Bonds in focus as volumes shrink in equity market

Investors continued to place increased focus on the fixed income market while trading activity in equities almost came to a halt with few trades effected in Bank of Valletta pls and FIMBank plc this morning. Almost €255,000 worth of corporate bonds and Malta Government Stocks changed hands today compared to activity of a mere €22,599 across the two equities.

On the bond market, Malta Government Stock prices were relatively unchanged today as the benchmark 10-year Eurozone yield remained stable at the 2.39% level. Mixed performances were registered in the active corporate bonds with the most notable change in 6.2% Mizzi Organisation Finance plc 2019 which shed 75 basis points to close at 103.25%.

Mediterranean Bank plc today issued a Formal Notice in connection with a new primary market offering of €15 million bonds. The bonds carry a coupon of 6.25% and will mature on 30 October 2015. Further details on this bond issue and a copy of the Prospectus available at https://rizzofarrugia.com/news-events/2010/details-of-new-bond-issue-medbank01/.

On the equity market, BOV’s share price edged 0.3% higher to regain the €3.23 level across six trades amounting to 6,273 shares while FIMBank slipped back to the US$0.97 level on low volumes of 3,100 shares.

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