Friday’s trading session on the Malta Stock Exchange was characterised by a recovery in the shares prices of the two large retail banks and MaltaPost plc which helped the MSE Share Index recover from yesterday’s eight-month low.
The local equity benchmark advanced by 0.4 per cent today to 3,392.761 points but still closed the week 0.4 per cent lower as a result of the losses sustained in a number of equities in the early part of the week.
Bank of Valletta plc edged 0.5 per cent higher to €2.13 on continued low trading activity of 7,252 shares. BOV ended the week with a decline of 0.5 per cent.
Meanwhile, HSBC Bank Malta plc increased by one per cent today to regain the €2.11 level and end the week marginally above last Friday’s close. In the banking sector, Lombard Bank Malta plc closed 0.8 per cent above its adjust post bonus price as 1,500 shares traded at €1.45.
The equity of MaltaPost plc managed to recover completely from yesterday’s 8.9 per cent drop back to its 2014 low of €1.02.
Fresh demand entered the market this morning helping the equity regain the €1.12 level on total volumes of 13,767 shares. Earlier this month, MaltaPost published its interim results showing a 21.3 per cent increase in pre-tax profits to €1.2 million (the highest level in the last three years). MaltaPost had stated that the company remains on the lookout for new opportunities that add further value to its product offering.
Three other equities closed the day unchanged. GO plc held on to the €1.94 level on volumes of 4,200 shares and Malta International Airport plc failed to recover from the losses in mid-week as it closed at €2.20 representing a 3.5 per cent decline this week.
High trading activity took place in Tigne Mall plc with 383,000 shares changing hands at the 52c level. Tigne Mall will be convening its annual general meeting next month and the company will subsequently pay its maiden dividend to all shareholders.
Another two equities ended the day lower, namely International Hotel Investments plc (-0.25 per cent to 79c8) and Medserv plc (-2.3 per cent to €1.27).
On the bond market, the Rizzo Farrugia MGS Index edged minimally lower to 1,039.836 points as a number of the long-term MGS prices declined in response to the slight recovery in Eurozone yields to the 1.37 per cent level.
Yesterday, the Treasury established the price of the 4.3 per cent MGS 2033 (I) at 100.75 per cent (YTM: 4.242 per cent). The total aggregate amount on offer is of €100 million subject to an over-allotment option of up to a further €80 million.
The public has the possibility of applying in this issue in multiples of €100 and up to a maximum amount of €100,000 (nominal) per application.
For applications in excess of €100,100 (nominal), a tendering process applies.
Subscriptions for the public open on Monday and close on Wednesday while tenders in the form of sealed bids will be accepted until noon on June 9.
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