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  • Declines in the share prices of the two large banks push the MSE Share Index down a further 0.7% today to a new 1-month low of 3,041.210 points. No other equity was active today reflecting the slowdown in trading activity this week with a total of €261,473 (second lowest this year) worth of shares exchanged during the last five sessions of the week. Download a copy of the Equity Market Summary. The local equity benchmark shed 1.5% this week mainly due to the declines in HSBC, BOV and GO which offset the 6.3% recovery in IHI.
  • On the bond market, the Rizzo Farrugia MGS Index gained a further 0.1% to a new 11-month high of 997.343 points (+0.2% over the week) as eurozone yields dropped below the 1.4% level following disappointing economic data published in China. Exports in China grew by just 1% in July as opposed to the forecasted year-on-year growth of 8.6% reigniting concerns over a slowdown in the global economy. Some of the Malta Government Stocks rose to record levels today with the price of the 5.10% MGS 2029 rising to 103.50% compared to the recent offer price of 101%. Likewise, the indicative bid price of the 5.2% MGS 2031 is of 102.90% is also at a record high compared to its previous high of 102.87% registered on 30 December 2011.
  • On Tuesday, the Malta Stock Exchange confirmed the listing of 30,000,000 shares of Malita Investments plc which were issued in July. Trading in these shares is expected to commence on Monday 13 August.
  • BOV failed to hold on to this week’s earlier gains as it slid 3.3% lower today to the €2.08 level during this morning’s session across fifteen trades totalling 37,876 shares. Following this morning’s decline, BOV’s share price ended the week 1.4% lower on volumes of just over 57,700 shares.
  • Steeper declines were registered in the share price of HSBC which ended the week 6.3% lower at the €2.699 level after turning ex-dividend on Monday. A total of 31,325 shares changed hands this week.
  • GO shares also in negative territory this week with a 1.9% drop back to the €1.02 level across ten trades of more than 42,600 shares. Forthnet, in which GO has a material indirect shareholding, last week postponed an Extraordinary General Meeting (EGM) to 23 August. The Greek telecommunications Group is seeking shareholder approval for a number of changes in its capital structure and a minimum €30 million increase in capital through a rights issue.
  • On the other hand, IHI reversed last week’s 5.9% drop as it regained the €0.85 level during the last five trading sessions on a single trade of 1,000 shares. The equity ended the week 6.3% higher as investors await the Group’s interim results publication.
  • In the small cap sector, MaltaPost plunged 7.9% to a new 2-year low of €0.82 also on low volumes of 546 shares. The equity of the postal operator has slumped 18% year-to-date reflecting the significant downturn in profitability following changes in the tariffs for cross border mail imposed by the Universal Postal Union (UPU).
  • In the coming weeks, nine companies with a December year end, including IHI, Lombard Bank, RS2 Software and Grand Harbour Marina will be publishing their half-year results in accordance with the Listing Rules. However most have not yet announced the date of publication.


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