MSE Share Index at almost 6-week high

During this morning’s session on the Borza, the MSE Share Index rebounded by 0.7% to an almost 6-week high of 3,391.085 points largely attributable to the 6.9% jump in the share price of International Hotel Investments plc. The equity of the hotel owner and operator regained the €0.76 level on a single trade of just 2,227 shares.

GO plc continued to edge higher with the share price rising by 0.4% to €2.36 – yet another 6-year high. However volumes declined to only 2,000 shares today.

Another two positive performers were Lombard Bank Malta plc and Island Hotels Group Holdings plc. Lombard’s share price edged 2.7% higher to close the session at €1.50 across a single trade of 2,000 shares. Likewise, Island Hotels edged 1.2% higher to regain the €0.82 on weak activity of 3,000 shares.

Bank of Valletta plc was the most active equity this morning with 133,905 shares changing hands across 19 trades. BOV’s share price closed unchanged at €2.10 despite fluctuating between a low of €2.071 and a high of €2.12.

On the other hand, HSBC Bank Malta plc was the only negative performer with a 1.4% decline back to the €2.07 level on volumes of 16,223 shares. HSBC’s interim results will be published on 4 August.

Meanwhile, Malta International Airport plc and RS2 Software plc closed unchanged on low volumes. A total of 1,600 MIA shares changed hands at the €2.30 level with RS2 maintaining this week’s 2% rise as a further 1,000 shares traded unchanged at the €2.55 level.

On the bond market, the Rizzo Farrugia MGS Index retreated by 0.1% to 1,059.075 points as Eurozone yields remained supported at the 1.17% level by the better-than-expected manufacturing and services growth news announced yesterday. Markets were today unaffected by the data on the dip in the German business climate and the geopolitical tensions in various parts of the world.

Yesterday, the Treasury published the prices of the new Malta Government Stocks. The 2.0% MGS 2020 (V) is being issued at 101.75%, whilst the 4.1% MGS 2034 (I) is being issued at 100.75%. The total amount being offered is of €180 million, and subscriptions close on Wednesday 30 July.