GO’s share price advances to a new 8-month high

GO plc’s equity closed in positive territory for the fifth consecutive session with a further 2.8% increase to a new 8-month high of €1.10 across ten trades totalling more than 18,000 shares. The share price of the quad-play telecom operator is heading for a 13.4% weekly increase and currently ranks amongst the best performing equities this year with a year-to-date increase of 12.2%. Following the recovery in recent weeks, GO now ranks as the fifth largest company amongst local equities with a market capitalisation of €111.4 million.

Similarly, Bank of Valletta plc edged 1.4% higher to regain the €2.09 level across activity totalling 23,961 shares. Meanwhile, following two inactive sessions, HSBC Bank Malta plc recovered from an intra-day low of €2.48 to close unchanged at the €2.52 level on volumes of over 17,000 shares. Also in the financial sector, FIMBank plc maintained the US$0.85 level on a single trade of 100,000 shares.

Positive movements were also registered in the share prices of Simonds Farsons Cisk plc and Malta International Airport plc. The equity of Farsons edged 0.3% to a 42-month high of €2.00 on volumes of 24,705 shares. MIA’s share price was pushed minimally higher to its 2012 high of €1.75 across fourteen trades totalling 44,350 shares.

Overall, the MSE Share Index jumped a further 0.4% today to close at 3,065.564 – the highest level since 27 January 2012.

On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 984.382 points as Eurozone yields moved around the 1.50% level this morning. In the international markets, the main development was a further hike in Spanish borrowing costs to a euro-era high of 7%.

Meanwhile, later on this afternoon, the Treasury of Malta is expected to publish the prices of the three new Malta Government Stocks, namely the: (i) 3.75% MGS 2017 (IV); (ii) 4.3% MGS 2022 (II) FI; (iii) 5.1% MGS 2029 (I). Subscriptions for these stocks open next Monday 18 June.