• Following four successive sessions of declines, the MSE Share Index edged 0.1% higher to 3,446.806 points during the final session of the week. Today’s upturn was due to the 0.8% increase in BOV which offset the declines in GO and MaltaPost. Meanwhile, the other three active equities ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index slipped 0.2% lower back to 1,025.276 points as the benchmark 10-year Eurozone yield surged above the 1.7% level. The upturn in yields reflects the disappointment that the European Central Bank (ECB) did not consider an interest cut during yesterday’s monetary policy meeting as well as the renewed demand for riskier sovereign paper given the upbeat economic data (mainly relating to the manufacturing activity).
  • This morning’s upturn was due to the 0.8% increase in the share price of BOV to €2.32 on low volumes of 3,600 shares. Yesterday, the Bank published its Interim Directors’ Statement updating the market on its performance since 1 April 2013. During the period, the Bank reported that it continued to register pressure on interest margins given the low interest rate scenario and local competition whilst net commission increased. Costs remained in line with the previous year’s figures. The Directors also noted that the Bank’s investment book registered positive movements during the period under review. With respect to loan provisioning, the Bank retained its cautious approach towards loan provisioning in line with the call by both the local regulators and those at the EU level for banks to be more prudent and increase their provisions.
  • The share price of GO slumped 4.2% to an intra-day low of €1.601 before regaining the €1.65 level which still represents a 1.2% drop from the previous close. 15,000 shares of the telecoms quad-play operator changed hands today across five trades.
  • MaltaPost also closed 2.9% lower at the €1.00 level after only partially recovering from an intra-day low of €0.90 (the lowest closing price since early January) across 10,050 shares.
  • On the other hand, a further 32,500 Crimsonwing shares traded unchanged at the €0.69 level as the equity remains well supported on the back of further improvements in the Group’s financial performance during the current financial year ending 31 March 2014 given the growing business pipeline. The Group is also working on a new 3-year business plan and growth strategy.
  • Similarly, no change was registered in the share price of HSBC at the €2.701 across 2,000 shares.
  • The equity of Malita Investments also ended this morning’s session unchanged at the €0.51 level on a single deal of 5,000 shares.

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