Daily Market Highlights (26.02.2020)

MIA raises dividend payment


The MSE Equity Price Index eased marginally lower to 4,632.057 points as six equities, including IHI, GO and HSBC, which offset the gains in MIA, RS2, GO and three other equities. Meanwhile, a further three equities ended the day unchanged with trading activity rebounding to reach €0.36 million. Download today’s Equity Market Summary.

Shortly after the close of today’s trading session, Malta International Airport plc published its 2019 annual financial statements revealing an 11.9% increase in net profits to €33.9 million largely on the back of yet another record year of passenger movements which reached 7.3 million. The Directors also announced a final net dividend of €0.10 representing an 11.1% increase from the previous year’s figure. Coupled with the net interim dividend of €0.03 per share, the total dividend that will be paid out in respect of the 2019 financial year amounts to €0.13 which translates into payout ratio of 51.8% (2018: 53.4%). MIA’s equity edged 0.8% higher today to regain the €6.70 level albeit on shallow volumes of 4,200 shares.

GO plc also trended higher today with a 0.5% increase to close at the €4.22 level for the first time since early January on just 1,736 shares. GO’s subsidiary, BMIT Technologies plc inched minimally higher to recapture the €0.53 level for the first time since early November 2019 across healthy volumes of 162,161 shares. Both GO and BMIT are scheduled to publish their respective 2019 full-year results on 12 March.

Similarly, RS2 Software plc rebounded to regain its all-time high of €2.56 across eight deals totalling 14,313 shares.

Mapfre Middlesea plc added 3.5% increase to €2.36 across 5,000 shares and Grand Harbour Marina plc jumped 19% to recapture the €0.55 level on elevated volumes of 121,658 shares.

On the other hand, International Hotel Investments plc drifted 2.5% lower back to the €0.77 level on a single trade of 1,353 shares.

Similarly, HSBC Bank Malta plc failed to hold on to recent gains as it slipped 1.9% back to the €1.05 level across ten deals totalling 81,979 shares. Shareholders as at close of trading on 5 March will be entitled to receive a final net dividend of €0.014 per share.

PG plc continued to retreat from its all-time high (reached at the end of January 2020) as it eased 0.5% lower back to the €1.96 level on a single deal of 5,000 shares.

A single trade of 20,000 shares of MIDI plc was executed at the €0.48 level representing a 2% drop from the previous closing price.

GlobalCapital plc ranked as the day’s worst performer with a 25.5% drop back to the €0.216 level on weak volumes of 3,000 shares.

Trident Estates plc slipped by 6.5% back to the €1.57 level on just 251 shares.

Meanwhile, Bank of Valletta plc held on to the €1.05 level on volumes of 9,017 shares. The Bank is expected to announce its 2019 full-year results in the coming weeks.

Likewise, Malta Properties Company plc held on to the €0.665 level across 1,000 shares and Simonds Farsons Cisk plc retained the €11.00 level on just 251 shares.

The RF MGS Index trended lower for the second consecutive session with a further 0.03% decline to 1,156.174 points as yields on peripheral eurozone bonds moved higher on the escalating concerns over the adverse effects of the coronavirus.