Stock exchange: Increased activity across 10 equities

During this morning’s session on the Malta Stock Exchange, increased trading activity was evident in the equity market as 10 shares traded.

HSBC Bank Malta plc again performed positively as its share price edged 0.7% higher to close at the €2.85 level. 11,000 shares changed hands today with further bids remaining unsatisfied at the closing price. Meanwhile Bank of Valletta plc eased by 0.1% to drop back to €3.001 on volumes of over 12,600 shares. Various bids remaining unsatisfied at the €3.00 level.

BOV was of the banks selected among 91 European banks upon which the European Union will perform stress tests. The test comprises a ‘what-if analysis’ aimed at assessing the capital adequacy of European banks. This afternoon BOV’s Chairman Mr. Roderick Chalmers stated that he is confident that BOV will pass the test very comfortably.

International Hotel Investments plc dipped to an intra-day low of €0.78 before recovering to a close of €0.80 – unchanged from the previous close. IHI this afternoon published the agenda for the forthcoming Annual General Meeting scheduled to be held on 23 July.

Amongst the extraordinary resolutions, shareholders are being asked to give the Board of Directors the power to issue and allot up to 200 million new shares with a nominal value of €1.00 at any price but not less than the nominal value without first being offered to existing shareholders. IHI’s share price is currently trading at a discount of 20% to the nominal value.

The share price of IT company RS2 Software plc jumped 5.7% to a fresh 2010 high of €0.56 across four trades amounting to 20,000 shares with GO plc recovering by 2.7% to the €1.90 level. Meanwhile Simonds Farsons Cisk plc and Malta International Airport plc closed unchanged at €1.80 and €1.58 respectively.

On the bond market, a further €395,500 (nominal) of the 8% BOV USD 2010 bonds traded with the price closing unchanged at the 101% level. On the primary bond market, submission of applications by preferred applicants of the 7.15% Mediterranean Investments Holdings plc 2015 – 2017 are now closed. The closing date for the pre-placement is tomorrow whilst the general public offering opens next Monday 12 July.

More information is available on www.rizzofarrugia.com