GO share price up for third successive session

Further bids for GO plc shares helped the equity rise for the third consecutive session to reach a 5-month high of €1.15 across eight trades totalling 35,661 shares. Following the 25.3% jump registered during the three month period from September to November 2012, the telecoms quad-play operator rose a further 8% during the first part of December although investors are still waiting a decision on behalf of GO’s board of Directors on whether the Company will participate in the upcoming €30 million rights issue of Forthnet. On their part, GO’s Directors declared that a decision will only be taken once the related prospectus is issued.

Marginal movements were registered in the share price of Lombard Bank Malta plc as it eased 0.3% back to the €1.86 level on low volumes of 6,725 shares and in MIDI plc’s equity which edged 1.9% higher to €0.275 on a small deal of 620 shares.

No other changes were reported during this morning’s session across the other eight active equities. Most notably, the shares of Bank of Valletta plc held on to the €2.35 level across eleven trades totalling 51,100 shares. Similarly, HSBC Bank Malta plc maintained the €2.67 level on volumes of just over 10,000 shares. This morning HSBC announced that its Board of Directors is scheduled to meet on 4 March 2013 to consider and approve the Group’s 2012 financial statements as well as to consider the recommendation of a final dividend.

The share price of Malta International Airport plc failed to hold on to its 2012 high of €1.80 to close unchanged at the €1.795 level despite the recent announcement of new routes. Ryanair revealed three new routes as from April 2013 to Gothenburg, Liverpool and Milan (raising its total number of routes to and from Malta to 30) whilst airBaltic (a new customer for MIA) will start operating a new route to Riga in the summer of 2013. A total of 28,300 shares changed hands today with bids in the market at €1.76 whilst lowest offers pitched at the €1.80 level.

On the bond market, the Rizzo Farrugia MGS Index eased fractionally lower to 1,002.160 points as the benchmark 10-year German Bund yields rose for the seventh consecutive session to 1.39% on increasing optimism that the US will clinch a deal on the budget measures necessary to avoid the fiscal cliff.