The MSE Equity Price Index added 0.35% to an over two-week high of 4,497.771 points, largely reflecting the sharp rebound in the share price of IHI which outweighed the declines in MIDI and MPC. Trading volumes contracted sharply to just €0.17 million compared to €0.59 million last Friday.
International Hotel Investments plc surged 5% to regain the €0.63 level across 42,035 shares.
A single deal of 10,000 shares lifted the equity of Santumas Shareholdings plc 0.7% higher to the €1.42 level.
In the property segment, MIDI plc eased by 1.4% to the €0.69 level on volumes totalling 50,000 shares.
Malta Properties Company plc also performed negatively today with a drop of 1.8% to the €0.55 level on 36,180 shares.
Meanwhile, Bank of Valletta plc retained the €1.34 level after recovering from an intra-day low of €1.31 (-2.2%). A total of 56,666 shares traded.
Loqus Holdings plc also closed the day unchanged at the €0.085 level albeit on trivial volumes.
On Monday, Malta International Airport plc published an Interim Directors’ Statement updating the market on its financial performance since the start of the year.
Revenues grew by 12.2% year-on-year to €70.8 million, EBITDA increased by 12.9% to €44.1 million and net profits rose by 16.5% to €24.9 million. Looking ahead, MIA stated that the traffic projections for the current winter schedule are positive. Moreover, the company remains optimistic that Q4 2018 will follow the positive trend registered so far this year, and that the full-year financial results are expected to be in line with the revised projections dated July 26, 2018. In July, MIA had adjusted higher its forecasted revenue figure for the current financial year ending December 31, 2018 to over €90 million (+9.3% over FY2017). It had upgraded its FY2018 forecast EBITDA and net profit figures to over €53 million (+9.1% over FY2017) and €29 million (+20.1% over FY2017) respectively. The equity remained inactive today.
The RF MGS Index trended higher for the second consecutive day as it added a further 0.06% to 1,083.663 points. Sovereign bond yields in the eurozone drifted sharply lower on Monday amid heightened volatility in global equity markets reflecting concerns over tightening monetary policy in the US as well as uncertainties over Brexit, the passage of the 2019 fiscal budget in Italy and ongoing disputes between the US and China over trade.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.