in local equities was at a four-week-high of €0.80 million. Download today’s Equity Market Summary.

A single trade of 500 shares pushed the share price of Malta International Airport plc 1.7% higher to the €5.85 level. Following the close of trading, MIA announced that passenger movements in March 2024 amounted to 633,826, which is the highest-ever figure achieved in the month of March, exceeding the previous record of March 2023 by 30.1%. MIA also recorded a 24.6% increase in seat capacity when compared to last year. Despite the higher capacity, the seat load factor for March 2024 reached a record figure for the month of March of 87.2%, compared to 83.5% in March 2023. In the first three months of the year, MIA welcomed a total of 1,573,712 passengers, exceeding last year’s record for Q1 2023 by 26.3%.

Bank of Valletta plc was today’s most actively traded equity as it moved 2.2% higher to the €1.41 level across ten deals totalling 241,954 shares. Shareholders as at close of trading on 26 April 2024 will be entitled to a final net dividend of €0.0455 per share.

Also in the banking sector, HSBC Bank Malta plc gained 0.7% to the €1.40 level on a single trade of 2,470 shares.

International Hotel Investments plc climbed by 4.7% to the €0.45 level after failing to hold onto an intra-day high of €0.48 (+11.6%) on three trades totalling 6,250 shares.

Malta Properties Company plc rose by 14.4% to a two-month high of €0.366 over five trades totalling 9,509 shares. Shareholders as at close of trading on 18 April 2024 will be entitled to a final net dividend of €0.013 per share.

Tigné Mall plc advanced by 0.6% to the €0.825 level albeit over trivial volumes.

In contrast, Mapfre Middlesea plc slumped by 3.6% to a one-month low of €1.34 across four deals totalling 6,978 shares.

A single trade of 375 shares pulled the share price of PG plc 1% lower to a four-month low of €1.98.

The ordinary shares of RS2 plc shed 1% to the €1.00 level after partially recovering from an intraday low of €0.95 (-5.9%) across eleven deals amounting to 129,656 shares.

Meanwhile, the preference shares of RS2 plc held the €1.01 level across three trades totalling 5,682 shares.

Malita Investments plc traded flat at the €0.49 level as 10,000 shares changed hands.

GO plc held the €2.96 level on muted activity. Shareholders as at close of trading on 26 April 2024 will be entitled to a final net dividend of €0.05 per share.

GO’s IT services subsidiary BMIT Technologies plc also remained unchanged at the €0.38 level over seven trades totalling 765,000 shares. The Directors of BMIT are recommending the payment of a net dividend of €0.02456 per share, payable to all shareholders as at close of trading on 25 April 2024, who will have the option to receive the dividend either in cash or in new ordinary shares at an attribution price of €0.351 per share.

The RF MGS Index reversed some of yesterday’s losses as it rose by 0.22% to 894.395 points. International bond yields moved lower ahead of US inflation data which will be released tomorrow. Meanwhile, tensions in the Middle East continued to escalate as Israel committed to increasing the scale of the invasion of Gaza, raising concerns of a spike 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