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  • The MSE Share Index continued on its upward path as it edged 0.1% higher to 3042.569 points on an increase in the BOV share price. Meanwhile all other active equities closed unchanged. Download a copy of the Equity Market Summary.
  • On the local bond market, the Rizzo Farrugia MGS Index retreated 0.1% to 990.268 points reflecting the movement in Eurozone 10 year yields which recovered from yesterday’s low of 1.168% as markets were hoping for an interest rate cut by the European Central Bank (ECB) in a bid to further counteract the prevailing economic crisis in the region. Despite pressure from various quarters, the ECB this afternoon announced that it kept its benchmark interest rate at the 1% level.
  • Shares of BOV were the only movers for the day as the equity gained 0.5% to €2.08 on a single deal of 300 shares. Best bids in the market at €2.07 whilst lowest lowest offers pitched at the €2.09 level. Last Monday the Bank announced the MFSA conclusions with respect to the sales practices adopted by the Bank in connection with the La Valette Multi Manager Property Fund (LVMMPF). Further information can be obtained here.
  • HSBC’s share price unchanged at the €2.50 level after a total of 27,436 shares changed hands across 6 deals. Last week, the Bank announced that its Board of Directors is scheduled to meet on 7 August to consider and approve the Group’s half-yearly financial statements.
  • MIA’s equity was active for the first time this week with a total of 24,900 shares changing hands across 9 deals at the previous closing price of €1.73. Yesterday the airport operator published the traffic results for the month of May. The statistics revealed a record for the month of May of 344,008 passenger movements representing a 5.8% rise compared to the same period last year.
  • GO maintained yesterday’s level of €0.95 after 4,500 shares were executed across 3 deals. Best bids in the market at €0.92 whilst lowest offers now pitched at the €1.00 level which would be a new 2012 high for the equity. Shares of the quad-play operator advanced by 35.7% since it touched an all-time low of €0.70 last month. The turnaround in investors sentiment can be possibly attributed to the Group’s plans to extract value from the property, valued at around €50 million) forming a newly established subsidiary which will be entrusted with the management of the aforementioned property.
  • The other two active equities were those of IHI and RS2 Software. A total of 4,600 IHI shares traded across 2 deals at the €0.90 level with a total of 2,301 shares remaining outstanding at this level. Meanwhile a single trade of 17,000 RS2 shares were exchanged at the €0.50 level with a further 7,000 shares remaining outstanding at this level. The software company is scheduled to hold its Annual General Meeting on Tuesday during which shareholders will be asked to approve the customary resolutions together with the 1 for 15 bonus share issue.
  • Trading on the Malta Stock Exchange will resume on Friday 8 June.

 

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