Positive session lifts MSE Share Index

This morning’s trading session on the Borza saw most of the active equities moving higher with the MSE Share Index advancing by 0.7% to a 1-week high of 3,295.832 points. Most notably, the equity of GO plc continued to trend higher and added a further 0.8% to yet another 6-year high of €2.49 albeit on shallow volumes of 8,100 shares.

Amongst the larger equities by market capitalisation, Bank of Valletta plc inched 0.5% higher to regain the €2.16 level across 20,323 shares. Similarly, International Hotel Investments plc shares partially recovered some of the recent declines with a 3.2% uplift to regain the €0.64 level on a single trade of 11,262 shares.

Positive movements were also registered across the property segment with Malita Investments plc edging 2.8% higher to recapture the €0.55 level on a small deal of 2,000 shares and Tigné Mall plc rising by 1% to the €0.525 level on 3,000 shares. Yesterday afternoon, the company published its interim financial statements showing a 6.7% increase in revenue to €2.46 million and a 39.5% jump in pre-tax profits to €0.95 million. The Directors also declared a net interim dividend of €0.0063 per share but the equity is already trading ex-dividend.

The only other positive performing equity was Malta International Airport plc with a 2.3% increase to regain the €2.25 level also across a single trade of 2,000 shares.

Meanwhile, HSBC Bank Malta plc maintained the €2.00 level on low volumes of 2,038 shares. The Bank is scheduled to effect the interim gross dividend payment (equivalent to €0.045 per share) on 4 September. Also in the financial sector, Middlesea Insurance plc held on to the €0.93 level on just 500.

On the bond market, the Rizzo Farrugia MGS Index advanced for the seventh consecutive session with a further 0.2% increase to 1,076.306 points as Eurozone yields slid to yet another all-time low of 0.868%. This morning’s retreat in benchmark Eurozone yields follows the publication of weak inflation and unemployment data in Germany as well as rising tensions between Russia and Ukraine.