MSE Share Index maintains positive trend

The MSE Share Index edged a further 0.1% higher to 3,508.381 points – just 10.5 points below its 2013 high. Today’s upturn was mainly due to the 1.5% increase in the share price of Malta International Airport plc to €2.05 across four deals totalling 13,000 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.

GO plc also trended marginally higher to regain the €1.50 level on low volumes of 2,625 shares. The only other positive performing equity was Medserv plc with a 2.1% jump to recapture the €3.37 level on volumes of almost 9,700 shares. This morning, the Company informed shareholders of an Extraordinary General Meeting (EGM) scheduled to be held on 21 November. During the meeting, shareholders will be asked to approve a number of resolutions to re-denominate the nominal value of its shares and subsequently split the shares on a ratio of 2.5 new shares for each old share.

On the other hand, Plaza Centres plc slipped 1.8% lower to €0.56 across three deals totalling 48,000 shares and Malita Investments plc edged 0.8% lower to €0.526 on volumes of 33,300 shares.

Meanwhile, the other seven active equities ended the session unchanged. In the banking sector, Bank of Valletta plc failed to hold on to an intra-day high of €2.52 to end the session unchanged at the €2.50 level across five deals totalling 11,296 shares. The Bank is scheduled to publish its preliminary full-year results tomorrow afternoon.

Similarly, Lombard Bank Malta plc maintained the €1.915 level on a single deal of 2,665 shares and FIMBank plc held on to the US$0.945 level on volumes of 1,200 shares.

A single trade was also executed in International Hotel Investments plc with 15,500 shares changing hands at the €0.85 level representing no change from the previous close.

Elsewhere, RS2 Software plc maintained its all-time high of €2.17 across 21,121 shares and a further 3,226 MaltaPost plc shares changed hands at the €1.05 level.

On the bond market, the Rizzo Farrugia MGS Index once again inched marginally higher to 1,021.223 points which only partially reflects the drop in Eurozone yields to just above the 1.7% level. Yields in Europe declined in anticipation of the US Federal Reserve decision following its monetary policy meeting this afternoon. Investors widely expect the US central bank to maintain its asset purchase programme at USD85 billion a month.

Subscriptions for the new two Malta Government Stocks remain open until this afternoon. 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. The statistics of this issue will be published next Monday afternoon following the deadline of submission of tender offers.