Daily Market Highlights (19.01.2023)
MIA lifts the MSE Equity Price Index
The MSE Equity Price Index advanced by 0.06% to 3,556.395 points as the gain of MIA outweighed the declines of Malita and the ordinary shares of RS2. Meanwhile, three other equities remained unchanged as overall trading activity in equities was muted at just €0.02 million. Download today’s Equity Market Summary.
Malta International Airport plc was today’s only positive performing equity as it climbed 1.8% to the €5.75 level across five trades totalling 647 shares. Yesterday, MIA announced that the company is investing €175 million in the transformation of the airport in line with the company’s vision to take passenger numbers beyond the record levels of 2019. An amount of €39 million is planned to be disbursed in 2023. MIA also published its targets for 2023 which include passenger movements of 6.3 million (7.7% growth from 2022 and representing 86% recovery of pre-pandemic traffic in 2019). MIA expects to generate revenues of €97 million in 2023 (2019: €100.2 million), EBITDA of €59 million (2019: €63.2 million), and net profit of €29 million (2019: €33.9 million).
In contrast, Malita Investments plc was the worst performing equity today as it plunged by 7.7% to the €0.60 level on one deal of 2,000 shares.
The ordinary shares of RS2 Software plc moved 1.7% lower to the €1.17, albeit on trivial volumes.
Two trades totalling 2,534 shares left the share price of PG plc at the €2.06 level.
APS Bank plc traded flat at the €0.60 level across two deals totalling 11,035 shares.
Harvest Technology plc closed unchanged at the €1.44 level after recovering from a low of €1.43 (-0.7%) as 3,000 shares exchanged hands.
The RF MGS Index extended yesterday’s gain as it rose by a further 0.79% to 879.321 points, albeit the eurozone sovereign bond yields moved higher following key statements by ECB monetary policy committee members at the World Economic Forum. Today, the Governor of the Dutch Central Bank Klaas Knot stated that the ECB will continue increasing its key interest rates to lower inflation levels further. His comments were reiterated by ECB President Christine Lagarde as she warned that the ECB is determined to increasing borrowing costs since all measures of inflation remain a concern at their current elevated levels and interest rates need to be in restrictive territory for a period long enough to lower inflation to the 2% target.
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.