The share price of Go plc advanced for the fourth consecutive session as further demand emerged for the equity.

The demand follows this week’s announcement by Forthnet revealing 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 explained 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 S.A. noted that it will evaluate the offer and inform the investing public accordingly.

Go’s shares gained a further 0.7 per cent today to close at a fresh four-year high of €2.20 across four deals totalling 12,500 shares.

The only other positive performing equity was Malita Investments plc with a 1.8 per cent increase to a new all-time high of 56c across 8,910 shares.

On the other hand, the two large banking equities eased lower. The share price of Bank of Valletta plc edged 0.2 per cent lower to €2.05 across 15 deals totalling 49,538 shares. Similarly, the equity of HSBC Bank Malta plc shed 0.8 per cent to €2.03,2 on just 373 shares.

Meanwhile, no change was registered in the share price of Middlesea Insurance plc at the 88c level on shallow volumes of 200 shares.

On the bond market, the Rizzo Farrugia MGS Index returned into positive territory with a 0.2 per cent increase to yet another all-time high of 1,056.661 points as Eurozone yields marginally retreated back to 1.265 per cent possibly due to the dovish comments made by the President of the European Central Bank (ECB) Mario Draghi as he reiterated the bank’s commitment to aid the Eurozone’s recovery.

This includes maintaining low interest rates for a prolonged period.

www.rizzofarrugia.com

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