Third consecutive increase for MSE Share Index

The MSE Share Index, the benchmark for local equities, closed higher for the third consecutive session with a further 0.3% increase to 3,406.675 points as most of the active equities gained, including the two large banks.

The share price of Bank of Valletta plc touched an intra-day high of €2.15 before easing back to the €2.13 level which still represents a 0.5% increase over the previous closing price. A total of 59,543 shares changed hands today across twenty two deals.

Similarly, the equity of HSBC Bank Malta plc edged 0.5% higher to recapture the €2.11 level across six deals totalling 12,222 shares.

The share price of GO plc regained the €2.00 level (+1.5%) on volumes of 22,671 shares.

The only other positive performing equity was RS2 Software plc with a further 0.4% increase to yet another all-time high of €2.73 albeit on thin volumes of 500 shares. RS2 will be holding its Annual General Meeting tomorrow.

On the other hand, Medserv plc slipped 3.2% back to the €1.20 level on high volumes of 64,200 shares. Similarly, the equities of Simonds Farsons Cisk plc and Tigné Mall plc also closed in negative territory but on shallow volumes.

Meanwhile, no change was registered in the share price of Lombard Bank Malta plc as 2,168 shares changed hands at the €1.45 level. Likewise, Malta International Airport plc held on to the €2.26 level across seven deals totalling 26,500 shares.

On the bond market, the Rizzo Farrugia MGS Index trended higher for the third consecutive session with a further marginal increase to yet another all-time high of 1,042.040 points as Eurozone yields remained under pressure following last week’s stimulus measures announced by the European Central Bank (ECB). Yesterday afternoon, the Treasury announced the allocation policy of the 4.3% MGS 2033 bonds on offer last week. All retail applications up to €100,000 (nom) were accepted in full. The Treasury received over 5,200 applications totalling €150.7 million from the General Public.

Among the corporate bonds, there was increased activity across a number of issues. The newly issued 6% Island Hotels Group Holdings plc 2024 bonds started trading today with a 300 basis point increase to 103% on volumes of €98,000 (nom).