MSE Share Index up 2% as large caps gain
The MSE Share Index recovered most of this week’s earlier declines with a two per cent jump during this morning’s session to end the week at 3,325.017 points.
This morning’s upturn in the local equity index was mainly due to the uplift in the share prices of the three large caps. Bank of Valletta plc advanced by 1.3 per cent to regain its 2013 high of €2.30 on increased volumes totalling almost 45,000 shares as the market reacted positively to the record half-year results.
The BOV Group registered a 31.5 per cent increase in pre-tax profits to €64.6 million and the bank declared a gross dividend of 6c per share to shareholders as at close of trading on May 6.
Similarly, HSBC Bank Malta plc’s share price jumped 2.3 per cent to reach the €2.66 level on a single deal of 10,000 shares. The bank is scheduled to pay the recently approved final gross dividend of 7c9 per share tomorrow.
International Hotel Investments plc surged by 6.8 per cent to regain the 79c level but activity was low at 6,874 shares.
GO plc also closed in positive territory with a 0.6 per cent increase to the €1.58 level on volumes of 10,725 shares.
RS2 Software plc recovered some of yesterday’s 5.9 per cent decline. The equity advanced by 4.2 per cent during this morning’s session to recapture the €1 level on low volumes of 5,500 shares.
Earlier this week the company reported a 32.5 per cent increase in pre-tax profits to €3.15 million on the back of a higher incidence of licence sales to new clients as well as increased service fees generated both from new and existing clients.
RS2 also re-instated a final net dividend of 2c5 per share and recommended a one for 16 bonus share issue.
Meanwhile, the only other active equity, Malta International Airport plc, eased 1.1 per cent lower back to the €1.88 level across four trades totalling 2,350 shares.
On the bond market, the Rizzo Farrugia MGS Index rose by a further 0.1 per cent to reach yet another all-time high of 1,022.484 points as Eurozone yields continue to slip closer towards nine-month lows.
Eurozone benchmark yields retreated to the 1.22 per cent level on renewed concerns on whether the new Italian Prime Minister Enrico Letta will manage to form a government and thus end the country’s political impasse.