Daily Market Highlights (16.11.2021)

MSE Equity Price Index reaches 1-month high


The MSE Equity Price Index moved higher for the second consecutive session as it surged 1.64% to a one-month high of 3,926.268 points. All actively traded equities performed positively as trading activity remained subdued with less than €0.04 million worth of shares changing hands. Download today’s Equity Market Summary.

Malta International Airport plc added 1.7% to regain the €6.00 level on two deals totalling 1,000 shares. Last Friday, MIA announced that during the month of October, it welcomed 428,426 passengers which is the strongest monthly figure since the outbreak of the COVID-19 pandemic. The airport operator also provided information about its financial performance and position until September 2021. In this respect, MIA explained that revenues amounted to €32.3 million compared to €25 million in the same period in 2020 and €77.3 million in 2019. As the airport operator continued to exercise strict control over costs, operating expenses contracted by 9.3% to €16.5 million compared to €18.2 million in 2020. As a result of the considerable increase in revenues and the reduction in costs, EBITDA more than doubled to €15.8 million compared to €6.8 million in 2020. However, this is still 68.2% lower than the EBITDA of €49.6 million recorded in Q1-Q3 2019. From a financial position perspective, cash balances dropped by €10.6 million to €20.5 million compared to €31 million as at the end of 2020. On the other hand, the airport operator remained free from any bank and other borrowings.

Today’s best performing equity, Simonds Farsons Cisk plc, rallied by 18.1% to the €9.80 level as 1,250 shares changed hands, albeit most of the trades took place at the €8.50 level (+2.4%).

HSBC Bank Malta plc advanced by 2.5% to the €0.83 level on a single deal of 13,131 shares.

Also in the retail banking sector, Bank of Valletta plc traded 1.1% higher at the €0.88 level on three deals totalling 9,530 shares.

The RF MGS Index erased all the gains registered in the past two days as it retreated by 0.33% to 1,085.375 points. Eurostat data showed that the eurozone economy grew by 2.2% in Q3 2021, in line with previous forecasts. Meanwhile, Italy’s inflation rate exceeded expectations and reached 3% in October, the highest reading since September 2012. Meanwhile in the US, retail sales increased by 1.7% in October over the previous month, boosted by a rebound in vehicle sales following an improvement in production levels.