MIA’s share price drops to 8-month low
The MSE Equity Price Index opened the week with a slight gain of 0.15% to 4,679.642 points. BOV and Mapfre Middlesea moved in positive territory whilst MIA, HSBC and PG eased lower. Meanwhile, FIMBank closed the day unchanged as overall trading activity remained weak. Download today’s Equity Market Summary.
Bank of Valletta plc added 0.9% to the €1.065 level on volumes of 29,349 shares. Last week, the bank announced a number of updates to its Board of Directors including the regulatory approval of Mr Rick Hunkin as its new CEO.
BOV’s insurance associate – Mapfre Middlesea plc – surged by 8.3% to the €2.36 level across 2,502 shares.
In contrast, PG plc retreated by 2.2% back to the €1.80 level across 10,800 shares.
HSBC Bank Malta plc lost 1.7% to the €1.18 level on five deals totalling 20,074 shares.
Also among the large caps, Malta International Airport plc dropped by 0.7% to an eight-month low of €6.85 albeit on just 920 shares. MIA is soon expected to publish its December 2019 traffic results. During the eleven-month period to 30 November 2019, the company welcomed more than 6.8 million passengers, representing an increase of 6.9% over the previous comparable period in 2018. MIA had stated in mid-January 2019 that it was expecting passenger movements to increase by 5.8% during the whole of 2019 to 7.2 million.
A single deal of 5,000 shares left the equity of FIMBank plc at the USD0.60 level.
The shares of Harvest Technology plc have today been admitted to the Official List of the Malta Stock Exchange. Trading in the shares is possible as from tomorrow.
The RF MGS Index added to last Friday’s gains as it gained a further 0.23% to an over three-week high of 1,145.932 points. Geo-political developments in the Middle East continued to draw most of investors’ attention as the stand-off between the US and Iran may have multiple repercussions across international financial markets.