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  • During the final trading session of the week, the MSE Share Index edged a further 0.6% higher to 3,369.651 points on the back of increases in the share prices of BOV, GO, FIMBank and MaltaPost. Meanwhile, HSBC, Malita and RS2 trended marginally lower. Download a copy of the Equity Market Summary. Over the week, the local equity benchmark rose by 0.9% mainly due to the weekly gains in most of the large cap equities.
  • On the bond market, the Rizzo Farrugia MGS Index ended the week 0.4% lower (the first weekly decline in the last nine weeks) at 1,021.713 points. This week’s decline reflects the recovery in Eurozone yields to a one-month high of 1.32% on the back of increased investor risk appetite.
  • The equity of BOV continued to recoup some of last Wednesday’s 6% drop. Following yesterday’s 2.4% increase, the share price advanced by a further 2.7% during this morning’s session to regain the €2.21 level across ten trades totalling 23,541 shares. Over the week, BOV’s share price slipped 3.3% lower largely reflecting the adjustment for turning ex-dividend with respect to the net interim dividend of €0.039 per share. The interim dividend will now be paid on 24 May.
  • GO also edged higher for the second consecutive session with a further 0.6% increase to the €1.59 level across four trades totalling 8,000 shares ending the week unchanged. GO issued its Interim Statement this week in which it explained that it continued to experience downward pressure on its ‘average revenue per user’ (ARPU) levels due to the intense competition present in the local telecommunications market. As a result, profitability during the first quarter of 2013 is marginally below that registered during the same period last year.
  • MaltaPost gained another 0.5% to reach a new 2-year high of €1.06 on volumes of 10,000 shares. The postal operator this week revealed a 30.9% increase in net profits during the six months ended 31 March 2013 to €0.66 million on the back of the increased tariffs on certain postal services. Moreover, the Directors explained that the financials should show a further improvement in the second half of the financial year ending 30 September 2013 due to the introduction of higher postal tariffs on other services with effect from 1 April 2013. Meanwhile, the postal operator is also working to diversify its revenue streams through the introduction of enhanced e-commerce services, expansion of its document management services as well as entering the insurance market once the regulatory approvals are granted.
  • A single trade of 1,700 FIMBank shares lifted the equity 1.9% higher to the US$1.02 level.
  • On the other hand, HSBC slipped 0.4% lower back to the €2.68 level on a trade of 5,500 shares. However, the Bank’s equity still ended the week 3% higher in anticipation of the publication of its interim Directors’ statement.
  • Malita shares slid 1.7% lower to end the week at the €0.52 level which still represents a 4% weekly rise.
  • Similarly, RS2 shares inched minimally lower to €1.039 on volumes of 1,500 shares but still registered a weekly uplift of 8.2% despite turning ex-dividend and ex-bonus.

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