IHI rebound lifts MSE Share Index

Following two consecutive sessions of decline, the MSE Share Index moved back into positive territory today with a 0.8% increase to 3,496.419 points largely due to the rebound in the share price of International Hotel Investments plc. The equity of IHI climbed 5.7% to regain the €0.83 level across six deals totalling 35,340 shares. This follows this morning’s announcement relating to the declaration of a net interim dividend of €0.03 per share (to all shareholders as at the close of trading on Monday 28 April). The announcement also revealed that IHI (through its 50% owned subsidiary NLI Holdings Ltd) managed to sell 11 out of the 12 London apartments for an undisclosed consideration.

The share prices of Crimsonwing plc and Plaza Centres plc also performed positively. A single trade of 9,000 Crimsonwing shares were transacted at a new all-time high of €0.87 representing a 7.5% jump from the previous closing price. Similarly, the equity of Plaza Centres edged 4.2% higher to reach a new 2014 high of €0.625 on healthy volumes of 80,000 shares. The net dividend of €0.0238 per share is payable to those shareholders as at close of trading on Friday 25 April 2014.

On the other hand, the share price of HSBC Bank Malta plc eased by 0.2% back to the €2.38 level across 32,226 shares. The Bank is scheduled to hold its Annual General Meeting next Wednesday 16 April.

Similarly, the equity of Medserv plc retreated by 2.3% back to the €1.30 level on volumes of 65,700 shares as the equity traded ex-dividend.

Meanwhile, no change was registered in the share price of Bank of Valletta plc at the €2.30 level after failing to hold on to an intra-day high of €2.32 across twelve deals totalling 25,900 shares. This afternoon, BOV announced that its Board of Directors is scheduled to meet on Friday 25 April to consider and approve the interim results covering the six months ended 31 March.

The equity of Malta International Airport plc also ended the session unchanged at the €2.32 level after failing to hold on to a new all-time of high of €2.35 across 15,150 shares.

Likewise, GO plc maintained the €1.96 level on low volumes of 2,366 shares.

In the property segment, MIDI plc held on to the €0.24 level on a single trade of 20,000 shares and Tigné Mall plc maintained the €0.525 level on volumes of 50,500 shares.

The only other active equity was Middlesea Insurance plc with 3,586 shares changing hands at the €0.91 level, unchanged from the previous closing price.

On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 1,030.331 points for the first since data was collected in 2009. This reflects the further decline in Eurozone yields to near 2-week lows of 1.534% on increasing speculation that the European Central Bank (ECB) will launch further stimulus measures in the near term.