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  • The MSE Share Index advanced by 0.4% during this morning’s session to 4,351.025 points as all equities performed positively except for IHI which closed unchanged. Trading activity was subdued as only €55,270 worth of shares changes hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index eased slightly to 1,129.455 points as the benchmark 10-year German Bund yield remained relatively stable hovering around the 0.60% level. However, the yield went down to the 0.56% level later this morning on renewed fears of a global slowdown. The head of the IMF Christine Lagarde stated that global growth in 2015 will likely be lower than that of 2014. Moreover she claimed that economic growth in 2016 is expected to be modest. Moreover, data released from China showed that September manufacturing fell for the second consecutive month.
  • The prices of the two Malta Government Stocks were established as follows: (i) the 2.00% MGS 2020 (V) FI at 106.25% (YTM of 0.714% pa) and (ii) the 2.30% MGS 2029 (II) FI at 102.50% (YTM of 2.09% pa). Subscriptions open next Monday 5 October.
  • Meanwhile, following the publication of a Prospectus by Hili Properties plc in connection with a new €37 million unsecured bond issue at a coupon rate of 4.5% per annum, Hili Ventures Group bondholders have until Monday 5 October 2015 to submit any applications whilst the subscription period for the General Public opens on Wednesday 7 October 2015.
  • The day’s top performer was Simonds Farsons Cisk plc as the food and beverages company advanced by 2.5% to a new all-time high of €5.75 albeit on insignificant volumes of 2,000 shares. Yesterday, the Company published its interim financial results which showed that during the period under review, the Group registered another positive performance with profits after tax rising by 14% to €4.6 million. Farsons will be distributing an unchanged net interim dividend of €0.0333 per share. This will be paid on Tuesday 20 October 2015 to all shareholders as at close of trading on the 2 October 2015.
  • Bank of Valletta plc also continued to add to its recent gains as it rose by a further 0.8% to close the session at the €2.39 level after briefly hitting an intra-day high of €2.40. This is the highest close since early April. Volumes were relatively week with only 13,689 shares changing hands. BOV generally publishes its preliminary full-year results by the end of October. Recently, the Bank also announced that it lodged an application with the Listing Authority for a subordinated debt issuance programme of a maximum of €150 million over the next twelve months. Further details will be issued in the Prospectus and Final Terms once approval is granted.
  • Also in the banking sector, both HSBC Bank Malta plc and Lombard Bank Malta plc edged up 0.6% to €1.81 and €2.15 respectively. Volumes were weak however across both equities.
  • A single deal of 1,625 shares in Mapfre Middlesea plc pushed the equity marginally higher to the €2.28 level.
  • Meanwhile, International Hotel Investments plc closed unchanged at the €0.80 level across just 500 shares.

 

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