The share price of MaltaPost plc recouped some of this year's 29.1 per cent decline as new bids helped the equity rise by 1.6 per cent to regain the 72c level across three trades totalling 3,200 shares.
The share price advanced shortly after an announcement was issued by the postal operator as well as by its majority shareholder Lombard Bank Malta plc notifying the market that the Bank intends to increase its shareholding in MaltaPost from the current level of 67.72 per cent to not more than 74.5 per cent, representing a maximum amount of 2.2 million shares.
Meanwhile, Lombard's share price remained unchanged at the €1.86 level on a single trade of 50,000 shares.
Likewise, Bank of Valletta plc shares closed unchanged at the €2.30,1 level after failing to hold on to an intra-day high of €2.32 on volumes of 3,900 shares.
The bank is scheduled to publish its full-year results tomorrow. BOV will also be recommending the payment of a final dividend to shareholders.
On the other hand, HSBC Bank Malta plc's share price edged 1.5 per cent higher to regain the €2.76 level also on low volumes of 2,844 shares.
The only other active equity, GO plc maintained the 99c level across 11 trades totalling 18,786 shares.
On the bond market, the Rizzo Farrugia MGS Index edged higher for the first time in four sessions with a 0.1 per cent rise to 994.473 points reflecting today's increase in Eurozone yields.
Benchmark 10-year German Bund yields today surpassed the 1.6 per cent level on the back of improved investor appetite for risk spurred by the strongest UK GDP quarterly growth in five years. In fact, the UK revealed a better-than-forecast one per cent growth in GDP during the third quarter of 2012 fuelled by the increased spending related to the summer Olympic games.
As a result, Britain has moved out of recession. Nonetheless, the UK still has a challenging time ahead especially in view of the looming recession in Europe and the slowdown in China.
This afternoon, the Treasury is expected to publish the prices of the upcoming issue of three new Malta Government Stocks for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €40 million.
The three new stocks are: (i) 3.75 per cent MGS 2017 (IV) (Fungibility Issue); (ii) 4.3 per cent MGS 2022 (II) (Fungibility Issue) and (iii) 4.8 per cent MGS 2028 (I). Subscriptions will open on Monday .
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