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  • Despite the marginal gain in the MSE Share Index today, the index closed the week 0.7% lower at 3,092.984 points. During the week, 7 different equities traded on the Malta Stock exchange. The only positive mover was HSBC while the five equities that declined were Bank of Valletta plc (-0.4% to €2.501), Malta International Airport plc (-6.9% to €1.565), GO plc (-5% to €0.95), FIMBank plc (-3.9% to US$0.74) and MaltaPost plc (-3.1% to €0.95). RS2 software plc closed the week unchanged at €0.59. Download a copy of the Equity Market Summary.
  • Following Thursday’s public holiday, market activity was low during Friday’s trading session. 3 of the 5 active equities today closed higher. GO plc continued to trade at its all-time low of €0.95 and MaltaPost plc shed 2.6% on a single trade of only 204 shares despite still trading with the entitlement to the net dividend of €0.04 per share.
  • The worst performer of the week was Malta International Airport plc as the equity tumbled 6.9%. After dropping by 7.7% on Monday to the €1.55 level a single trade of 316 shares helped the equity minimally recover to €1.565. This week, MIA published its November traffic results showing a marginal increase over the same month last year and it was also announced that Air France will start flying to Malta as from April 2012.
  • GO plc was the second worst performing equity of the week with a 5% drop. GO’s share price continued to trade between its all-time low of €0.95 and the €1.00 level with most trades taking place at €0.95. GO investors are awaiting the outcome of Forthnet’s Extraordinary General Meeting scheduled for next Thursday 15 December. During this EGM, Forthnet’s shareholders will be asked to approve a number of changes to the company’s capital structure and a €30 million rights issue in line with the conditions of the latest €90 million bond loan.
  • The equities of the two major banks closed the week in opposite directions with HSBC advancing by 0.2% to €2.585 while BOV shares declined by 0.4% to €2.501. Next week, Bank of Valletta will be holding its Annual General Meeting on Friday 16 December to approve a number of resolutions including the recommended final gross dividend of €0.08 per share and a 1 for 8 bonus share issue. Shareholders as at close of trading on 9 January 2012 will be eligible to the bonus shares.
  • On the bond market, the Central bank of Malta revised the indicative bid prices sharply higher today following the European Central Bank’s decision to cut interest rates by a further 25 basis points back to the historic low of 1%. The prices quoted by the Central Bank for the 5.20% MGS 2031 (I) rose by 47 basis points today to a record of 102.41%. On the secondary market, the price closed the first week of trading 175 basis points higher at 102.50%.
  • The Rizzo Farrugia MGS Index advanced to 984.217 points reflecting the higher prices of the MGS’s.

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