Bank of Valletta plc’s equity traded higher in the first session following the adjustment to the one for nine bonus share issue.
The share price rose by 1.9 per cent from yesterday’s adjusted closing price of €2.16 (equivalent to the €2.40 pre-bonus price) to €2.20 across 12 trades totalling just over 48,500 shares. The new shares will be issued on Thursday with trading expected to commence shortly afterwards.
Various other equities also traded higher today with the share price of FIMBank plc rising by 12.5 per cent to the US$0.90 level as the equity was active for the first time this year.
14,000 shares traded today with further demand remaining outstanding at US$0.88,5. Also in the financial sector, Middlesea Insurance plc rose by 6.7 per cent to the 80c level on low volumes of 500 shares.
Similarly, GO plc edged a further 1.6 per cent higher to an almost 17-month high of €1.25 on a small deal of 500 shares with further offers remaining unsatisfied at the closing price.
The share price of MaltaPost plc edged higher for the second consecutive session with a further 2.1 per cent increase to a new eight-month high of 96c across 10,000 shares. Further bids for the shares of the postal operator remain unsatisfied at the closing price with lowest offers at the 97c level.
On the other hand, HSBC Bank Malta plc’s share price retreated for the third time in the last four sessions with another 1.4 per cent drop back to the €2.70,2 level on volumes of 15,980 shares.
The negative trend in Island Hotels Group Holdings plc persisted with a further 0.7 per cent decline to a new all-time low of 68c5, representing a 13.3 per cent drop since the start of the year and a 31.5 per cent plunge from its October 2009 IPO price.
Meanwhile on the IT front, all three IT equities ended this morning’s session unchanged. RS2 Software plc held on to its all-time high of 85c across five trades totalling 31,773 shares and Crimsonwing plc closed unchanged at the 55c level on volumes of just over 46,000 shares.
Significantly lower volumes were transacted in 6pm Holdings plc with a single trade of 3,880 shares executed at the £0.31 level.
The upward trend in the local MGS market entered its eight consecutive session with the Rizzo Farrugia MGS Index hitting a new 27-month high of 1,009.525 points as benchmark 10-year German Bund yields again slid lower to just below the 1.52 per cent. Economic data published this morning showed that the German economy contracted by 0.5 per cent in the fourth quarter of 2012 as eurozone’s powerhouse was impacted by the prevailing crisis in the region. This reignited appetite for safe haven assets.
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