High trading activity in MGS persists

The high trading activity in the Malta Government Stock market persisted during the final session of the week as a further €3.75 million (nominal) changed hands today. Most of this activity was executed in the 20-year paper as €2.89 million (nominal) traded in the 5.25% MGS 2030. Total volumes during the week in government paper amounted to €18.3 million (nominal) with 71% of this in the 20-year stocks. Prices edged marginally lower today but the longer-dated stocks closed the week higher.

Meanwhile on the equity market trading activity remain subdued with only €74,389 worth of shares changed hands during this morning’s trading session. The MSE Share Index edged 0.3% higher to 3,395.689 points as HSBC Bank Malta plc rose 0.9% to regain the €2.855 level to close the week unchanged. The Index ended this week 0.5% higher mainly on the back of increases in Bank of Valletta plc (+0.3%) and International Hotel Investments plc (+2.4%).

FIMBank plc also closed higher this week with a 2.1% rise to the US$0.99 level. Yesterday afternoon, the trade finance specialist announced that it has submitted an application to the relevant authorities to issue a new 3-year bond carrying a coupon of 4.25%. Further details available at https://rizzofarrugia.com/news-events/2010/application-for-new-bond-issue-fim08/.

This week’s best performer is MaltaPost plc with a 5.9% jump to its 2010 high of €0.90 across 31,104 shares. The postal operator also currently ranks as the best performing equity year-to-date (+28.6%).

On the other hand, this week’s negative performers were Malta International Airport plc (-1.4%), GO plc (-0.5%) and IHG Holdings (-1%) which is at an all-time low of €0.98 compared to the offer price of €1.00 a year ago.

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