The MSE Share Index rounded off a positive week with a fourth consecutive increase to end this shortened week at a two-year high.

The local equity benchmark edged a further 0.2 per cent higher to 3,390.775 points representing a 0.8 per cent increase over the week despite dwindling volumes. A total of €0.47 million changed hands this week representing the lowest weekly volumes this year.

During this morning’s session, Bank of Valletta plc edged 0.7 per cent higher to €2.26,5 across eight trades totalling 34,716 shares. Similarly, new bids helped GO plc recover this week’s earlier losses to climb by two per cent and regain the €1.55 level on low volumes of 2,800 shares.

Simonds Farsons Cisk plc also closed in positive territory today with the equity jumping 2.3 per cent to a new all-time high of €2.65 on a single deal of 500 shares.

One trade was also executed in Grand Harbour Marina plc with 2,000 shares changing hands at the €1.95 level (just below the equity’s 2013 high of €1.98), representing a 5.4 per cent increase over the previous close.

On the other hand, the share price of RS2 Software plc slipped 4.3 per cent back to the €1.11 on low volumes of 2,687 shares. The IT company is scheduled to hold its annual general meeting next Wednesday.

Similarly, Middlesea Insurance plc and Plaza Centres plc eased lower on shallow trading activity. Middlesea shares slid by 3.6 per cent to the 81c level on 400 shares and Plaza declined by 1.8 per cent back to the 56c level on low volumes of 1,275 shares.

Meanwhile, HSBC Bank Malta plc and Lombard Bank Malta plc ended this morning’s session unchanged at the €2.69 and €1.70 level, respectively.

In the small cap segment, Crimsonwing plc also held on to the 58c level across 8,500 shares and MaltaPost plc traded unchanged at the €1.05 level on low volumes of 1,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1 per cent higher to 1,020.489 points as Eurozone yields slipped closer to the 1.5 per cent level on the back of renewed appetite for ‘safe-haven’ bunds in view of the uncertainty on whether the US Federal Reserve will be curbing its quantitative easing program in the near term.

Meanwhile, this afternoon the European Central Bank announced it will be maintaining its main interest rate at a historically low 0.5 per cent given the stabilisation of the Eurozone (as confirmed by recently published data) which should pave the way for the gradual recovery later in 2013 in line with the ECB’s forecasts.

Similarly, the indications of a recovering UK economy led the Bank of England to maintain its benchmark rate at the historically low 0.5 per cent and also keep its stimulus measures unchanged.

www.rizzofarrugia.com

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