Daily Review 14.08.2024

MIA climbs to a two-year high

 

The MSE Equity Price Index snapped a five-day winning streak as it declined by 0.04% to 3,873.842 points as the declines in HSBC, RS2 and AX Real Estate outweighed the gains in BOV, BMIT, MIA and MaltaPost. Meanwhile, eight equities closed unchanged as today’s trading activity in local equities amounted to €0.41 million. Download today’s Equity Market Summary.

Malta International Airport plc was today’s most actively traded equity as it gained 1.7% to reach a two-year high of €6.15 over seven trades amounting to 36,030 shares. Last Monday, MIA announced that it welcomed a record 951,861 passengers during July 2024, an increase of 12.2% compared to July 2023 and 8.4% higher than the previous record in August 2023. In fact, July 2024 was the airport’s first month to ever surpass 900,000 movements. The seat load factor for July 2024 was 89.7%, 0.6 percentage points more than July 2023. Additionally, total seat capacity was 11.5% higher when compared to the corresponding month in 2023. Recently, the Board of Directors declared a net interim dividend of €0.06 per share, double the interim dividend paid in 2023. The dividend is payable by not later than Friday 13 September 2024 to all shareholders as at the close of trading on Tuesday 20 August 2024.

Bank of Valletta plc moved 0.6% higher to the €1.65 level across eight trades amounting to 31,650 shares.

BMIT Technologies plc surged by 7.9% to the €0.356 level across six deals amounting to 56,690 shares.

MaltaPost plc increased by 2.3% to the €0.44 level on a single trade of 5,000 shares.

On the other hand, HSBC Bank Malta plc shed 1.8% to the €1.66 level across two trades amounting to 3,200 shares.

AX Real Estate plc fell by 0.9% to the €0.452 level over three trades totalling 25,745 shares.

The ordinary shares of RS2 plc slumped by 6.7% to a multi-year low of €0.70 across five deals amounting to 22,981 shares. Last Monday, RS2 plc announced that its Board of Directors is scheduled to meet on Wednesday 28 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024.

Meanwhile, the preference shares of RS2 plc traded flat at the €0.755 level as 12,000 shares changed hands.

Hili Properties plc closed unchanged at the €0.202 level on two trades amounting to 20,844 shares.

GO plc traded flat at the €3.00 level across three deals totalling 9,048 shares.

International Hotel Investments plc held the €0.45 level as 37,700 shares changed hands.

A single trade of 6,000 shares left the share price of Mapfre Middlesea plc unchanged at the €1.32 level.

Simonds Farsons Cisk plc closed unchanged at the €6.85 level on two deals amounting to 1,730 shares.

APS Bank plc and Santumas Shareholdings plc both held the €0.494 and €1.30 levels respectively over trivial volumes.

The RF MGS Index rose by 0.3% to a one-week high of 906.457 points. Data released today showed inflation in the United States during July unexpectedly fell to 2.9%, the lowest level since March 2021, compared to a projected flat reading of 3.0%. Notably, there was a slowdown in the increase of shelter and transportation prices which was partly offset by a slight uptick in energy prices. Furthermore, core inflation declined to 3.2% from 3.3% last June as per forecasts, reaching the lowest level since April 2021.

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell 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.