Daily Market Highlights (04.02.2020)

MSE Equity Price Index climbs to 1-month high


The MSE Equity Price Index added 0.65% to a one-month high of 4,680.084 points as five companies trended higher whilst another three shares closed the day unchanged. However, trading activity was muted as only €0.07 million worth of shares changed hands. Download today’s Equity Market Summary.

Malta International Airport plc recaptured the €6.95 level (+1.5%) across 2,043 shares. Last week, the airport operator announced that it is expecting an increase of between 2% and 3% in passenger movements in 2020 to a new record of 7.5 million passengers (compared to 7.31 million in 2019). Furthermore, MIA also unveiled its long-term vision for the airport, revealing details of an investment of circa €100 million in a terminal expansion.

Also among the large companies by market capitalisation, both HSBC Bank Malta plc (27,000 shares) and International Hotel Investments plc (6,267 shares) advanced by 1.9% to €1.07 and €0.815 respectively. HSBC is due to publish its 2019 full-year financial results on 18 February. The Directors will also consider recommending a final dividend for approval at the AGM scheduled to be held on 8 April.

A single deal of just 423 shares lifted the equity of Mapfre Middlesea plc 1.7% higher to the €2.36 level.

Low trading activity also took place in MIDI plc which added 2.1% to the €0.48 level across 2,083 shares.

Within the same segment, Tigné Mall plc stayed at the €0.90 level on two deals totalling 5,111 shares.

Similarly, Bank of Valletta plc (16,900 shares) and BMIT Technologies plc (2,083 shares) traded flat at €1.07 and €0.52 respectively.

Today, FIMBank plc announced that its Board of Directors is scheduled to meet on 10 March to consider and approve the financial statements for the year ended 31 December 2019. The Board will also consider the declaration of a dividend.

The RF MGS Index shed 0.18% (the sharpest daily drop in three weeks) to 1,152.799 points as international bond yields rallied following statements made by the central bank of China to provide significant amounts of stimulus as support against the negative economic impact of coronavirus.

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