During this morning’s session, the MSE Share Index recovered most of the declines registered in the previous two sessions following increase in the share prices of Bank of Valletta plc and GO plc. The local equity benchmark edged 0.5% higher today to regain the 3,136.008 points level.
BOV’s shares this morning traded in the range between a high of €2.19 and the day’s low of €2.17 as investors continue to take positions ahead of the Bank’s full-year results publication expected by the end of the month. The Bank’s equity ended this morning’s session at the €2.18 level representing a 1.4% increase from the previous close on volumes of 53,920 shares.
New bids helped GO’s equity reverse most of yesterday’s 7.2% drop with a 5% jump during this morning’s session to regain the €0.945 level across ten trades totalling 50,725 shares. Today, Forthnet issued an announcement relaying a letter it received from its largest shareholder, Forgendo – the joint-venture between GO plc and its parent company EITL. The letter stated that contrary to articles in the media, Forgendo has no intention to sell its 41.27% stake in Forthnet and reiterated its commitment to participate in the upcoming rights issue to maintain its shareholding. Nonetheless, GO’s Directors have not yet decided whether to participate or not pending the publication of the rights issue prospectus.
Meanwhile the other five active equities ended today’s local trading session unchanged. Most notably, after two sessions of inactivity, 6,500 HSBC Bank Malta plc shares changed hands at the €2.70 level.
On the bond market, the Rizzo Farrugia MGS Index moved higher for the first time in five sessions with a 0.1% increase to 996.625 points reflecting the marginal dip in Eurozone yields this morning to 1.48%. However by this afternoon, benchmark 10-year German Bund yields surged to regain the 1.51% as prices of German sovereign paper came under pressure ahead of the upcoming bond auction which outweighed Germany;s attractiveness as a safe-haven country.