Daily Market Highlights (13.04.2023)

MIA announces record Q1 passenger movements


The MSE Equity Price Index advanced by 0.20% to 3,536.114 points as the gains in AX Real Estate, BOV and PG outweighed the declines in M&Z and Farsons. Meanwhile, MIA, APS and Loqus remained unchanged as total trading activity amounted to €0.08 million. Download today’s Equity Market Summary.

Malta International Airport plc traded flat at the €5.60 level across two deals totalling 1,355 shares. Yesterday evening, Malta International Airport plc announced that it recorded 487,117 passengers movements in March 2023, which is the highest ever figure for the month of March, exceeding the previous record of March 2019 by 2%.In aggregate, MIA welcomed 1,245,565 passengers in the first three months of this year, making it the busiest ever first quarter for the airport, exceeding the 1,202,983 passenger movements recorded during the same period in 2019. Meanwhile, the seat load factor for March 2023 stood at 83.5%, compared to 68.4% in March 2022 and 81.3% in March 2019.

APS Bank plc closed unchanged at the €0.61 level after failing to hold to an intraday high of €0.615 (+0.8%) across three deals totalling 3,060 shares. APS will be issuing its Q1 2023 figures on 27 April 2023.

Loqus Holdings plc held the €0.218 level on trivial volumes.

Bank of Valletta plc moved 1.1% higher to the €0.91 level across three trades totalling 21,956 shares.

PG plc was today’s best performing equity as it rebounded from a 2-year low to regain the €1.99 level (+2.1%) as 10,000 shares changed hands.

Today’s most actively traded equity – AX Real Estate plc – climbed 1.7% to the €0.49 level on a single deal of 41,000 shares.

Simonds Farsons Cisk plc lost 0.7% to the €6.85 level on one trade of 840 shares.

A single trade of 5,074 shares pulled the share price of M&Z plc down by 4.7% to an all-time low of €0.61.

Today, Harvest Technology plc published their annual report for the year ended 31 December 2022. Harvest Technology’s revenue rose to €16.3 million in 2022 compared to €15.7 million in 2021. However, operating profit dropped to €2.1 million compared to €4.0 million in the previous year reflecting the higher cost of sales as well as higher administrative expenses. As a result, Harvest’s pre-tax profits of €2.1 million were also €0.9 million lower than projected figure published in June 2022. The Board of Directors resolved to distribute a final net dividend of €0.005 per share to shareholders as at close of trading on 20 April 2023, payable on 5 May 2023. When including the interim dividends paid during the financial year, the total dividend for FY2022 amounts to €0.035 per share, which is 42% lower than the previous year.

VBL plc announced that its Board of Directors is scheduled to meet on Friday 21 April 2023 to consider and approve the financial statements for the year ended 31 December 2022. The Board will also consider the recommendation of a dividend.

The RF MGS Index shed 0.21% to 878.762 points. Today, financial media noted how the ECB is still undecided on whether a 25 basis-points rate hike will be agreed on in May. The decision will take into account the inflationary data and other economic factors for April 2023. Bundesbank president Joachim Nagel stated that despite the International Monetary Fund (IMF) forecasted German economic contraction in 2023 in their latest publication, he believes that this recession will not take place in Germany as the energy crisis envisaged across all EU states did not happen. In fact, German inflation for March 2023 declined to 7.4% for the year, in line with expectations, from 8.7% in the previous month. Elsewhere, UK GDP stalled in February 2023 month-over-month, below the forecasted rise of 0.1%, as the declines in the services sector (-0.1%) and production output (-0.2%) were offset by the gains in the construction sector (+2.4%) and retail trading (+1.2%).


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.