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GO’s share price re-tests the €1.60 level

Despite turning ex-dividend only last week, the equity of GO plc has continued to attract demand with the share price touching an intra-day high of €1.60 during this morning’s session.

This level was also reached on April 2 which was the final day to gain entitlement to the net dividend of 10c per share. However, the equity failed to hold on to this level today as it eased towards €1.58, representing a minimal 0.3 per cent increase from yesterday’s closing level.

On the other hand, the share price of Island Hotels Group Holdings plc slid to a new all-time low of 62c5 on weak volumes of 2,000 shares. In its most recent announcement, the group had communicated to the market that it is facing difficulties in raising fresh equity to finance upcoming projects including the development of the Oasis (the ex-Hal Ferh site).

Meanwhile, all other active equities on the Official List of the Malta Stock Exchange ended the session unchanged. In the financial services sector, Bank of Valletta plc again closed unchanged at the €2.25 level across 15 trades totalling 51,973 shares.

Similarly, FIMBank plc held on to the 99USc level across 17,175 shares as investors await for developments with respect to the fresh equity injection by Burgan Bank and United Gulf Bank, both subsidiaries of the Kuwaiti based KIPCO Group. FIMBank’s equity was active for the first time since turning ex-dividend.

Likewise, Middlesea Insurance plc maintained the 90c level on volumes of just over 15,500 shares.

Malta International Airport plc and RS2 Software plc continued to trade at their respective all-time highs. A total of 13,020 MIA shares changed hands at the €1.90 level whilst five trades totalling 18,300 RS2 Software shares were executed at the €1 level.

On the bond market, the Rizzo Farrugia MGS Index eased marginally lower for the first time in eight sessions to 1,020.811 points as benchmark Eurozone yields regained the 1.275 per cent level. The recovery in Bund yields reflects the impact of Japan’s expansionary monetary policy to other markets such as France, Austria, Holland and Belgium.

www.rizzofarrugia.com

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