Daily Market Highlights (30.07.2021)

Malita Investments retreats to 15-month low


The MSE Equity Price Index lost 0.02% to 3,832.415 points as the declines in Malita, PG and HSBC outweighed the gain in BOV. Meanwhile, BMIT, GO and MIA closed unchanged as overall trading activity improved to €0.11 million. Download today’s Equity Market Summary.

Malita Investments plc shed 2.4 % to a 15-month low at the €0.82 level on a single deal of 20,000 shares.

Similarly, PG plc lost 2.7% to the €2.16 level on one trade of 1,000 shares.

The other negative performing equity today was HSBC Bank Malta plc which retracted by 1.9% to the €0.79 level across three trades totalling 18,413 shares. HSBC will be publishing its interim financial statements next Monday.

Bank of Valletta plc was the only positively performing equity today as it added 2.3% to the €0.90 level on five trades totalling 64,098 shares. Yesterday, BOV published its interim financial results covering the six-month period ended 30 June 2021. BOV reported a significant jump in pre-tax profit which amounted to €25.9 million compared to €13.8 million in H1 2020. The improvement in performance mainly emanated from a release of €3 million in impairments and a substantial improvement in the performance of associate companies. BOV did not declare an interim dividend.

Meanwhile, BMIT Technologies plc closed unchanged at the €0.49 level on two trades totalling 20,000 shares. BMIT will be publishing its 2021 interim financial results on 6 August.

BMIT’s parent company, GO plc, also traded flat at the €3.40 level albeit on insignificant volumes. GO will be publishing its 2021 interim financial results on 9 August.

Malta International Airport plc remained unchanged at the €6.20 level on a single trade of 500 shares. On Wednesday, MIA reported a pre-tax loss of €3.9 million reflecting the adverse impact of the pandemic on tourism and travelling. In their commentary, the Directors noted that the easing of travel restrictions together with several traffic developments led to an improvement in the passenger numbers handled by the airport operator during the month of June when compared to the previous months. However, the industry’s recovery continues to be beset by uncertainties as travel restrictions continue to change, thereby dampening consumer confidence in both air travel in general and Malta as a destination.

Today, Malta Properties Company plc announced that the promise of sale agreement for the disposal of the St George’s Exchange has been extended to 6 September 2021. The equity remained inactive today and the company will be issuing its interim financial statements on 5 August.

The RF MGS Index eased by 0.04% to 1,103.537 points as the Eurozone economy expanded by 2% during the second quarter of this year from the previous quarter, beating earlier estimates of 1.5% growth. Europe’s economy also had a better-than-expected unemployment rate in June at 7.7%, the lowest figure recorded in the last 11 months. Meanwhile, the eurozone annual inflation as of July reached 2.2% from 1.9% in June, with energy, food and services prices being the main contributors to such an increase.