Daily Review 11.06.2024

MIA sees record movements in May 2024


The MSE Equity Price Index decreased by 0.10% to 3,713.166 points as the declines in HSBC, MIA and Malta Properties outweighed the gains in APS, Hili Properties and IHI. Meanwhile, two equities closed unchanged as trading activity in local equities was muted at just €0.05 million. Download today’s Equity Market Summary.

Malta International Airport plc shed 3.5% to an almost five-month low of €5.50 across seven deals totalling 2,410 shares. Today, Malta International Airport plc announced that passenger movements during May 2024 amounted to a record 858,402, 18.2% above the comparable figure of 726,299 registered last year. In this respect, last month was the airport’s second-best-ever in terms of movements falling just 2.2% short of the airport’s best month, August 2023 which had 878,462 movements. The seat load factor for May 2024 was 85.9%,3.0 percentage points higher than in May 2023. Furthermore, seat capacity was 14.1% higher when compared to last year with a total of 5,607 take-offs and landings recorded in May 2024. The passenger movements during the five-month period ended May 2024 amounted to 3.21 million, representing an increase of 19.6% over the corresponding period last year.

Also among large companies by market value, HSBC Bank Malta plc moved 0.7% lower to the €1.42 level on two deals of 4,624 shares.

Malta Properties Company plc slumped by 10.0% to the €0.306 level albeit over trivial volumes.

In contrast, Hili Properties plc reversed some of yesterday’s losses as it surged by 5.3% to the €0.20 level over six trades amounting to 74,410 shares. Shareholders of Hili Properties as at the close of trading on Friday 21 June will be entitled for a final net dividend of €0.0108 per share, subject to approval at the upcoming Annual General Meeting to be held on Tuesday 25 June 2024.

APS Bank plc rose by 2.0% to the €0.51 level on two trades of 4,170 shares.

International Hotel Investments plc climbed by 3.9% to the €0.478 level after recovering from an intra-day low of €0.422 (-8.3%) across three trades amounting to 5,400 shares.

BMIT Technologies plc held the €0.34 level on one deal of 11,300 shares.

Bank of Valletta plc closed unchanged at the €1.41 level after recovering from an intra-day low of €1.39 (-1.4%) on two trades of 4,000 shares.

The RF MGS Index fell by 0.21% to a seven-month low of 883.994 points. French Government bond yields continued to rise following the snap election announcement last weekend, with the French 10-year exceeding 3.3%, albeit still below November’s multi-year high of around 3.43%. Consequently, the spread between the French and German 10-year bond yields widened to about 60 basis points, the widest spread since last January. Elsewhere in the UK, data showed that wage payments increased by 6% year-over-year in line with expectations. Meanwhile, the unemployment rate in April was higher than expected at 4.4%, reaching the highest level since October 2021.


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.