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  • MSE Share Index edged marginally higher to 3,063.572 points as increases in the share prices of GO and BOV offset declines in HSBC, Plaza and MaltaPost. Meanwhile the only other active equity, Medserv, ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher as the Central Bank of Malta raised its bid prices for the medium and long-term government paper. Internationally, German bund yields moved back above the 1.4% level despite further speculation that Spain will require a bailout from the EU after its borrowing costs spiralled to new euro era highs with the benchmark 10-year yield reaching 7.282%, the 12-month yield advanced to 5.074% and 18-month bonds are now yielding 5.107%.
  • Locally, subscriptions for Malta Government Stocks by the general public remain open until tomorrow. The three new MGS issues on offer are the: (i) 3.75% MGS 2017 (IV) at 102%; (ii) 4.3% MGS 2022 (II) FI at 100.25% and (iii) 5.1% MGS 2029 (I) at 101%. Applications by tender for over €100,000 must be submitted by noon on Friday. Further details and copies of the application forms available here.
  • The share price of GO had a somewhat volatile session and touched an intra-day low of €1.135. However, the recent upward trend was sustained as the equity managed to close with a gain of 0.9% to a new 9-month high of €1.18. Volumes remained high with a total of 61,196 shares changing hands during this morning’s session. GO’s equity has advanced by 24.2% (equivalent to €0.23) over the past eight consecutive sessions.
  • BOV also closed in positive territory with a 1% increase to regain the €2.09 level across nine trades totalling just over 13,000 shares. Other offers unsatisfied at the closing price with highest bids placed at €2.08.
  • Meanwhile very low volumes of 339 shares were transacted in HSBC with the share price easing 0.4% lower to the €2.51 level. Best bids in the market at €2.50 and lowest offers at the €2.54 level.
  • MaltaPost’s share price lost 1.6% to a new 20-month low of €0.905 on volumes of 3,161 shares. The downturn in the postal operator’s share price is possibly due to the significant decline in profitability for the first six months of the current financial year ending 30 September 2012 following changes in the tariff structure as regulated by the Universal Postal Union (UPU).
  • Plaza Centres shares also closed in negative territory with a 13% decline to the €0.60 level on a single deal of almost 3,000 shares. The share price of Plaza has been very volatile since the recent share split although the current price of €0.60 represents a 5.8% premium to the theoretical post-split price of €0.57.
  • Medserv’s equity was active for the first time in three weeks as its share price ended the session unchanged at the €3.95 level on two deals totalling 10,595 shares. Further offers remained unsatisfied at the closing price with highest bids in the market at the €3.50 level.

 

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