Farsons equity unchanged despite turning ex-dividend

The share price of Simonds Farsons Cisk plc continued to be supported at the €2.30 level despite turning ex-dividend today. Fresh demand for shares of the Farsons Group entered the market following last week’s announcement of a 45% increase in net profit to €3.8 million during the six months ended 31 July 2012. A total of 5,886 shares changed hands today with few shares on offer at €2.299 and €2.30. The Farsons Group is scheduled to pay its net interim dividend of €0.0133 per share on 19 October.

GO plc’s equity ended this morning’s session 1% higher at the €0.959 level after recovering from an intra-day low of €0.93 across four trades totalling 17,975 shares. Similarly, International Hotel Investments plc recouped the 2.3% drop at the start of the day to close this morning’s trading session 2.2% higher at the €0.94 level – a new 19-month high.

MaltaPost plc shares also closed in positive territory today as the postal equity continued to recover from some of its recent sharp declines with a further 1.4% increase to regain the €0.71 level. Four trades totalling 30,000 shares changed hands today. Despite today’s recovery, MaltaPost’s equity is still 29% below its value at the beginning of the year.

On the other hand, Bank of Valletta plc failed to hold on to the €2.25 level as it retreated by 2.2% to the €2.20 level on volumes of 9,358 shares. The dip in the Bank’s share price offset the gains in the other equities forcing the MSE Share Index to edge lower for the first time in six sessions. The local equity benchmark eased marginally lower from yesterday’s 10-monht high to close at 3,143.577 points.

The only other active equity, Malita Investments plc, held on to the €0.51 level on a single deal of 2,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged higher for the ninth session in eleven days with a further 0.03% rise to 998.241 points – the highest level since 24 August. This reflects the dip in Eurozone yields to around the 1.45% level given the uncertainty over when Spain will formally request a bailout as well as weak economic data from China and Germany which further dampened the global economic outlook.