MSE: High volumes in Government Stocks; buy backs in corporates
For the second consecutive session, high volumes were traded in a number of Malta Government Stocks at the exchange, ahead of the subscription period for the new issues announced earlier this week (Further details on new issues available at...
For the second consecutive session, high volumes were traded in a number of Malta Government Stocks at the exchange, ahead of the subscription period for the new issues announced earlier this week (Further details on new issues available at http://rizzofarrugia.com/news-events/2010/new-stock-issues-mgs09/ ).
Just under €1 million (nominal) changed hands in the 5% MGS 2021 (I) while during yesterday's session a total of €1,032,264 (nominal) of the same stock traded. Meanwhile in the 10-year paper, the 4.6% MGS 2020 (II), a total of €350,200 (nominal) changed hands today. The new Malta Government Stocks will be on offer between Monday 2 and Wednesday 4 August.
In the corporate bond market, over USD125,000 (nominal) traded in the 8% BOV USD 2010. Recently BOV cancelled a total of just over USD1.4 million (nominal) of this bond reducing the outstanding amount to USD35.1 million (nominal).
Bond re-purchases by issuers gathered momentum in recent weeks. Yesterday the Malta Stock Exchange announced that Eden Finance plc bought back and cancelled €577,902 (nominal) of its 6.7% 2010 Bonds while earlier on today, BayStreet Finance plc announced its intention to repurchase and cancel some of its outstanding 8% bonds in conformity with the respective prospectus dated 30 May 2002.
Meanwhile low volumes persisted in the local equity market ahead of the various financial results to be announced shortly. Bank of Valletta plc regained the €3.269 level whilst HSBC Bank Malta plc traded unchanged at €2.99.
GO plc edged marginally higher whilst Middlesea Insurance plc and Medserv plc shed 1.7% and 1.2% respectively. Overall the MSE Share Index closed in positive territory at 3,470.666 points.
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