Daily Market Highlights (21.04.2021)

MSE Equity Price Index rebounds by 1.1%


The MSE Equity Price Index partially recovered from yesterday’s sharp decline as it rebounded by 1.1% to 3,879.748 points. The gains in eight companies outweighed the declines in BMIT, GO and MaltaPost whilst MIA closed unchanged. Meanwhile, trading activity improved to just under €0.2 million. Download today’s Equity Market Summary.

PG plc closed at a fresh all-time high as it advanced by nearly 2% to the €2.12 level across 9,500 shares.

Bank of Valletta plc edged 1.1% higher as it regained the €0.90 level across 15,711 shares.

Meanwhile, HSBC Bank Malta plc rose by 3.6% to the €0.86 level as 43,051 shares changed hands.

In the property segment, a single trade of 1,000 shares lifted Tigné Mall plc 2.1% higher to the €0.745 level whilst Malita Investments plc added 1.7% to the €0.88 level across 5,000 shares. Today, Tigné Mall plc’s Board of Directors are scheduled to meet to consider and approve the financial statements for the year ended 31 December 2020.

Also in the same sector, Malta Properties Company plc jumped by 4.7% to a 6-week high at the €0.555 level as 48,000 shares changed hands. The Board of Directors of MPC is recommending the payment of a net dividend of €0.012 per share. Shareholders as at close of trading on 14 June 2021 will be entitled to receive this dividend on 21 July 2021 subject to shareholders’ approval during the upcoming Annual General Meeting scheduled to be held remotely on 15 July 2021.

Following yesterday’s heavy declines, Simonds Farsons Cisk plc recovered by 7.5% to the €8.65 level across 524 shares whilst Mapfre Middlesea plc rebounded by 10.3% to the €2.34 level as 2,198 shares changed hands.

Elsewhere, MaltaPost plc plunged by 11.4% to a near 2-week low at the €1.17 level across 3,089 shares.

A single trade of 18,800 shares BMIT Technologies plc resulted in a 1% decline to the €0.525 level. Shareholders as at close of trading tomorrow will be entitled to receive a final net dividend of €0.02922 per share.

GO plc slid by 3.3% as it returned to the €3.52 level across 4,123 shares. Shareholders as at close of trading on Friday 23 April will be entitled to receive a final net dividend of €0.16 per share.

Malta International Airport plc remained rooted to the €6.20 level as 9,169 shares changed hands.

Today the RF MGS Index recovered some of yesterday’s losses as it advanced by 0.15% to 1,113.342 points. The steep rise in COVID-19 cases in India overshadowed the positive economic recovery data in Europe. On the political side, Russian President Vladimir Putin addressed the nation in his annual “State of the Nation” speech, were he warned against provocations amid growing tensions with Ukraine and sanctions imposed by the EU and the US. Meanwhile, on the vaccine front drug maker Johnson & Johnson (“J&J”) said it would resume rolling out its COVID-19 vaccine in Europe after the European Medicines Agency said the benefits outweighed the risks. The agency said J&J must add a warning about rare blood clots to the vaccine label.

Yesterday, Main Street Complex plc published its annual report and financial statements for the year ended 31 December 2020. The company noted that revenues contracted by almost 37% to €0.52 million as its operations were materially impacted by COVID-19. Consequently, pre-tax profit declined to €0.22 million compared to €0.52 million in 2019. In their commentary, the Directors noted that the financial results for 2021 are expected to remain relatively subdued. Main Street Complex also explained that in light of the prevailing circumstances related to COVID-19, it is not recommending the payment of a dividend.