The share price of International Hotel Investments plc has been particularly volatile in recent weeks. The equity of the hotel owner and operator jumped 13.1 per cent to 95c on the last trading session of the year but the price slumped 19.3 per cent to the 76c7 level last Monday.
However, this morning a deal of 19,500 shares was struck at the 92c level, representing a 20 per cent jump over the previous closing price. Meanwhile, the market awaits developments on the sale of the twelve London apartments as well as the injection of fresh equity.
The rebound in the share price of IHI offset the four negative performing equities leading to a 2.6 per cent increase in the MSE Share Index to 3,686.388 points.
In the financial sector, Bank of Valletta plc eased minimally lower from its six-year high to €2.69,9 on continued high activity totalling 42,989 shares. The equity will continue to trade with the entitlement to the one for 10 bonus issue until next Tuesday.
Similarly, the share price of FIMBank plc slipped 2.5 per cent back to US96c on low volumes of just over 2,000 shares. Shareholders of FIMBank have until January 20 to accept the offer of Burgan Bank and United Gulf Bank should they wish to sell all or part of their holdings at the price of US95c per share.
Negative movements were also registered in the IT sector. Crimsonwing plc eased from near its all-time high as the equity slipped by 2.3 per cent to the 84c level on a trade of only 4,000 shares.
Likewise, the share price of RS2 Software plc retreated by 0.4 per cent back to the €2.29 level across three deals totalling 6,600 shares.
Meanwhile, HSBC Bank Malta plc held on to the €2.585 level on low volumes of 8,633 shares and GO plc traded unchanged at the €1.86 level also on low volumes of 8,700 shares. Malta International Airport plc also closed unchanged with only 670 shares trading at the €2.18 level.
Similarly, in the property sector, Tigné Mall plc maintained the 51c5 level across 29,000 shares. Likewise, Plaza Centres plc held on to yesterday’s gains as a further 4,000 shares traded at the 60c level.
On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 1,021.053 points as Eurozone yields remained just below the 1.9 per cent level.
Unemployment in the region remained at its highest level of 12.1 per cent which offset the positive data regarding a rebound in retail sales which grew at the fastest pace since November 2001.
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