GO extends positive trend

The MSE Share Index edged 0.1% higher during this morning’s session to 3,331.934 points as GO plc extended its recent positive trend. The share price of the telecoms quad-play operator closed higher for the third consecutive session with a further 0.3% increase to the €1.575 level across three trades totalling 10,600 shares.

The only other positive performing equity today was Middlesea Insurance plc with a 4.7% increase to regain its 2013 high of €0.90 on low volumes of 5,000 shares ahead of the dividend cut-off date on 17 April.

Meanwhile, Bank of Valletta plc held on to the €2.25 level on volumes of almost 30,000 shares as the Bank confirmed recent media reports that Mr John Cassar White has been nominated as Chairman of BOV by the Government of Malta. The announcement also revealed that Mr Taddeo Scerri has been selected to replace another Government-appointed Director, namely Dr Gordon Cordina. Both appointments are still subject to regulatory review.

Similarly, HSBC Bank Malta plc held on to the €2.74 level on volumes of 10,695 shares and Lombard Bank Malta plc continued to trade at the equity’s 2013 high of €2.00 across 10,000 shares.

The share price of Malta International Airport plc closed unchanged at the equity’s all-time high of €1.90 on volumes of 9,000 shares on renewed demand following last Friday’s announcement of a 12.3% rise in passenger numbers during March 2013.

On the bond market, the Rizzo Farrugia MGS Index edged higher for the seventh consecutive session with a further 0.1% increase to a new all-time high of 1,021.216 points (data collected since 31 December 2008) in line with the decline in benchmark Eurozone yields to the 1.23% level. The drop in yields was triggered by last Friday’s disappointing jobs data in the US which added to the already existing concerns of weak growth around the globe.