High volumes across various equities

Following the quiet trading session yesterday, a number of equities experienced some high volumes during this morning’s session.

Island Hotels Group Holdings plc dipped by 2.8% to €0.53 on high volumes of 132,880 shares. Later on today, the company is expected to publish its interim results covering the six months ended 30 April 2013. In the previous comparable six months, the Group had registered a loss of €2.4 million reflecting the weak performance in the shoulder months.

Plaza Centres plc’s equity also slipped 1.8% lower during this morning’s session back to the €0.56 level on increased activity of 55,000 shares. Meanwhile, a small deal of 115 Medserv plc shares was executed today at the €3.80 level representing a 2.6% drop from the previous close.

On the other hand, in the banking sector, HSBC Bank Malta plc edged marginally higher to close at the €2.70 level on low volumes of 3,925 shares. Similarly, FIMBank plc edged 0.4% higher to regain the US$1.025 level across 5,000 shares.

The equity of RS2 Software plc also ended this morning’s session in positive territory after recovering from an intra-day low of €1.251. The share price ended 0.8% higher to €1.27 level across 25,787 shares.

Meanwhile, Bank of Valletta plc held on to the €2.27 level on volumes of 45,417 shares and GO plc ended the session unchanged at the €1.53 level after recovering from an intra-day low of €1.499 across 27,907 shares.

Likewise, no changes were registered in the share price of Middlesea Insurance plc with 75,000 shares changing hands at the €0.82 level.

On the bond market, the Rizzo Farrugia MGS Index slid a further 0.1% to yet another 3-month low of 1,015.425 points as the Central Bank of Malta Stockbroker lowered its bid prices for the sixth consecutive time to reflect the rally in Eurozone yields yesterday afternoon. Benchmark 10-year yields in Germany reached a 14-month high of 1.855% on growing concerns in connection with the decision of the US Federal Reserve to start trimming its stimulus measures. Nonetheless, yields this morning eased back to the 1.78% level as some demand for sovereign bonds returned to the market following the sell-off in the prior days.