The MSE Share Index edged 1.1 per cent higher to a fresh two-week high of 3,343.592 points largely due to the uplift in the share prices of HSBC Bank Malta plc and GO plc.
The share price of HSBC Bank Malta plc traded 4.2 per cent higher to regain the €2.10 level across 4,594 shares. The bank is expected to publish its June 2014 interim results on August 4.
Further bids emerged for Go plc shares following the recent announcements on the bidding war in Forthnet.
The Greek telecoms operator received a bid from OTE for its pay-tv platform (for a consideration ranging from €250 million to €300 million on a debt and cash free basis) and another joint bid from Vodafone and WIND for the entire company at a price ranging from €1.70 to €1.90 per Forthnet share.
On the local market, a total of 9,730 shares changed hands today with the share price rising by 1.1 per cent to reach the €2.30 level for the first time since late February 2010.
The positive financial information published yesterday by Crimsonwing plc and Middlesea Insurance plc helped the respective share prices rise marginally.
Crimsonwing’s shares edged 1.2 per cent higher to 82c on just 500 shares as yesterday’s full-year results revealed that the group reached its €20 million revenue target and still has a healthy business pipeline going forward.
Furthermore, during the upcoming annual general meeting scheduled to be held on August 21, shareholders will be asked to authorise the directors to share price sensitive information with third-parties interested in acquiring the shares of Crimsonwing.
Similarly, the 27.1 per cent increase in net profit to €3.1 million of Middlesea Insurance during the first six months of 2014 led to a 1.1 per cent increase in the share price to recapture the 88c level across two deals totalling 3,156 shares.
Meanwhile, the only other active equity, Bank of Valletta plc, ended the session unchanged at the €2.07 level on volumes of 22,386 shares.
On the bond market, the Rizzo Farrugia MGS Index marginally retreated to 1,059.061 points despite the further dip in the benchmark Eurozone yields to the €1.15 level – just 2.4 basis points above the all-time low of 1.126 per cent.
Yields remained under pressure as investors sought ‘safe-haven’ assets in view of the prevailing geopolitical tensions in various regions, namely Ukraine-Russia, Israel-Gaza and between different rebel factions in Libya.
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