Daily Market Highlights (23.02.2022)
MIA to invest €40m in a new apron
The MSE Equity Price Index extended yesterday’s drop as it eased by a further 0.33% to 3,763.291 points. The declines in the share price of MIA, Tigné Mall and MIDI outweighed the rebound in BOV whilst PG and Farsons closed the day unchanged. Trading activity in equities remained subdued as only €0.04 million worth of shares changed hands. Download today’s Equity Market Summary.
Malta International Airport plc shed 2.5% back to the €5.85 level albeit on just 467 shares. Yesterday, the airport operator reported revenues of €47.4 million and a net profit of just under €7 million in 2021 reflecting the gradual recovery in tourism numbers following the slump in global air travel in 2020 due to the pandemic. In light of the company’s confidence on the industry’s ability to continue recovering and achieve new records, MIA unveiled a €40 million investment in a new apron covering an area of approximately 100,000 sqm which will also be MIA’s largest investment in aerodrome infrastructure. Works on the project are expected to commence in the coming weeks once the Planning Authority grants the permit for this development.
In the property segment, Tigné Mall plc and MIDI plc fell by more than 5% to €0.71 and €0.406 respectively on light volumes.
A single deal of 10,099 shares left the share price of PG plc at the €2.22 level.
Simonds Farsons Cisk plc also ended the day unchanged at the €8.50 level after opening at a low of €8.25 (-2.9%). A total of 915 shares traded.
Meanwhile, Bank of Valletta plc added 1.3% to recapture the €0.81 level across 10,277 shares.
The RF MGS Index erased yesterday’s gains as it declined by 0.40% to 1,035.595 points. Movements across international financial markets continued to be dominated by developments taking place in Ukraine after the US and the EU issued fresh sanctions on Russia. Elsewhere, the Governor of Austria’s central bank opined that he would be in favour of an interest rate hike before the ECB stops its net purchases under the Asset Purchase Programme.
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.