Daily Review 20.01.2025
GO share price drops to new 10-year low
The MSE Equity Price Index fell by 0.29% to 3,752.432 points as the declines in APS, BMIT, GO, Hili Properties, IHI, and MIA outweighed the gain in BOV. Meanwhile, three other equities closed unchanged as today’s total trading activity in local equities amounted to €0.32 million. Download today’s Equity Market Summary.
GO plc shed 0.8% to a fresh 10-year low of €2.58 across eight deals amounting to 33,271 shares.
GO’s data centre and digital infrastructure subsidiary BMIT Technologies plc slumped by 3.0% to an all-time low of €0.32 level across three trades totalling 35,125 shares.
Malta International Airport plc eased by 0.8% to the €6.20 level over ten trades amounting to 6,310 shares. Last week, MIA published the December 2024 traffic results and provided key performance targets for 2025, in which it expects passenger movements of 9.3 million compared to the 2024 figure of 8.96 million. This is expected to translate into revenues of €147 million, EBITDA of €91 million and net profit of €48 million, all of which would be record levels. Capital expenditures are forecasted at €70 million. MIA also stated that the Board of Directors has resolved to recommend to shareholders at the forthcoming Annual General Meeting (AGM) a proposal for the Company to put in place a share buyback programme. The Company explained that the proposal will include a minimum purchase price per share of €3.00 and a maximum of €7.38. The total amount of shares that can be repurchased will amount to 1% of the total issued share capital, equivalent to 1,353,000 shares. Any shares repurchased will be cancelled.
International Hotel Investments plc fell by 2.3% to the €0.42 level over four deals totalling 51,686 shares.
Hili Properties plc dropped by 1.0% to the €0.20 level over three deals amounting to 42,000 shares.
APS Bank plc moved 1.7% lower to the €0.565 level across three trades amounting to 9,400 shares after failing to hold onto an intraday day high of €0.6 (+4.3%).
On the other hand, Bank of Valletta plc gained 0.6% to the €1.74 level over eleven trades totalling 49,204 shares.
Meanwhile, Malta Properties Company plc held the €0.36 level on a single deal of 5,600 shares.
Plaza Centres plc traded flat at the €0.58 level as 90,264 shares changed hands.
Simonds Farsons Cisk plc stayed at the €6.50 level over three trades amounting to 1,308 shares.
The RF MGS Index shed 0.05% to 909.479 points as yields in the euro area remained elevated. The German Bundesbank President Joachim Nagel stated that due to the resilient services inflation as well as potential pressures to international trade from the US, the ECB is likely to take a more cautious monetary policy approach and stop reducing its interest rates. However, the International Monetary Fund projections published last Friday showed that economic growth in the euro area is anticipated to remain subdued (1.0% and 1.4% in 2025 and 2026 respectively), reflecting continued weakness in manufacturing and exports, as well as weakness in the German economy which will continue to lag that of other European countries. Meanwhile, euro area inflation is anticipated to fall towards the 2% target in 2025 driven by the cooling of labour markets as well as an expected decline in energy prices.
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.