Large cap equities move in different directions

Trading activity during this morning’s session on the Borza mainly took place in the five largest caps with equities moving in different directions.

The share prices of HSBC Bank Malta plc and Bank of Valletta plc both edged 0.7% higher to €2.72 and €2.265 respectively. Volumes across the two banks remained weak today with 11,500 BOV shares and 5,454 HSBC shares changing hands.

Similarly, GO plc’s equity ended 0.3% higher at the €1.335 level after easing from a fresh 18-month high of €1.34 across 6,127 shares. The international media yesterday reported that Forthnet has abandoned merger talks with one of its rival Wind Hellas. Last October, Wind Hellas confirmed that it had submitted an offer to acquire the telecoms division of Forthnet.

Significantly higher volumes were exchanged in International Hotel Investments plc shares as the equity retreated by 2.6% to the €2.74 level on activity in excess of 268,300 shares. Shareholders are still awaiting developments with respect to the sale of the 12 London luxury apartments which the company had indicated will be concluded in first quarter of 2013.

Similarly, Malta International Airport plc eased 0.8% back to the €1.78 level on a single trade of 700 shares.

Simonds Farsons Cisk plc advanced by 1.2% to a new all-time high of €2.58 on very low volumes of 200 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,007.984 points as benchmark 10-year Eurozone yields slid back to the 1.67% level on renewed demand for safe-haven assets. The announcement by the US Federal Reserve to maintain its asset purchase programme at US485 billion until such time as the US job market improves substantially instigated demand for safer haven bonds and equity markets declined.