Daily Review (12.02.2024)

MIA achieves record passenger movements in January


The MSE Equity Price Index climbed by 0.43%% to 3,767.615 points as the gains in MIA, HSBC, BMIT, RS2, and Harvest outweighed the declines in APS, GO, and MPC. Meanwhile, Plaza Centres plc held the €0.62 level on one deal of 4,650 shares. Download today’s Equity Market Summary.

Malta International Airport plc recovered last Friday’s losses as it advanced by 1.8% to the €5.65 level across five trades totalling 2,285 shares. Today, Malta International Airport plc published the January 2024 traffic results. Passenger movements reached a new record for January and amounted to 465,482 passenger movements, which is 11.3% higher than the previous record registered in January 2020, prior to the pandemic. Passenger movements in January 2024 were also 22.7% higher than the movements registered in the same month last year. Meanwhile, the seat load factor for January 2024 stood at 74% compared to almost 77% in January 2023 and 71% in January 2020. However, the airport operator noted that seat capacity increased by 27.4% when compared to the same month last year.

Harvest Technology plc was today’s best-performing equity as it rebounded by over 60% to an almost two-month high of €1.18, albeit on a single deal of 2,500 shares.

The ordinary shares of RS2 plc moved 1.7% higher to the €1.17 level across five trades amounting to 53,502 shares, after recovering from an intraday low of €1.01 (-12.2%). Today’s volume-weighted average traded price was €1.143.

HSBC Bank Malta plc gained 0.8% to the €1.30 level on three deals totalling 28,131 shares.

BMIT Technologies plc increased by 2.6% to the €0.39 level on one trade of 40,000 shares.

BMIT’s parent company – GO plc – fell by 1.9% to the €3.10 level across three deals totalling 9,400 shares.

APS Bank plc shed 0.9% to the €0.545 level on two trades totalling 5,350 shares.

Malta Properties Company plc dropped by 4.9% to a one-month low of €0.348 as 5,000 shares changed hands.

The RF MGS Index reversed some of last week’s losses as it gained 0.15% to 887.109 points. Today, IMF managing director Kristalina Georgieva expressed confidence that the economy is heading for a soft landing. Furthermore, she remarked that central banks are expected to reduce their key interest rates by mid-year, barring any unexpected spillovers from the conflict between Israel and Hamas as well as the attacks on vessels in the Red Sea.


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.