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  • Following two consecutive sessions of declines, the MSE Share Index advanced by 0.3% to 3,350.199 points following the positive movements of the share prices of the two large banks. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to yet another all-time high of 1,090.826 points, as Eurozone yields slipped below the 0.9% level for the first time since early September on fresh concerns related to global growth following yesterday’s comments by the International Monetary Fund (IMF) that the world economy is struggling to exit the prevailing cycle of low growth.
  • Today two new bond issues were launched. Hal Mann Vella Group plc published a formal notice in connection with the issue of €30 million 5.0% Secured Bonds 2024 and United Finance plc announced the issue of €8.5 million 5.3% Unsecured Bonds 2023. Further information available from www.rizzofarrugia.com
  • BOV edged 0.4% higher to regain the €2.26 level on volumes of almost 15,100 shares.
  • Similarly, HSBC moved 0.5% higher to €1.99 on a single trade of 4,445 shares.
  • The share price of Island Hotels Group also closed higher with a 3.7% increase to the €0.85 level across 8,000 shares. Recently, the Group announced that its plans for a major refurbishment project at the Radisson Blu in St. Julian’s, as described in the bond Prospectus dated 6 May 2014 and including the construction of further two floors and a complete upgrade of the property, have been postponed until the Company obtains further information on other major real-estate projects taking place in St. George’s Bay and the surrounding area. In the meantime, the Radisson Blu St. Julian’s will still be closed in November for necessary maintenance and other minor works in anticipation of re-opening in the near future.
  • Meanwhile, no change was registered in the share price of Malita Investments at the €0.56 level across two deals totalling 57,000 shares.

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