Daily Market Highlights (09.05.2022)

MIA welcomes over 0.5 million passengers in April


The MSE Equity Price Index opened the week sharply lower as it dropped by 2.06% to 3,709.633 points. The decline was mostly driven by the negative performances of BOV and IHI which lost more than 7%. On the other hand, only MIA trended higher whilst another four companies ended the day unchanged. Overall trading activity in equities was subdued as only €0.07 million worth of shares changed hands. Download today’s Equity Market Summary.

Malta International Airport plc added 0.9% to recapture the €5.90 level after opening at a low of €5.70 (-2.6%). A total of 1,020 shares traded. Today, MIA announced that during the month of April it welcomed 513,979 passengers which is 21.3% lower than the level of 653,258 movements recorded in April 2019. Moreover, the seat load factor stood at 77.8% – the highest level since November 2019 and also just 5.6 percentage points lower than April 2019. MIA explained that a number of factors contributed to the stronger momentum in business. These included the launch of the summer flight schedule, the easing of Malta’s entry restrictions, as well as the Easter holidays. In conclusion, MIA noted that April’s traffic results augur well for the upcoming months which are expected to bring the release of more pent-up demand for travel.

Also among the large companies by market value, Bank of Valletta plc (38,100 shares) and International Hotel Investments plc (1,400 shares) plunged by 7.2% to €0.90 and €0.71 respectively.

GO plc retracted by 1.3% to the €3.14 level across 5,673 shares.

Malta Properties Company plc was the worst performing equity today as it plunged by 9% to the €0.505 level albeit on trivial volumes.

Low trading activity also took place in the equities of BMIT Technologies plc and MaltaPost plc which eased by 2.5% and 0.9% to €0.474 and €1.09 respectively.

The other negative performing equity today was Simonds Farsons Cisk plc with a drop of 1.2% back to €8.10 level across 860 shares.

Meanwhile, Grand Harbour Marina plc (€0.62), Lombard Bank Malta plc (€1.85), and M&Z plc (€0.77) closed the day flat on light volumes.

A single deal of 2,000 shares left the share price of HSBC Bank Malta plc at the €0.79 level.

The RF MGS Index continued to drift in negative territory to a fresh multi-year low as sovereign bond yields in the euro area extended their rally with the benchmark 10-year German Bund yield surpassing the 1.10% level amid further expectations of an imminent interest rate hike by the European Central Bank.

Today, Mediterranean Investments Holding plc announced that it has submitted an application requesting admissibility to listing of a maximum of €30 million unsecured bonds redeemable in 2027. The new bonds will have an interest rate of 5.25% and will be guaranteed by Corinthia Palace Hotel Company Limited. The net proceeds from the new bonds will be used for the redemption of part of the €40 million 5% unsecured bonds which are due for repayment on 6 July 2022. MIH will be giving preference to holders of the maturing bonds as at close of trading on 26 May 2022 to subscribe to the new bonds limitedly to their holding in the maturing bonds.


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.