GO regains the €0.95 level

Further demand for GO plc shares lifted the equity of the quad-play telecoms operator by a further 4.4% during this morning’s session to yet another 1-month high of €0.95 across eight trades totalling 35,000 shares. GO’s share price rallied by 11.8% this week ahead of the Board’s decision on whether GO will participate in Forthnet’s €30 million rights issue. This was meant to be issued by the end of the month.

The share price of Middlesea Insurance plc also closed in positive territory today with a further 9.4% rise to regain the €0.755 level on miniscule volumes of 164 shares. The insurance equity ranks as the best performer of the week with a 16.2% weekly jump.

On the other hand, the equity of Lombard Bank Malta plc continued to sink lower as the share price dropped to a new 7-year low of €1.82 across two deals totalling 2,431 shares.

The only other active equity was Malita Investments plc which maintained the €0.51 level across two trades amounting to 10,800 shares.

On the bond market, the Rizzo Farrugia MGS Index edged marginally higher for the fourth consecutive session to reach a new 1-month high of 997.623 points reflecting the further decline in Eurozone yields to the 1.42% level. This week, the local MGS benchmark edged 0.2% higher reflecting the decline in benchmark 10-year German Bund yields from last Friday’s close of 1.60% to the current 1.42% as demand for safe-haven assets was sustained given the uncertainty on Spain’s decision to ask for a bailout. Moreover, bond yields also dropped in anticipation of the outcome of a review of Spain’s credit rating by Moody’s as well as the upcoming round of bank stress tests.