MaltaPost at new all-time high of €1.00

MaltaPost’s share price climbed 5.3% today to close at a new all-time high of €1.00. This equity has now also surpassed Malta International Airport plc as the top performer of 2010. MaltaPost’s share price has rallied by 42.9% this year followed by MIA also with strong gains of 36.7%. Next week the postal operator will report on its financial performance for the 12-months ended 30 September 2010 and the Directors of MaltaPost are also expected to recommend the payment of a dividend which will then be approved at the forthcoming Annual General Meeting.

This morning, the equity market continued to move higher with the MSE Share Index gaining a further 0.76% to 3,753.802 points. 6 of the 8 active equities closed in positive territory with gains registered again in all three of the large caps. Bank of Valletta plc and International Hotel Investments plc closed at new 2010 highs for the second successive day.

Although BOV only closed minimally higher at €3.829, the equity traded at an intra-day high of €3.86 today on further demand for these shares ahead of the upcoming 1 for 5 bonus share issue to those shareholders as at Friday 7 January 2011. Meanwhile IHI advanced by a further 2.7% to €0.945 on volumes of 20,000 shares.

The most actively traded equity of the day was HSBC Bank Malta plc. Over 34,500 HSBC shares traded with the equity rising by a further 0.8% to €3.20. The other positive performers of the day were GO plc (+0.3% to €1.935) and Island Hotels Group Holdings plc (+5.6% to €0.95).

On the other hand Medserv plc and Malta International Airport plc closed the day lower. Following the high volumes traded in the early part of last week, a further 14,500 Medserv shares changed hands today with the share price shedding 0.5% to €4.25. The share price of the airport operator closed 0.6% lower at €1.64 on two trades totalling 16,800 shares. Further bids amounting to 4,700 shares remain unsatisfied at this level with lowest offers of 7,831 shares at €1.66.

On the bond market, the Rizzo Farrugia MGS Index edged minimally lower to 991.735 points. The market price of the 5.25% MGS 2030 gained a further 19 basis points to 102.99% on volumes of €109,000 (nominal). Few trades were effected in corporate bonds mainly on lack of offers in the market.

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