Daily Market Highlights (17.03.2021)

MSE Equity Price Index falls to 15-week low


The MSE Equity Price Index lost 1.44% as it slumped to a fresh 15-week low of 3,773.671 points as the declines in HSBC, IHI, Farsons and Tigné Mall (all on low volumes) heavily outweighed the gains in PG. Meanwhile BMIT, GO, MIA and Malita closed unchanged as overall trading activity rose to €0.24 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc plunged 5.9% to its lowest closing price in nearly 4 months at the €0.80 level across a single deal of 903 shares. Shareholders as at close of trading on Thursday 18 March 2021 will be entitled to a final net dividend of €0.00754 per share payable on Monday 26 April 2021.

Tigné Mall plc closed at a 6-year low as it fell by 10.3% to the €0.655 level across just 2,000 shares.

Similarly, International Hotel Investments plc lost 9.5% as it closed at a near 5-month low at the €0.525 level across 2,887 shares.

Meanwhile, Simonds Farsons Cisk plc eased by 0.6% to the €7.85 level across a single trade of 613 shares.

PG plc edged 1% higher as it regained the €2.02 level across 8,025 shares.

GO plc closed unchanged at the €3.50 level as 15,000 shares changed hands. GO are recommending a record net dividend of €0.16 per share to all shareholders as at the close of trading on Friday 23 April 2021 and will be paid out on Monday 31 May 2021.

GO’s subsidiary – BMIT Technologies plc – retained the €0.53 level across heightened activity of 159,500 shares. BMIT’s Board of Directors are recommending a final net dividend of €0.02922 per share. The final net dividend will be paid on Friday 28 May 2021 to all shareholders as at close of trading on Thursday 22 April 2021.

Elsewhere, Malta International Airport plc remained rooted to the €5.75 level as 6,218 shares changed hands whilst Malita Investments plc traded unchanged at the €0.89 level across 50,917 shares. Malita’s Board of Directors is recommending the payment of a final net dividend of €0.0142 per share to all shareholders as at the close of trading on Wednesday 7 April 2021. The final dividend will be paid on Tuesday 18 May 2021 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on Tuesday 11 May 2021.

The RF MGS Index declined by 0.10% to 1,118.138 points before being revised a further 0.14% lower to 1,116.613 points later this afternoon. Yesterday, Malta received a €123 million loan from the European Commission to help address the sudden increase in public expenditure due to the coronavirus outbreak. The loan marks the second and final tranche from a total of €243.6 million allocated to Malta last year. Meanwhile, the EU is expected to unveil a proposed ‘European vaccine pass’ later today, which is essentially a digital certificate to show at airports and border crossings to prove that the traveller has been inoculated. The idea was pushed by tourist hotspots such as Greece and Malta who are looking to boost their tourism sectors which form a major part of their respective economies.