Daily Market Highlights (15.01.2018)

  • The MSE Equity Price Index opened the week in negative territory as it dropped by 0.52% to a fresh 2018 low of 4,451.94 points, reflecting the declines in the share prices of six equities whilst only Malta Properties Company plc trended higher with a gain of 0.5% to the €0.436 level across 7,560 shares. The total value of equities traded topped €2 million today on very high volumes transacted in Bank of Valletta plc which lost 1.1% back to the €1.80 level on nearly 1.05 million shares having a market value of €1.87 million. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index erased last Friday’s decline as it rebounded by 0.26% to a four-day high of 1,116.744 points today. Euro zone sovereign yields remained near their recent highs amid expectations that the ECB will end its current quantitative-easing programme later this year.
  • Amongst the large companies by market capitalisation, RS2 Software plc and HSBC Bank Malta plc also performed negatively today. RS2 retreated by 1.3% to the €1.47 level across 13,440 shares while a single deal of just 2,000 shares forced the equity of HSBC 0.6% lower to €1.75. The bank is due to publish its 2017 financial results on 20 February 2018. The Directors will also consider the declaration of a dividend to be recommended to shareholders during the Annual General Meeting to be held on 12 April 2018.
  • Grand Harbour Marina plc eased by 0.4% to the €0.76 level across 43,500 shares.
  • In the property segment, Plaza Centres plc tumbled by 9.1% to the €1.00 level albeit on two deals totalling 12,300 shares and MIDI plc dropped 2.9% to the €0.33 level also on light volumes.
  • Meanwhile, Malta International Airport plc held on to its all-time high of €4.80 on volumes totalling 12,910 shares. Last Friday, MIA revealed that it registered a 17.5% increase in passenger movements in 2017 to a record of 6.01 million movements. The airport operator also provided its 2018 forecasts. These show that the airport operator is expecting to welcome around 6.5 million passengers (representing a growth of between 7% and 9% over 2017). As a result, MIA is anticipating to generate an EBITDA of over €52 million which should translate into a net profit of over €28 million. Today, MIA announced that its Board of Directors is scheduled to meet on Wednesday 21 February 2018 to consider and approve the financial statements for the financial year ended 31 December 2017. The Directors will also consider the payment of a dividend.
  • Simonds Farsons Cisk plc closed unchanged at the €8.05 level after opening at a low of €8.00 (-0.6%). A total of 2,490 shares changed hands.
  • PG plc (6,000 shares) and Santumas Shareholdings plc (10,000 shares) maintained the €1.40 and €1.50 levels respectively.