Daily Market Highlights (24.02.2020)

MIA & IHI lead the MSE Equity Price Index lower 


The MSE Equity Price Index opened the week sharply lower as it lost 1.26% to a two-month low of 4,607.177 points. The drop was mostly driven by the declines in MIA and IHI which, together with the declines in HSBC and RS2, outweighed the gain in Lombard. Meanwhile, five companies closed the day unchanged as most of today’s trading activity took place in MIA and HSBC. Download a copy of today’s Equity Market Summary.

Malta International Airport plc plunged 5.1% to the €6.55 level after partially recovering from a near twelve-month low of €6.50. A total of 15,170 shares changed hands. The airport operator is due to publish its 2019 full-year financial results on Wednesday 26 February. The Directors will also consider the payment of a final dividend.

Also among the large companies, International Hotel Investments plc shed 5% to the €0.76 level albeit on just 10,927 shares.

Low trading activity also took place in RS2 Software plc which moved back to the €2.50 level (-0.8%) across 3,000 shares.

Conversely, HSBC Bank Malta plc was the most actively traded equity today as it eased 0.9% to the €1.06 level on nine deals totalling 166,746 shares having a market value of €0.18 million. Shareholders as at close of trading on 5 March will be entitled to receive a final net dividend of €0.014 per share.

Within the same segment, Lombard Bank Malta plc added 0.9% to regain the €2.18 level across 4,287 shares.

On the other hand, seven deals totalling 11,418 shares left the equity of Bank of Valletta plc at the €1.05 level.

BOV’s insurance associate – Mapfre Middlesea plc – stayed at the €2.28 level on a single deal of 2,500 shares.

Main Street Complex plc and Loqus Holdings plc traded flat at €0.57 and €0.08 respectively on insignificant volumes.

BMIT Technologies plc continued to trade within a tight range as the equity maintained the €0.525 level across 94,070 shares. Today, BMIT announced that its Board of Directors is scheduled to meet on Thursday 12 March to consider and approve the financial statements for the year ended 31 December 2019. The Directors will also consider recommending a dividend.

Likewise, GO plc announced that will be publishing its 2019 full-year results on Thursday 12 March. The Directors will also consider recommending a dividend.

The RF MGS Index trended higher for third consecutive day as it added a further 0.06% to 1,157.244 points – the highest level since early November 2019. Most prices of Malta Government Stocks continued to strengthen amid a sharp sell-off across international equity markets reflecting concerns over the outbreak of coronavirus across the world. Conversely, demand for ‘safe haven’ assets surged. In fact, the 10-year and 20-year German Bund yields dropped to their lowest levels in over four months of -0.5% and -0.26% respectively before partially recovering.