MSE Share Index at a new 2-year high

The MSE Share Index gained for the second successive session with a further 0.3% rise to just above the 3,380-points level representing a new 2-year high. This latest uplift in the local equity index was again due to a recovery in the share prices of the three retail banks.

Bank of Valletta plc inched minimally higher to close at the €2.253 on just 5,395 shares. Higher volumes traded in HSBC Bank Malta plc with the share price rising 0.9% to regain the €2.66 level across three deals totalling 20,120 shares. Similarly, Lombard Bank Malta plc’s share price climbed by 2.3% to regain the €1.75 level (€1.925 pre-bonus) on volumes of 5,300 shares.

The equity of Simonds Farsons Cisk plc also closed in positive territory during this morning’s session with a 0.8% increase to the €2.59 level – just €0.01 below its all-time high of €2.60. A single trade of 1,500 shares was executed today. Farsons is scheduled to hold its Annual General Meeting on 20 June during which shareholders will be presented with the Group’s vision for the investment property situated on the frontage of the Mriehel site.

On the other hand, MIDI plc eased minimally lower to a new all-time low of €0.249 on just 1,000 shares and Malita Investments plc eased by 2.9% to the €0.51 level.

Meanwhile, the other property related equity listed on the Malta Stock Exchange, namely Plaza Centres plc, ended this morning’s session unchanged at the €0.57 level across a single trade of 2,400 shares. The Company is scheduled to pay its recently approved final gross dividend of €0.038 per share tomorrow.

On the bond market, the Rizzo Farrugia MGS Index eased a further 0.1% to 1.018.68 points as the Central Bank of Malta Stockbroker lowered its prices in line with the support for the benchmark ‘safe-haven’ bunds whose yields remained above the 1.5% level.