Daily Market Highlights (24.02.2022)
MSE Equity Price posts 3-day negative streak
The MSE Equity Price Index moved lower for the third consecutive session as it slipped by a further 0.12% to 3,758.659 points. The decline in the share price of BOV outweighed the gains in Hili Properties and Loqus while MIA and MPC closed the day unchanged. Trading activity in equities amounted to €0.12 million. Download today’s Equity Market Summary.
Most of today’s trading activity took place in the equity of Bank of Valletta plc which lost 1.2% back to the €0.80 level on ten deals totalling 107,911 shares representing over 70% of today’s value of shares traded.
Hili Properties plc moved 0.8% higher to the €0.262 level after opening at a low of €0.25 (-3.8%). A total of 25,500 shares changed hands.
Also in the property sector, Malta Properties Company plc stayed at the €0.52 level on three trades totalling 3,870 shares. Today, MPC announced that its Board of Directors is scheduled to meet on Thursday 17 March to consider and approve the financial statements for the year ended 31 December 2021. The Board will also consider the recommendation of a dividend.
Malta International Airport plc traded flat at the €5.85 level on activity totalling 3,000 shares. On Tuesday, 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.
On the Alternative Companies List, Loqus Holdings plc surged by 10% to the €0.11 level across 80,000 shares.
The RF MGS Index advanced by 0.24% to 1,038.032 points. Eurozone yields fell markedly amid reports of Russian troops initiating a military intervention in Ukraine. As the conflict added to market volatility, the demand for safer assets such as sovereign bonds increased considerably.
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.