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  • MSE Share Index back into positive territory with a marginal increase to 2,994.711 points as IHI’s 4% jump offsets the decline in most of the other active equities. Download a copy of the Equity Market Summary.
  • The financial reporting season is due to commence next week with the publication of the full-year results by Island Hotels Group Holdings plc (23 February), HSBC Bank Malta plc (24 February) and Middlesea Insurance plc (28 February).
  • On the bond market, the Rizzo Farrugia MGS Index edged by a further 0.1% higher today as the Central Bank of Malta increased the indicative bid prices of most of the Malta Government Stocks. Following yesterday’s listing of the institutional tranches of the 3 new Malta Government Stocks, the Central Bank issued an indicative bid price of the 4.30% MGS 2022 for the first time. The price was established at 100.41% compared to the recent offer price of 100%.
  • This afternoon, Corinthia Finance plc announced that it has submitted an application to the Listing Authority with respect to a new issue of €7.5 million bonds maturing between 2019 and 2022. The announcement also revealed that the proceeds will be mainly used to partly finance the redemption of the existing €14.6 million 6.75% Corinthia Finance Bonds which are due for redemption on 8 April. The new bond will be issued and traded in lots of €1,000 subject to a minimum of €10,000.
  • IHI’s share price advances by 4% to the €0.78 level on high volumes of over 100,000 shares. Yesterday, IHI announced that it completed the acquisition of Marina San Gorg Limited which fully owns the 200-room Marina Hotel in St. George’s Bay, St. Julian’s. However, the announcement failed to reveal the total consideration paid for Marina San Gorg Limited which was previously owned by IHI’s majority shareholder, Corinthia Palace Hotel Company Limited.
  • BOV’s equity eased 1.4% lower to close at the €2.18 level across twelve trades totalling 16,454 shares. Highest bids now placed at the €2.17 level with lowest offers at €2.19.
  • Meanwhile HSBC closed unchanged at the €2.55 level across three trades amounting to 4,235 shares. Few other bids unsatisfied at the closing price with lowest offers placed at the €2.60 level. The Bank is scheduled to publish its 2011 full-year results on 24 February.
  • GO’s share price tumbles a further 5.2% to a new all-time low of €0.832 on volumes of 12,110 shares. The Greek company Forthnet has not yet issued an announcement following the failure to conclude a €30 million rights issue during last month’s Extraordinary General Meeting.
  • MIA’s share price also in negative territory today as it eased 1.7% lower to €1.72 on volumes of 13,512 shares. This morning, MIA issued a press release stating that it has been ranked as the top airport in Europe across all categories for 2011 in the annual ACI Airport Service Quality (ASQ) passenger survey for the second consecutive year. The airport operator is scheduled to publish its 2011 full-year results on 22 March.
  • On the IT front, Crimsonwing’s equity slumped a further 11.1% to yet another all-time low of €0.16 across five trades amounting to more than 52,800 shares. The IT Company generally publishes an Interim Directors’ Statement in February to update investors on its performance since its half-year end in September.

 

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