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  • The MSE Share Index rebounded into positive territory with a 0.2% increase to 4,426.303 points largely due to the 2% increase in the share price of Bank of Valletta plc, which reached a 6-week high of €2.345 on volumes of 28,290 shares. The Bank’s shares will trade with the entitlement to the 1 for 12 bonus share issue until 13 January 2016 and will turn ex-bonus from the following trading day. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index eased 0.1% lower to 1,134.827 points as the benchmark 10-year German Bund yield edged up to the 0.61% level – just above last Wednesday’s morning level of 0.60%. Nonetheless, yields across the Eurozone remain under pressure given the further decline in the oil price which in turn is escalating inflation concerns.
  • Trading in the recently-listed 3.5% BOV 2030 subordinated bonds commenced last Wednesday. The Series 1 issue failed to hold on to last week’s level of 105% as it slipped back to the 104.50% level during this morning’s session. Meanwhile, the Series 2 issue traded for the first time this morning with the price immediately reaching the 103.99% level.
  • The share price of Malta Properties Company plc also trended higher with a 6.2% jump to regain the €0.50 level across four deals totalling 100,100 shares.
  • Similarly, the equity of MIDI plc edged up 1.1% to €0.364 across 36,000 shares.
  • The only other positive performing equity was 6pm Holdings plc with a 1.5% uplift to GBP0.70 albeit on shallow volumes of 4,127 shares.
  • On the other hand, the equity of HSBC Bank Malta plc shed 0.9% to the €1.745 level on just over 9,903 shares.
  • The share price of Lombard Bank Malta plc also drifted 0.2% lower back to the €2.48 level on substantial volumes of 201,702 shares.
  • International Hotel Investments plc also trended in negative territory today with a 1.3% drop back to the €0.76 level on volumes of 14,191 shares.
  • Meanwhile, GO plc maintained the €3.00 level across two deals totalling just 1,994 shares.
  • Also, Malta International Airport plc held on to the €4.00 level on low volumes of 6,150 shares.
  • Last week, Medserv plc (the equity was inactive during this morning’s session) announced that it was granted approval by the Listing Authority for a €30 million unsecured bond issue due in 2026 (in a combination of USD bonds at a coupon of 5.75% and EUR bonds at a coupon of 4.5%) as well as a €15 million rights issue at a price of €1.50 each. Indeed, shareholders as at the close of trading last Wednesday 23 December are entitled to the rights issue of 2 new shares for every 9 shares held. Medserv will be mainly using these funds to acquire the METS Group.
  • The final two trading sessions of 2015 will take place tomorrow and Wednesday. Trading will then resume on Monday 4 January 2016.

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