MSE Share Index up 0.6% as 4 equities rise

The MSE Share Index recovered from its 2-day negative performance, as it edged 0.6% higher to 3,374.883 points as four equities closed higher.

Bank of Valletta plc advanced by 1% to the €2.10 level on volumes of 18,236 shares with Lombard Bank Malta plc jumping 13.33% higher to the €1.70 level over a single trade of only 580 shares. Lombard’s interim results will be published on 20 August.

RS2 Software plc and Simonds Farsons Cisk plc were the other two positive performers today. The equity of the IT company continued to advance on high volumes with a total of 81,999 shares changing hands today. The share price edged 1.6% higher to the €2.59 level. Trading activity in the equity of Farsons was weak with only 1,400 shares exchanged across 2 trades at the €2.87 level, representing a 0.7% rise from yesterday’s close.

The only equity which closed the session lower was HSBC Bank Malta plc with the share price easing to a fresh multi-year low of €2.00 on high volumes totalling 65,616 shares. HSBC’s interim results will be published next Monday 4 August.

Meanwhile, four equities closed this morning’s session unchanged. GO plc was the most active with 26,000 shares traded and the share price closing at the €2.38 level.

Similarly, a single trade of 20,000 shares took place in the equity of Tigne Mall plc at the €0.515 level. Middlesea Insurance plc and Malita Investment plc maintained the €0.87 level (1,824 shares) and the €0.55 level (9,500 shares) respectively. The market awaits the interim financial results of the company for the 6 months ended 30 June 2014 following the Board of Directors meeting which took place yesterday.

Malta International Airport plc should also be publishing their June 2014 interim financial statements later on this afternoon.

On the bond market, the Rizzo Farrugia MGS Index edged minimally higher to yet another record level of 1,061.380 points after Eurozone yields dropped to their lowest level ever of 1.11% yesterday afternoon. Yields recovered marginally to 1.124% this morning. Although the markets are today expecting positive economic news from the US, the sanctions on Russian energy, financial and defence sectors continued to negatively impact investor sentiment.