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  • Trading activity across the other active equities was subdued with less than €100,000 worth of shares changing hands. The MSE Share Index edged up to 3,240.106 points as gains in IHI offset the declines in HSBC, RS2 and GO. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to reach the 1,100 points level. Late last week, the benchmark bund yields touched fresh all-time lows of 0.63% and yields edged higher this morning to 0.65%. Safe haven assets remained in demand as a result of the significant decline in oil prices in recent weeks which could lead to deflation and concerns over the Greek political scenario. The recently listed 5.1% PTL Holdings plc 2024 bonds advanced by a further 50 basis points to 103.50%.
  • The share price of International Hotel Investments plc advanced by 3.8% to regain the €0.55 level but activity was weak with only 4,650 shares changing hands on lack of further supply in the market. Meanwhile, further bids totalling 27,470 shares remain unsatisfied at the closing price. Support for IHI emerged in recent days following last week’s detailed announcement wherein the Group revealed that it aims to generate €33.8 million in EBITDA during 2014 as the decline in performances in the properties located in Tripoli and St. Petersburg were partially mitigated by record EBITDA results in the properties in Malta, Budapest, Lisbon and London as well as the improving profits in the hotel in Prague. Over the weekend, there was also mention in the local press on the Group’s plans to develop a six-star property in Malta on the site currently occupied by the Corinthia in St George’s Bay as well as the Group’s plans to venture into Rome as well as the US.
  • The share price of HSBC Bank Malta plc slipped 1.1% to close at the €1.88 level across a total of 24,365 shares. Similarly, GO plc shed 1.2% to €2.47 across two trades amounting to a mere 2,905 shares. Very low volumes were also registered in RS2 Software plc with only 130 shares changing hands at the €2.92 level.
  • Meanwhile, Bank of Valletta plc maintained the €2.18 level after recovering from an intra-day low of €2.17 as a total of 14,898 shares changed hands across nine deals. BOV will be holding its Annual General Meeting on Wednesday afternoon.

 

 

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