Daily Review (16.01.2023)

MSE Equity Price Index trends higher


The MSE Equity Price Index recovered some of yesterday’s losses as it climbed by 0.74% to 3,786.977 points driven by the gains in six equities. Meanwhile, two other equities closed unchanged as today’s trading activity totalled €0.10 million. Download today’s Equity Market Summary.

Bank of Valletta plc gained 0.8% to the €1.33 level across three trades totalling 5,967 shares.

Also in the banking sector, HSBC Bank Malta plc moved 1.6% higher to the €1.27 level over three deals amounting to 4,800 shares.

A single trade consisting of 140 shares of Malta International Airport plc pushed its price 0.9% higher to the €5.60 level. Last Thursday, MIA published the December 2023 traffic results and provided key performance targets for 2024. Passenger movements at MIA in 2023 reached a record of just over 7.8 million, which is 6.7% higher than the previous record of 7.31 million passenger movements registered in 2019. For 2024, MIA expects passenger movements of 8 million, revenue of €126 million, EBITDA of €79 million and a net profit of €42 million, which are all marginally higher than the forecasted figures for 2023. Meanwhile, MIA explained that capital investments in 2024 will amount to €45 million.

MIDI plc rose by 16.5% to reach a two-week high of €0.31 as 40,010 shares changed hands across three deals.

BMIT Technologies plc recovered from an intra-day low of €0.38 (-2.6%) to close today’s session 2.1% higher at a two-week high of €0.398 over five trades totalling 86,668 shares.

The Convenience Shop (Holding) plc surged by 16.0% to the €1.05 level to fully recover yesterday’s decline, albeit over trivial volumes.

Meanwhile, GO plc, traded flat at the €3.26 level across five deals totalling 6,500 shares. GO shareholders as at the close of trading today will receive an interim dividend of €0.15 per share on Thursday 1 February 2024.

Similarly, Tigné Mall plc held on to the €0.82 level on one trade of 29,000 shares.

The RF MGS Index marginally decreased by 0.08% to 895.474 points reflecting the recent rebound in yields as expectations of an interest rate cut early this year were dampened by comments from various ECB policymakers. In this respect, Finnish policymaker Tuomas Valimaki commented that it is better to wait “a bit longer” than to commit to a premature exit from this restrictive level.

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.