Banks marginally recovery amid low volumes

Volumes across the equity market remained low during this morning’s trading session with higher activity in the bond market. The share price of Bank of Valletta plc inched minimally higher to regain the €3.70 level on volumes of just over 13,000 shares. HSBC Bank Malta plc also edged 0.4% up to close at the €2.90 level across eight trades amounting to 7,800 shares. Lowest offers in HSBC are now placed at the €3.00 level.

Meanwhile Middlesea Insurance plc eased 0.2% lower to €1.045 on a single trade of 2,000 shares. The only other active equity was GO plc. Its share price recovered from an intra-day low of €1.87 to close unchanged at the €1.90 level on two deals totalling 2,000 shares. Yesterday, Forthnet announced that Cyrte Investments GP I B.V. executed further open market share acquisitions and now ranks as the second largest shareholder in the Greek telecoms company with a 24.3% stake representing 37,807,737 shares.

On the bond market, the Central Bank of Malta Stockbroker further reduced its Malta Government Stock bid prices as the benchmark 10-year Eurozone yield continued to rise reaching the highest level since last May of 2.81%. A further €214,900 (nominal) traded in the recently issued 5.25% MGS 2030 (I) FIB with the price on the secondary market rising by 75 basis points to 103.85%.

On the corporate bond market, the 6.8% Premier Capital plc 2020 bond climbed 100 basis points to its all-time high of 104% on a single trade of €8,200 (nominal). The 6.25% Mediterranean Bank plc also climbed 50 basis points to a new high of 101% across €62,900 (nominal).

Comments are closed.