Daily Market Highlights (09.12.2021)

MSE Equity Price Index retreats to a fresh 1-year low


The MSE Equity Price Index dropped by 0.64% to a fresh 1-year low of 3,736.336 points as the declines in MIA, BOV, GO, BMIT and MPC outweighed the gains in IHI and Farsons. Overall trading activity remained weak as a total of €0.09 million worth of shares changed hands. Download today’s Equity Market Summary.

Malta International Airport plc eased by 0.9% to a fresh 1-year low of €5.65 on activity totalling 6,580 shares representing just over 40% of the total value of equities traded. Today, MIA announced that it welcomed almost 316,000 passengers during the month of November. This represents a drop of 26.3% from the previous month and is 35.9% lower than the amount of 493,201 movements recorded in November 2019 (the lowest percentage decline since the outbreak of the COVID-19 pandemic). MIA also added that the seat load factor stood at 69.3% which is in line with the performance recorded in September and October 2021. Commenting on this traffic update, MIA CEO Mr Alan Borg said that: “November’s traffic performance was in line with our expectations, however, the success of the holiday season depends on how Europe responds to the evolving epidemiological situation and the emergence of new variants. The introduction of tighter and fragmented restrictions would deal a new blow to consumer confidence, which would not only impact air travel in December, but also have more far-reaching effects into 2022.”

Also among the large companies by market value, Bank of Valletta plc moved 2.3% lower back to the €0.85 level on seven deals totalling 29,881 shares. BOV’s Board of Directors is scheduled to meet today to consider the payment of an interim dividend.

GO plc lost 2.4% to the €3.26 level on two deals totalling 2,552 shares.

GO’s data centre and IT managed services subsidiary – BMIT Technologies plc – declined by 3.2% to the €0.48 level across four deals totalling 21,600 shares.

Malta Properties Company plc was the worst performing equity today as it fell by 4.5% to the €0.525 level on 7,410 shares.

Meanwhile, International Hotel Investments plc added 0.9% to the €0.57 level across 10,000 shares. The new €80 million 3.65% unsecured bonds 2031 are expected to be admitted to listing on 16 December whilst trading is expected to commence on 17 December.

Simonds Farsons Cisk plc moved 0.6% higher to the €8.45 level albeit on trivial volumes. Today, Farsons declared that a net interim dividend of €0.05 per share to shareholders as at the close of trading on Friday 10 December. The dividend is payable on 21 December. In its announcement, Farsons noted that it is currently working to address a number of new challenges that are emerging, including inflationary pressures and product shortages which are mainly the result of supply chain disruptions and a surge in shipping costs.

The RF MGS Index extended its recent downward trend as it eased by a further 0.11% to 1,090.333 points. Movements across sovereign bond yields continued to be volatile reflecting the prevailing uncertainties related to the pandemic. Meanwhile in the US, new jobless claims fell to a fresh multi-year low amid strong underlying dynamics of the recovery.


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.