Equity trading this morning was subdued by the holiday period, with 16 trades for a total value of just over €70,000 registered. The MSE Share Index reached 3,310.904 points, as the large cap banks traded higher, offsetting the 1.9% decline in the share price of Medserv plc, which today closed at the €1.275 level.

Bank of Valletta plc ended the session at €2.121, as 11 deals for a total of 14,888 shares were transacted this morning. Similarly, one trade of 327 shares of HSBC Bank Malta plc caused the Bank’s equity to close higher at the €1.96 level.

No change was registered in the share price of GO plc and RS2 Software plc. Single deals for each of the equities left the share price at the €2.38 (2,500 shares) and €2.60 (200 shares) level respectively. Last week, GO reported an improved performance during the first six months of 2014, largely as a result of an increased client base despite the competitive market environment. GO’s operating profit (before exceptional items) amounted to €11.8 million, an increase of 13.3% over the comparable period in 2013. Pre-tax profits of €8.5 million represent an increase of 3.1% over the first half of 2013.

This week, Lombard Bank plc is expected to announce its interim results for the six months ending 30 June 2014. Meanwhile, Crimsonwing plc will be holding its AGM on Thursday 21 August, during which shareholders will be asked to approve the customary resolutions as well as a special resolution authorizing the Directors to disclose price-sensitive information to a number of potential bidders that have expressed an interest in acquiring a stake in the company.

While Malta was celebrating the Santa Marija public holiday on Friday, the 10-year Bunds benchmark touched the 0.958% mark for the first time on heightened geopolitical tensions in Ukraine. However, earlier on this morning, the benchmark yield advanced to the 0.99% level, as tensions eased on the back of talks between Ukrainian and Russian officials being held in Germany. Consequently, the local Rizzo Farrugia MGS Index edged to another record-high of 1,068.785.

Meanwhile, the Treasury will affect refunds to applicants of the 4.1% MGS 2034 (I) on Tuesday 19 August. This new bond is also expected to commence trading on the Official List later on this week.

 

 

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