Long-term MGS decline sharply

Prices of longer dated Malta Government Stocks dropped sharply this morning as eurozone benchmark yields recovered following a renewed bout of confidence across international markets as manufacturing data from China and the US was surprisingly strong. The 20-year Malta Government paper suffered the largest decline of 85 basis points to 103.44% across total volumes of just over €1 million.

On the equity market, the MSE Share Index edged a further 0.4% lower to 3,428.556 points. The Index is currently 0.9% below its value at the beginning of the year.

Bank of Valletta plc slumped 2.6% back to the €3.20 level across thirteen trades amounting to almost 12,000 shares. On the other hand, HSBC Bank Malta plc edged 0.7% higher to regain the €2.84 level on low volumes of 1,500 shares.

Malta International Airport plc maintained the €1.58 level on a single trade of 20,000 shares. The only other active equity, Lombard bank Malta plc, also closed unchanged at the €2.80 level on just 890 shares.

Today, the Malta Stock Exchange published a tentative listing calendar for the final quarter of 2010. The calendar indicates that two bond issues, two equity listings and a Malta Government Stock issue will take place between October and December. The value of all five issues is estimated to be around €205 million.

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