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  • Yesterday’s rebound in the MSE Share Index was short-lived as the local equity benchmark slumped 0.6% during this morning’s trading session back to a 3-month low of 3,273.709 points reflecting the declines in the share prices of the two large banks. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index gained a further 0.1% to reach yet another all-time high of 1,096.061 points as Eurozone benchmark yields slipped to a new all-time low of 0.695% on hopes of additional non-standard stimulus measures by the European Central Bank (ECB).
  • The share price of Bank of Valletta plc ended this morning’s session 0.5% lower at the €2.23 level after partially recovering from an intra-day low of €2.20 in the last moments of the session. A total of 64,189 shares changed hands today across 11 deals. This week the Bank sent out all the relevant documentation to shareholders in connection with the upcoming Annual General Meeting scheduled to be held on 17 December.
  • Lower volumes were transacted in HSBC Bank Malta plc as the equity slid 2.1% lower to €1.905 on a single trade of 370 shares.
  • Meanwhile, a further 231,204 MIDI plc shares were traded at the equity’s all-time low of €0.21. In its recent Interim Directors’ Statement, the company re-iterated that it will be registering an operating loss for the financial year ended 31 December 2014 but the company will return to profits in 2015 due to the delivery of the 39 new apartments branded Q1. Furthermore, the sales launch of the last residential block on Tigne Point (Q2) comprising 60 apartments and a commercial offering on the ground floor which is currently under construction, is expected during 2015. MIDI also announced that “it has engaged in discussions with a number of prospective investors” for Manoel Island.
  • The only other active equity was Malita Investments plc which held on to its all-time high of €0.61 on a single trade of 2,800 shares.
  • Shortly after the close of today’s trading session, Crimsonwing plc announced that it received a voluntary public takeover bid (cash offer) from KPMG Investments Malta Limited (the Offeror) with the intention of acquiring the entire issued share capital of the company at a price of €0.8327 per share. Shareholders as at close of trading on 28 November 2014 will be receiving an Acceptance Form and a copy of the Offer Document. Acceptances are to be lodged at Rizzo Farrugia & Co (Stockbrokers) Ltd who has been mandated by the Offeror to act as the Manager, Registrar, Collecting and Paying Agent. The acceptance period is between 9 December 2014 and 20 January 2015 (both days included), or as may be extended by the Offeror as provided in the offer document.

 

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