Daily Market Highlights (05.04.2019)

  • The MSE Equity Price Index eased by 0.1% to 4,714.243 points as the declines in the share prices of MIA and RS2 outweighed the gains in four other shares. During the first week of Q2 2019, the local equity index added 0.11% largely reflecting the rebound in HSBC. Download a copy of today’s Equity Market Summary.
  • Following the declines registered in the previous five days, the RF MGS Index rebounded by 0.08% to 1,111.944 points. Euro bond yields trended lower as yesterday’s publication of the minutes of the ECB’s most recent monetary policy meeting highlighted the central bank’s concerns on how prevailing geopolitical uncertainties are continuing to weigh down on the growth outlook of the single currency area. The minutes showed how incoming economic data in the euro area continued to be weak which, in turn, necessitated an adjustment towards a more accommodative forward guidance coupled with the introduction of new measures aimed at supporting favourable bank lending conditions.
  • Malta International Airport plc dropped by 2.2% from its all-time high of €6.70 to the €6.55 level on activity totalling 7,600 shares. Today, MIA announced that during the winter months stretching from November 2018 to March 2019 it welcomed more than two million passengers, representing a growth of 5.9% over the previous corresponding period. MIA also noted that the modest growth of just 1.3% in passenger movements in March 2019 was largely due to the celebration of Easter in March 2018 as opposed to April in 2019. The airport operator also added that it now looks forward to the new summer schedule which features several new destinations as well as the start of operations of a new airline and an upgrade Cruise & Fly Programme.
  • Also among the large companies, RS2 Software plc eased by 0.7% back to the €1.41 level across 43,400 shares.
  • BMIT Technologies plc advanced by 0.9% to the €0.535 level on activity totalling 97,500 shares.
  • The equities of three property-related companies trended in positive territory today. Main Street Complex plc advanced by 1.6% to the €0.65 level across 23,000 shares. The company is due to publish its 2018 annual financial results on Monday 8 April. The Directors will also consider recommending a final dividend.
  • MIDI plc and Malita Investments plc both recorded strong uplifts today. MIDI regained the €0.63 level (+5%) on volumes of 69,200 shares whilst Malita climbed 5.6% to the €0.85 level across 27,050 shares. MIDI is due to publish its results for the 2018 financial year on 25 April.
  • Meanwhile, Bank of Valletta plc (23,721 shares) and HSBC Bank Malta plc (2,000 shares) ended the day unchanged at €1.38 and €1.63 respectively. HSBC will be holding its Annual General Meeting on 17 April.
  • International Hotel Investments plc traded flat at the €0.765 level on a total of 55,000 shares. On Wednesday, IHI announced that its wholly-owned subsidiary Corinthia Hotels Limited concluded a strategic investment in Global Hotel Alliance (“GHA”) which, in turn, is the world’s largest alliance of independent hotel brands.
  • A single deal of 10,000 shares left the equity of Mapfre Middlesea plc at the €2.36 level.
  • Today, Plaza Centres plc announced that its Board of Directors is scheduled to meet on Friday 12 April to consider and approve the financial statements for the year ended 31 December 2018.