• The MSE Share Index shed 0.2% to 3,327.349 points as the two large banks’ equities trended lower to offset the increases in GO and Malita. Download a copy of the Equity Market Summary. Over the week, the local equity benchmark edged 0.5% higher for the first time in the last eleven weeks largely due to the jump in GO’s share price.
  • On the bond market, the Rizzo Farrugia MGS Index returned into positive territory with a 0.2% increase to yet another all-time high of 1,056.661 points as Eurozone yields marginally retreated back to 1.265% possibly due to the dovish comments made by the President of the European Central Bank (ECB) Mario Draghi as he reiterated the Bank’s commitment to aid the Eurozone’s recovery. This includes maintaining low interest rates for a prolonged period.
  • The share price of GO advanced for the fourth consecutive session as further demand emerged for the equity following this week’s announcement by Forthnet revealing that OTE S.A. (the incumbent telecoms operator in Greece) has submitted a non-binding offer to acquire the NOVA pay-tv platform of Forthnet for a consideration ranging between €250 million to €300 million, on a debt free/cash free basis (i.e. excluding net debt). The announcement explained that the offer is based on certain assumptions and is subject to terms and conditions, customary to such transactions. The Board of Directors of Forthnet S.A. noted that it will evaluate the offer and inform the investing public accordingly. GO’s shares gained a further 0.7% today to close at a fresh 4-year high of €2.20 across four deals totalling 12,500 shares.
  • The only other positive performing equity was Malita Investments with a 1.8% increase to a new all-time high of €0.56 across 8,910 shares.
  • On the other hand, the share price of BOV edged 0.2% lower to €2.05 across fifteen deals totalling 49,538 shares.
  • Similarly, the equity of HSBC shed 0.8% to €2.032 on just 373 shares.
  • Meanwhile, no change was registered in the share price of Middlesea Insurance at the €0.88 level on shallow volumes of 200 shares.

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