The major highlight in the local equity market this morning was the continued rally in the share price of MaltaPost plc as this share price gained a further 2.8% to close at a new all-time high of €1.10. Only 3,000 shares changed hands today with various bids in the market at around the €1.07 level and an outstanding offer of 1,736 shares at €1.10. MaltaPost’s share price has already advanced by 10% this year.
Volumes declined this morning possibly as the market awaits the publication of the financial results of HSBC Bank Malta plc on Friday afternoon. Bank share price closed unchanged while the declines in International Hotel Investments plc (-3.1%) and Malta International Airport plc (-0.6%) forced the MSE Share Index to close 0.36% lower. The only positive mover of the day was GO plc (+3.1%) but only 1,000 shares traded in this equity.
The highest activity took place in Bank of Valletta plc where a total of 28,814 shares changed hands. The equity closed the day unchanged at €3.05 after touching a low of €3.01. Meanwhile volumes in HSBC declined to only 3,840 shares from yesterday’s level of 107,000 shares. Offers of a further 20,000 shares are placed in the market at the closing price of €3.499 as shareholders eagerly awaits the publication of the 2010 full-year results and the final dividend recommendation due on Friday afternoon.
Subscriptions by the General Public for the two new Malta Government Stocks close this afternoon while tenders will be accepted until next Friday at 12 noon. This morning the eurozone benchmark yield declined sharply to 3.22% and this could be reflected in an upwards adjustment to MGS prices tomorrow morning.