The MSE Share Index trended higher for the third consecutive session with a further 0.6 per cent increase to 3,333.489 points largely due to the gains in some of the larger equities.
Once again, the share price of Go plc performed positively with a further 3.3 per cent to a fresh four and a half year high of €2.18,5 on increasing activity of 52,430 shares.
The equity of Go rallied in recent days following the statement made by Forthnet SA. The Greek company revealed that OTE SA (the incumbent telecoms operator in Greece) has submitted a non-binding offer to acquire the NOVA pay-tv platform of Forthnet for a consideration ranging between €250 million to €300 million, on a debt free/cash free basis (excluding net debt).
The announcement further explains that the offer is based on certain assumptions and is subject to terms and conditions, customary to such transactions. The board of directors of Forthnet SA noted that it will evaluate the offer and inform the investing public accordingly.
Bank of Valletta plc and International Hotel Investments plc also performed positively. BOV’s equity moved 0.5 per cent higher to regain the €2.05,5 level across 11 deals totalling 25,249 shares while the share price of IHI inched minimally higher to 76c on just 8,600 shares.
The equity of Grand Harbour Marina plc also edged 2.7 per cent higher to recapture the €1.87 level albeit on shallow volumes of 1,000 shares.
Marginal activity took place in Simonds Farsons Cisk plc with the equity reversing last Tuesday’s drop (across only 583 shares) with an equivalent 3.5 per cent rise during this morning’s session to €2.95 on just 333 shares.
On the other hand, the share price of 6pm Holdings plc eased 1.3 per cent back to the 74p level across two deals totalling 2,480 shares.
Meanwhile, no changes were registered in HSBC Bank Malta plc, Lombard Bank Malta plc and Malta International Airport plc. HSBC held on to the €2.04,9 on volumes of 9,318 with lower activity in Lombard (1,000 shares at €1.46,5) and the airport operator (2,712 shares at €2.22).
On the bond market, the Rizzo Farrugia MGS Index eased lower for the first time in the last 11 days with a 0.1 per cent drop to 1,054.984 points as Eurozone yields raced up to the 1.3 per cent level for this time in more than a week.
The uplift in yields was further supported by the decision of the European Central Bank to take no action this month as it still assessing the impact and effectiveness of the stimulus measures announced last month including a 10 basis points reduction in the bank’s refinancing rate.
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