Daily Market Highlights (20.02.15)

The MSE Share Index continued to advance and edged a further 0.5% higher today to end the week up 1% at 3,458.637 points. Seven of the eight active equities performed positively today. Download a copy of today’s Equity Market Summary.

On the bond market, the Rizzo Farrugia MGS Index eased marginally lower to 1,126.715 points, reflecting the marginal increase in the Eurozone benchmark yields.

Yesterday afternoon, the Treasury established the prices of the 2 new MGS’s as follows: (i) 2.0% MGS 2020 (V) FI at 105.75% for every €100 nominal giving a yield to maturity of 0.937% per annum; (ii) 3.0% MGS 2040 (I) at 100% (par) for every €100 nominal giving a yield to maturity of 3.000% per annum. The offer period for retail investors closes on Wednesday 25 February.

The share price of Plaza Centres plc was again the best performer with an increase of a further 7.3% to €0.85 on volumes of 58,832 shares. Overall, this equity gained 19.7% this week and ranks as best performer so far in 2015. Plaza’s 2014 year-end financial statements will be published on 18 March.

Similarly, Malita Investments plc gained another 3.4% to close at a new high of €0.77 level on low volumes of 5,000 shares. Malita’s financial statements will be published next Thursday 26 February.

In the financial sector, the two retail banks also performed positively today. HSBC Bank Malta plc rose by 1% to regain its €2.02 level across a total of 27,557 shares. Next Monday afternoon, HSBC will be publishing its 2014 financial statements.

The equity of Bank of Valletta plc edged up by 0.5% to a 10-month high of €2.111 amid shallower volumes of 17,223 shares spread across seven deals. In its latest interim statement published on 6 February, BOV explained that it registered a satisfactory rate of growth across all key business lines, maintained the cautious view towards provisioning and registered moderate positive price changes on its investment portfolio. Nonetheless, it was experiencing a weak demand for business lending despite an increase in home loan requests, while customer deposits continued to grow notwithstanding the lower interest rates.

Similarly, Middlesea Insurance plc gained 1% to €1.01 across shallow volumes of 4,398 shares – the highest level since June 2011.

GO plc and Malta International Airport plc both managed a 0.4% gain during today’s session. The telecoms operator closed at the €2.67 level across six deals for a total of 16,000 shares, while the airport operator climbed to another record level of €2.61 level across four deals for a total of 9,000 shares. MIA is expected to publish its 2014 figures on Tuesday 24 February.

Meanwhile, International Hotel Investments plc closed unchanged at the €0.63 level on a single deal of 2,544 shares. Earlier on today, during an Extraordinary General Meeting held by Island Hotels Group Holdings plc, the shareholders of IHG approved a resolution which enables the directors to provide IHI with price-sensitive information that would enable IHI to make a binding offer for the shares in IHG.