High trading activity across the equity market

This morning’s session was particularly busy considering the mid-summer season with €650,000 worth of trades taking place across the equity market. However, the MSE Share Index declined by 0.6% to 3,286.717 points as the loss in IHI offset the gains in the share prices of GO, HSBC and RS2.

International Hotel Investments plc was the worst performer with a decline of 7% to a new all-time low of €0.65 on activity of 6,203 shares. IHI will be publishing its interim financial statements next week.

On the other hand, RS2 Software plc rallied by 4.6% to the €2.72 level (just below its all-time high of €2.73) on significant trading volumes amounting to 165,891 shares spread across 24 deals. RS2 will also be publishing its interim financial statements next week. Likewise, GO plc traded up to a fresh 6-year high of €2.41 (+0.4%) on increased volumes amounting to 40,125 shares.

HSBC Bank Malta plc was the other positive performer of the day with a 0.5% increase to the €1.95 level on low volumes of 10,166 shares.

Meanwhile, Bank of Valletta plc closed unchanged at €2.11 after recovering from an intra-day low of €2.10 level on increased activity totalling 45,128 shares.

The Rizzo Farrugia MGS Index advanced to a fresh all-time high of 1,069.184 points, as Eurozone yields dipped below the 1% mark once again on escalated geopolitical tensions – this time at the Gaza strip.

The new 4.1% MGS 2034 started trading this morning with the price jumping to a close of 104% representing a premium of 325 basis points over the recent offer price of 100.75%.