GO shares jump on bid for Forthnet

The MSE Share Index advanced by 0.3% to 3,308.077 points mainly due to the 2.5% uplift in the share price of GO plc to €2.275 on increased volumes of 39,060 shares across eight deals. The increase in GO’s share price can be attributable to the company announcement issued earlier on during today’s session replicating an announcement made by Forthnet. The Greek telecoms operator confirmed that it received a joint bid from Vodafone Greece and Wind Hellas (which own a combined 39.5% in Forthnet) to acquire all Forthnet shares not held by them at a price ranging from €1.70 to €1.90 per share, including the 44.96% owned by GO’s joint venture, Forgendo.

HSBC Bank Malta plc also ended today’s session in positive price territory, as its price increased by 0.25% to close at the €2.015 level on shallow volumes of 200 shares.

Meanwhile, Bank of Valletta plc closed the session unchanged at the €2.07 level on activity of 10,426 shares. Likewise, RS2 Software plc maintained the €2.50 level across 9,000 shares.

Later on today, Crimsonwing plc and Middlesea Insurance plc are expected to publish their full-year results and interim financials respectively.

On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to reach yet another new all-time high of 1,059.408 points as Eurozone yields slipped back to the 1.169% level on weak data for the region. Inflation remained low at 0.5% even during the month of June which keeps the pressure on the European Central Bank (ECB) to introduce further stimulus measures.