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  • The MSE Share Index opened the week marginally positive at 4,329.044 points as three equities traded higher. However, equity market activity remained low with only €96,700 worth of shares changing hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index eased by 0.06% to 1,135.306 points as the 10-year German Bund yield advanced to a high of 0.58% this morning despite dovish expectations that further monetary stimulus is required by the European Central Bank in order to avert deflationary pressures. The benchmark Bund dropped back to the 0.55% later on this morning ahead of Thursday’s ECB meeting.
  • Following the recent Malta Government Stock issues, the two retail tranches were listed today and trading is expected to commence tomorrow. Today’s indicative bid prices of the Central Bank of Malta for both existing issues were higher than the prices at which they were offered. In fact, the bid price for the 2.00% MGS 2020 issue stood at 106.69% (compared to an offer price of 106.25%) whilst that for the 2.30% MGS 2029 stood at 103.91% (compared to an offer price of 102.50%).
  • Meanwhile, the refunds in connection with the recent Hili Properties plc bond issue are expected by next Wednesday 21 October and trading is expected to commence on Thursday 22 October.
  • Bank of Valletta plc advanced by 0.4% to regain the €2.35 level across 19,787 shares. The Bank is expected to publish its annual preliminary results by the end of next week. Recently, the Bank also announced that it lodged an application with the Listing Authority for a subordinated debt issuance programme of a maximum of €150 million over the next twelve months. Further details will be issued in the Prospectus and Final Terms once approval is granted.
  • Mapfre Middlesea plc and Tigne Mall plc were the two other positive performers of the day with gains of 1.4% and 2.1% respectively. Mapfre closed the day at the €2.20 level whilst Tigne Mall closed at the €0.929 level, both on relatively low volumes.
  • Meanwhile, the declines in the share prices of two of the larger capitalised companies, International Hotel Investments plc and GO plc, almost completely offset the gains from the three positive performers. In fact, IHI dropped 1.3% and closed at the €0.78 level across 5,200 shares. Last week, IHI was the best performing equity of the week, with a 2.4% gain, as the equity maintained the €0.79 level after trading ex-bonus.  IHI has yet to announce when the 3 new shares for every 100 shares held will be allotted to all shareholders.
  • A single deal of just 1,100 shares pushed the equity of GO plc 0.3% lower to the €3.45 lower. Shortly after the close of today’s session, GO declared a net interim dividend of €0.3313 per share, which is the equivalent value of the entire shareholding in its subsidiary company Malta Properties Company plc (MPC). Each GO shareholder as at close of business next Wednesday 21 October will receive one MPC share for every GO share held. MPC shares are expected to be admitted to the Official List of the Malta Stock Exchange on 23 November 2015 and trading is expected to commence the following day.
  • The two other active equities of the day were HSBC Bank Malta plc and Malta International Airport plc with both equities closing unchanged at €1.80 and €3.89 respectively. Trading activity was also low across both equities.

 

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