Trading activity during this morning’s trading session on the Stock Exchange dropped significantly as only €17,744 worth of shares changed hands – the lowest daily volume this year.

The MSE Share Index reached a new two-week high of 3,240.531 points mainly due to the 0.7 per cent increase in the share price of HSBC Bank Malta plc which regained the €2.70 level on low volumes of 1,000 shares.

Similarly, GO plc’s share price inched minimally higher to reach the €1.33,1 level across two deals totalling 1,100 shares. Plaza Centres plc jumped by 7.1 per cent to regain the 60c level on an insignificant trade of 140 shares.

Meanwhile, MIDI plc’s equity retreated by 1.8 per cent back to the 28c level across three deals amounting to 28,900 shares.

The only other two active equities, Bank of Valletta plc and 6pm Holdings plc, ended the session unchanged. Only 2,200 BOV shares changed hands today at the €2.25 level with further bids unsatisfied at the closing price and lowest offers at the €2.27 level.

The IT equity recovered from an intra-day low of £0.30 to close unchanged at £0.31 also on low volumes of 1,500 shares.

On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 1,007.282 points on minimal changes in the bids prices quoted by the Central Bank of Malta.

Nonetheless, benchmark 10-year Eurozone yields surpassed the 1.7 per cent level for the first time since mid-September 2012 ahead of debt auctions by Italy and Germany.

Italy successfully placed €6.5 billion worth of bonds in a mix of five and 10-year paper. Meanwhile, Germany sold €1.64 billion of 30-year paper at slightly higher yields of 2.5 per cent and lower demand (reflecting the softening demand for safe-haven assets) compared to a similar auction which was held in October last year.

Locally, over €2 million worth of Malta Government Stocks (MGS) changed hands for the second consecutive session ahead of the new offerings taking place this year.

Earlier this week, the Treasury announced that the first issue will be held in late February followed by another one in mid-April.

www.rizzofarrugia.com

 

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