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  • The MSE Share Index closed 0.7% lower to 4,307.650 points following the decline in GO’s share price after it traded ex-dividend. Volumes decreased markedly from yesterday to just over €112,000 worth of shares changing hands across only four active equities. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index advanced by 0.21% to 1,136.368 points as the 10-year German Bund yield eased to the 0.57% level as the market awaited developments to emerge from today’s meeting of the Governing Council of the European Central Bank (ECB) which was held in Malta. In parallel, additional data evidenced subdued business confidence in the euro zone’s largest economies – Germany and France. Following the conclusion of the ECB’s meeting, the benchmark Bund fell to the 0.53% level as President Mario Draghi hinted at additional monetary stimulus at its forthcoming December meeting in order to tackle deflationary pressures. The most recent data coming out from the eurozone showed that prices dropped by 0.1% in September – the lowest level since March 2015.
  • Trading commenced in the 4.5% Hili Properties plc 2025 bonds today with the price closing the session at 107% after hitting an intra-day high of 109%. A total of €42,600 (nom) traded.
  • GO plc’s equity had a volatile session after trading ex-dividend. The share price initially dropped to the €3.00 level but recovered to a close of €3.25 which still represents a drop of 8.2% from yesterday’s close. Trading activity amounted to only 8,071 shares. The net interim dividend ‘in kind’ amounted to €0.3313 per share. As such, today’s decline in the share price of €0.29 reflects an improvement of 1.2% compared to yesterday’s close. The shares of Malta Properties Company are expected to be admitted to the Official List of the Malta Stock Exchange on 23 November 2015.
  • Yesterday, GO issued its Interim Directors’ Statement updating the market on its performance up to September 2015. The Directors explained that the positive trends which were registered in the first half of the year continued throughout the third quarter and the Group is anticipating closing the current financial year with increased profitability when compared with the corresponding period last year when pre-tax profits amounted to €20.3 million. With regards to the investment in Greece, GO and its immediate parent, EITML, are continuing to monitor developments closely and will evaluate any potential binding offers for Forthnet accordingly.
  • The three other active equities of the day were Bank of Valletta plc, Malta International Airport plc and Mapfre Middlesea plc. Bank of Valletta plc closed unchanged at the €2.36 level across 25,108 shares. The Bank is expected to publish its annual preliminary results by the end of next week. Moreover, yesterday BOV announced that it obtained approval by the Listing Authority for the admissibility to listing of a Subordinated Debt Issuance Programme. The maximum aggregate principal amount that the Bank may issue is limited to €150 million. Further detailed information will be available in due course.
  • Malta International Airport plc almost recovered yesterday’s entire decline as it closed 1% higher at the €3.85 level across 6,500 shares. Meanwhile, insignificant volumes of 1,200 shares traded in Mapfre Middlesea plc sending the equity 0.5% lower to close at the €2.20 level.
  • Yesterday evening Plaza Centres plc issued its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015. The Directors explained that occupancy levels as at 30 September increased marginally to 94% (30 June 2015: 93%) and improved further in the fourth quarter with the opening of a new fashion outlet. The Directors are expecting the Company’s financial results for the year to be in line with their expectations. In 2014, Plaza had registered a pre-tax profit of €1.5 million.

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