Daily Market Highlights (08.04.2021)

FIMBank plc share price down 19%


The MSE Equity Price Index lost 0.93% to 3,787.303 points as the declines in GO, FIMBank and MIA outweighed the gains in Harvest, HSBC and Farsons. Meanwhile, BOV, IHI, MPC and Plaza all closed flat as overall trading activity amounted to €0.15 million. Download today’s Equity Market Summary.

GO plc retraced by 1.6% to the €3.60 level as 14,675 shares changed hands. The net dividend of €0.16 per share is payable on 31 May 2021 to all shareholders as at the close of trading on 23 April 2021 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held remotely on 27 May 2021.

FIMBank plc plunged by just under 19% to the USD0.30 level (a 4-month low) as 64,240 shares changed hands. Today, FIMBank published its annual financial results for the year ended 31 December 2020 whereby it reported a loss after tax of USD47 million due to significant reductions in income, higher expenses and impairments of almost USD36 million.

Meanwhile, Malta International Airport plc eased by 0.8% to the €6.10 level across 2,100 shares. Today, MIA published its March 2021 traffic results showing a total of 32,033 passenger movements which represents a drop of 93% when compared to the same month in 2019. The airport operator noted that the rapid vaccination roll-out among the local population together with government’s recently announced plan for the restart of tourism on 1 June 2021 bode well for the second half of the year. However, the successful revival of air travel is also highly dependent on the restoration of consumer confidence in the industry in the build-up to summer.

Also among the large equities by market cap, HSBC Bank Malta plc added 0.6% to the €0.79 level as 3,500 shares changed hands. In the same sector, Bank of Valletta plc recovered from an intraday low of €0.87 (-3.3%) to close unchanged at the €0.90 level across 16,350 shares.

Harvest Technology plc rose by 0.7% to the €1.46 level across a single trade of 3,500 shares. The net dividend payment of €0.02 per share is due by 9 April 2021.

Elsewhere, Simonds Farsons Cisk plc edged 1.3% higher as it regained the €8.10 level across 250 shares.

In the property segment, Plaza Centres plc retained the €0.88 level across 2,000 shares whilst Malta Properties Company plc traded unchanged at the €0.54 level as 3,279 shares changed hands. The Board of Directors of MPC is recommending the payment of a net dividend of €0.012 per share. Shareholders as at close of trading on 14 June 2021 will be entitled to receive this dividend on 21 July 2021 subject to shareholders’ approval during the upcoming Annual General Meeting scheduled to be held remotely on 15 July 2021.

Similarly, a single trade of 789 shares kept International Hotel Investments plc rooted to the €0.56 level.

Yesterday, Medserv plc announced that it was awarded a new contract with one of its existing major clients which is an international energy company operating offshore North Africa. This contract is for a period of one year with an option to extend for a further three-year period under the same terms and conditions. Medserv will provide fully integrated logistics shore base services from its Freeport base in Malta and is expected to manage a considerable volume of OCTG and related equipment. Additionally, a range of vessels will call at the Malta shore base for the completion of this four-year major project.

The RF MGS Index headed lower for the first time in four sessions as it eased by 0.10% to 1,117.063 points. Yesterday, the EU’s drug regulator said that blood clots should be listed as a “very rare” side effect of the AstraZeneca coronavirus vaccine but that the jab’s benefits continue to outweigh the risks.