The MSE Equity Price Index shed 0.27% to a three-week low of 4,462.766 points on Thursday,, mostly weighed down by the 2.2% decline in the share price of HSBC. Trading activity slowed down with only €0.15 million worth of shares changed hands today.
A single deal of just 3,828 shares forced the equity of HSBC Bank Malta plc to retreat back to the €1.75 level (-2.2%). HSBC is due to publish its 2017 financial results on 20 February 2018. The Directors will also consider the declaration of a dividend to be recommended to shareholders during the Annual General Meeting to be held on 12 April 2018.
Among the large companies by market capitalisation, RS2 and MIA also trended lower today. RS2 Software plc retracted by 0.7% to the €1.45 level across 9,090 shares whilst Malta International Airport plc eased by 0.4% from its all-time high of €5.00 to the €4.98 level albeit on light volumes. Last Friday, MIA revealed that it registered a 17.5% increase in passenger movements in 2017 to a record of 6.01 million movements and the airport operator is expecting to welcome around 6.5 million passengers in 2018.
As a result, MIA is anticipating to generate an EBITDA of over €52 million which should translate into a net profit of over €28 million in the current financial year ending 31 December 2018. The financial results for 2017 and the recommendation of a final dividend will be announced on Wednesday 21 February 2018.
In contrast, International Hotel Investments plc added 0.8% to the €0.62 level after falling to hold on to an intra-day high of €0.63 (+2.4%) set at the opening of today’s trading session. Only 2,093 shares traded.
In the property sector, MIDI, Plaza and MPC all registered gains on low trading volumes. MIDI plc recaptured the €0.34 level (+3%), whilst Plaza Centres plc and Malta Properties Company plc advanced by 2% and 1.4% to the €1.02 and €0.442 levels respectively.
Meanwhile, Bank of Valletta plc maintained the €1.80 level across 51,864 shares.
Medserv plc (3,000 shares) and Simonds Farsons Cisk plc (1,890 shares) traded unchanged at the €1.16 and €7.75 levels respectively. Listing of the shares in Trident Estates plc (the property management arm being spun-off from Farsons) is expected to take place on 30 January 2018.
The RF MGS Index extended yesterday’s decline of 0.02% by a further 0.16% to 1,114.949 points, reflecting a strong rebound in euro zone sovereign yields following the issue of fresh supply from France, Spain and Austria.