MaltaPost touched the €1.00 level on high volumes

The share price of MaltaPost plc initially traded up to a high of €1.00 during the start of today’s session for the first time since 19 August. However, the postal operator’s equity partially eased back to close at the €0.979 level representing a 2.5% increase over the previous close. Trading activity in MaltaPost shares was high today with just over 40,500 shares changing hands. The postal operator is scheduled to hold its Annual General Meeting on 17 January for shareholders to consider and approve a number of resolutions including the final net dividend of €0.04 per share and the scrip dividend option with an attribution price of €0.98 per share.

Increased trading activity was also recorded in GO plc with 19,600 shares traded. The equity first slumped to a new all-time low of €0.94 before recovering to close unchanged at the €1.00 level. A similar downward trend is evident in the share price of Forthnet which last traded on the Athens Stock Exchange at another all-time low of €0.09 per share. The Greek company recently postponed its Extraordinary General Meeting to 13 January. Forthnet is seeking approval from its shareholders on a number of changes to its capital structure and a €30 million rights issue in line with the conditions of the bank debt restructuring.

Elsewhere in the local equity market, FIMBank plc slumped 9% during this morning’s trading session to a new 2-month low of US$0.70 across two trades totalling 8,500 shares. Meanwhile HSBC Bank Malta plc and Bank of Valletta plc closed unchanged at €2.55 and €2.50 respectively on low volumes.

On the bond market, the Rizzo Farrugia MGS Index moved 0.2% lower to 986.635 points as Eurozone yields regained the 1.93% following the publication of positive data from Germany indicating an improved business confidence for the second consecutive month. It is noteworthy to highlight the €15 million (nominal) that traded in the 4.3% MGS 2016 (IV) during this morning’s session. The trade was executed at 104.37% representing a 34 basis points decline from the previous closing price.