MSE Share Index approaches 2013 high

The MSE Share Index moved back into positive territory this morning approaching its 2013 high of 3,518.919 points reached on 12 August. The share index jumped 1.9% higher today to 3,504.657 points mainly due to the 13.3% rebound in the share price of International Hotel Investments plc which recaptured the €0.85 level across five deals totalling 23,432 shares.

GO plc also closed higher with the equity advancing by 1% to regain the €1.495 level across four trades totalling 19,164 shares.

Further demand emerged for RS2 Software plc shares as the IT equity edged a further 0.9% higher to yet another all-time high of €2.17 across three trades totalling 22,666 shares.

The equity of Simonds Farsons Cisk plc also ended the session in positive territory with a 1.4% increase to the €2.84 level on volumes of 23,967 shares. Similarly, Lombard Bank Malta plc’s share price edged 0.8% higher to the €1.915 level on shallow volumes of 250 shares.

On the other hand, the share price of Malta International Airport plc slipped by 0.5% to the €2.02 level on a deal of 2,000 shares. Last Friday, MIA’s CEO Markus Klaushofer noted that 3.5 million passenger movements were registered so far this year, equivalent to the same amount registered during the whole of 2012. Mr Klaushofer further added that the first three weeks of October had shown almost identical passenger movements to the busy period in August. Furthermore, he indicated that forward bookings for the shoulder months are also strong.

The shares of 6pm Holdings plc, last active on 17 September 2013, eased 0.8% lower to GBP0.605 on just 3,800 shares. 6pm yesterday inaugurated its new head office and the CEO Ivan Bartolo explained that the Group is well on track to register a GBP9 million revenue figure for 2013 which represents a 25.7% increase over the previous year of GBP7.16 million.

The only other negative performing equity was Plaza Centres plc with a 2.6% decline back to the €0.57 level on a deal of 1,800 shares.

Meanwhile, no change was registered in the share price of Bank of Valletta plc at the €2.50 level after managing to recover from an intra-day low of €2.49 level across five trades totalling 13,295 shares. The Bank is scheduled to publish its preliminary full-year results this Thursday 31 October. Likewise, the share price of HSBC Bank Malta plc ended the session unchanged at the €2.63 level on volumes of 2,800 shares.

A further 40,000 MIDI plc shares changed hands at the €0.255 level.

On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 1,021.042 points as Eurozone yields surpassed the 1.76% level this morning. Investors now await the decision of the US Federal Reserve following the end of its monetary policy meeting tomorrow.

Subscriptions for the new two Malta Government Stocks remain open until tomorrow. The 3% MGS 2019 is being issued at 103.75% giving a yield to maturity of 2.31% per annum with the 4.65% MGS 2032 priced at 100.25% giving a yield to maturity of 4.63% per annum.