• The MSE Share Index trended higher for the fourth consecutive session with a further 1% uplift during this morning’s session to a fresh five month of 3,387.666 points on the back of increases in the share prices of International Hotel Investments plc, Island Hotels Group Holdings plc, HSBC Bank Malta plc and Malta International Airport plc. Meanwhile all the other five active equities ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index continued to trend higher with a rise of a further 0.1% to reach yet another all-time high of 1,114.787 points as benchmark 10-year Eurozone yields dipped lower to around the 0.44% level ahead of next Thursday’s meeting of the European Central Bank.
  • The share price of Island Hotels Group Holdings plc (IHG) this morning jumped by 16.5% to the €0.99 level for the first time since late 2013 on volumes totalling 6,000 shares. The rally in the share price results from last Friday’s announcement whereby International Hotel Investments plc (IHI) entered into a conditional agreement to acquire the entire issued share capital of Island Hotels. IHI attributed a net equity value of €50 million to Island Hotels, implying a value of €1.367 per share. IHI are offering €1 per share in cash payable in two tranches of €0.55 on completion of the transaction and €0.45 payable within 12 months from completion, plus an allotment of 0.246 new IHI shares per IHG share held.
  • IHI’s equity also closed in positive territory this morning with a 3.5% rise to regain the €0.59 level after failing to hold on to an intra-day high of €0.60 on total activity of 26,152 shares.
  • Elsewhere, Malta International Airport plc edged up to a fresh all-time high of €2.42 representing a 0.8% increase from last week’s close on low volumes of 1,440 shares. The airport operator is shortly expected to publish its 2014 passenger numbers together with a forecast for 2015.
  • In the banking sector, HSBC Bank Malta plc edged 1.7% higher to recapture the €1.99 level across two deals totalling 7,500 shares. Meanwhile, Bank of Valletta plc held on to the €2.10 level across seventeen trades totalling 30,457 shares.
  • In the property sector, MIDI plc ended the session unchanged at its all-time low of €0.21 across six deals totalling 204,600 shares. On the other hand, the share price of Malita Investments plc reach a fresh all-time high of €0.67 before easing back to end the session unchanged at the €0.652 level on low volumes of 5,000 shares.
  • Insignificant volumes again took place in Santumas Shareholdings plc as a further 18 shares traded at the €2.00 level.
  • The only other active equity was Crimsonwing plc as a single trade of 20,000 shares was executed at the €0.85 level representing no change from the previous closing price. Shareholders have until tomorrow to consider a voluntary bid by KPMG Investments Malta Limited to acquire the entire issued share capital of Crimsonwing at €0.8327 per share.

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