MSE Share Index hits 1-month high

The MSE Share Index trended higher for the fifth consecutive day with a further 0.1% increase to a fresh 1-month high 3,526.200 points despite weak the weak volumes registered in recent local trading sessions.

This morning’s uplift is mainly due to the 1% increase in the share price of GO plc for the equity to regain the €2.00 level on a single trade of 1,000 shares. Yesterday, the quad-play telecoms operator mailed out to shareholders the 2013 Annual Report and all the relevant documentation in connection with the upcoming Annual General Meeting scheduled to be held on 6 May.

Similarly, the equity of Simonds Farsons Cisk plc jumped 2.4% higher to regain its all-time high of €3.00 also on low volumes of 3,570 shares. The Farsons Group is scheduled to publish its accounts for the financial year ended 31 January 2014 on 30 April.

The only other positive performing equity this morning was Island Hotels Group Holdings plc with a 6.3% increase to recapture the €0.85 level on just 1,000 shares.

On the other hand, the share price of MaltaPost plc slumped 8.1% to a new 19-month low of €1.02 on a small deal of 1,000 shares.

Meanwhile, no changes in the share price of the two large banks’ equities. Bank of Valletta plc recovered from an intra-day low of €2.35 to end the session unchanged at the €2.37 level on volumes of just over 14,000 shares ahead of the Bank’s interim results publication on 25 April. Similarly, 36,700 shares of HSBC Bank Malta plc traded unchanged at the €2.38 level.

Amongst the large cap equities, International Hotel Investments plc traded unchanged at the €0.83 level on a single deal of 4,812 shares. The equity is still trading with the entitlement to the net interim dividend of €0.03 per share declared after the sale of 11 out of the 12 apartments in London. The IHI Group is scheduled to publish its 2013 full-year results next Tuesday 22 April.

Single trades also executed in Medserv plc and Crimsonwing plc. Medserv held on to the €1.30 level on just 1,000 shares and Crimsonwing maintained the €0.87 level on a deal of 1,500 shares.

On the bond market, the Rizzo Farrugia MGS Index edged minimally higher to 1,032.946 points for the first time since the data was collected in 2009. This reflects the decline in Eurozone yields to near 11-month lows of 1.488% on indications of further stimulus from the European Central Bank (ECB) as inflation slid to an almost 5-year low and demand for ‘safe-haven’ assets increase in view of the escalating tensions between Ukraine and Russia.