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  • The MSE Share Index reversed this week’s earlier declines with a 0.4% increase to 3,248.32 points as most of the large cap equities ended this morning;s session in positive territory. In contrast to the weak trading activity registered in the previous four days, volumes surged during this morning’s session to reach almost €0.55 million – the highest daily level since the start of the New Year. Download a copy of the Equity Market Summary. Over the week, the local equity benchmark edged 0.2% higher mainly reflecting the gains in the share prices of HSBC, BOV and IHI.
  • On the bond market, the Rizzo Farrugia MGS Index jumped 0.1% to regain the 1,008-points level after eurozone yields slipped back to the 1.62% level. This was in line with the renewed demand for ‘safe-haven’ assets in view of the deepening economic recession across the Eurozone.
  • Locally, this morning the Treasury announced the issue of €200 million in a combination of two new Malta Government Stocks as follows: (i) 3.00% MGS 2019 (III) and (ii) 4.5% MGS 2028 (II) at prices to be determined on Thursday 21 February 2013. Subscriptions open on Monday 25 February and close on Wednesday 27 February for the General Public.
  • The equity of BOV edged 0.9% higher to a new 52-week high of €2.28 on high volumes of 75,157 shares following yesterday’s positive Interim Statement. The Directors explained that the Group registered higher non-interest income and also benefited from fair value gains on the Bank’s investment portfolio as well as lower impairment charges.
  • HSBC shares followed with a 0.7% increase to the €2.74 level across 29,070 shares to also end the week in positive territory ahead of the Bank’s full-year results publication on 4 March.
  • Positive movements were also registered in the large cap equities of IHI and GO albeit on lower volumes. IHI shares inched minimally higher to €0.741 and GO’s share price continued to recover from last Tuesday’s dip with a third successive 0.7% rise to regain the €1.38 level on volumes of 3,500 shares. Both companies have yet to announce the dates of their 2012 results publication.
  • Similarly, the share price of Lombard Bank advanced by 0.5% to regain the €1.89 level across three deals totalling 16,335 shares. The Bank is scheduled to publish its 2012 figures on 14 March.
  • On the other hand, MIA continued to ease lower with another 0.7% drop back to the €1.776 level across seven trades totalling 27,500 shares. The airport operator’s share price currently is 1.3% below its value at the beginning of the year in spite of the further forecasted growth in passengers for 2013.
  • The equity of Grand Harbour Marina (GHM) also eased 1.1% lower to €1.88 level despite an impeding Board Meeting, scheduled to be held on 27 February, for the Directors to consider the payment of an interim dividend. Nonetheless GHM’s equity still ended the week 3.3% higher on high trading activity.
  • The other negative performing equity was 6pm with a 6.5% slide to a new 19-month low of €0.29 across four trades totalling 40,260 shares.
  • Meanwhile, the two other IT equities remained close to their recent highs. 25,000 Crimsonwing shares changed hands at the €0.55 level following yesterday’s Interim Statement which revealed a 19% increase in revenue to €14.9 million during the ten months ended 31 January 2013 as well as higher demand for the Group’s solutions. Similarly, a single deal of 10,667 RS2 Software shares was struck at the €0.86 level.
  • Yesterday’s announcement by MIDI with respect to commencement of works on the residential block known as T17 East also did not alter the Company’s share price as 50,000 shares were exchanged at the €0.26 level.

 

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