The share price of Go rallied by 3.5 per cent to close at a fresh multi-year high of €2.68 on increased volumes of 49,254 shares across 21 trades. Go remains the top performer of 2014 with a year-to-date increase of 46.8 per cent.
Medserv also performed positively today with a two per cent increase to the €1.30 level across seven deals totalling 56,300 shares. Medserv’s equity closed the week at a five-month high.
Despite the gains in Go and Medserv, the share index retreated by 0.3 per cent to 3,338.554 points, as the equities of the two large banks closed in negative territory. The share price of Bank of Valletta dropped 1.3 per cent to the €2.23,1 level on shallow volumes of 3,625 shares. The market now awaits the publication of the full-year results due by the end of October.
HSBC Bank Malta plc failed to hold on to the intra-day high of €2 with the equity succumbing to some selling pressure as it closed at the €1.96 level, representing a 1.5 per cent decline from yesterday’s close.
Meanwhile, no change was registered in the share price of Malta International Airport plc, as a single trade of 2,500 shares was executed at the €2.34 level.
On the bond market, the Rizzo Farrugia MGS Index declined marginally to 1,090.698 points.
Benchmark yields recovered partially earlier on today despite rumours that next week the German government will cut its economic growth forecasts for 2014 and 2015.
Earlier this week, the President of the European Central Bank Mario Draghi vowed that the ECB is determined to prevent the eurozone falling into deflation.
However, he warned that monetary policy will not be sufficient for the single currency bloc to resume sustained growth.
Two new bond issues were launched earlier on this week. Hal Mann Vella Group published a formal notice in connection with the issue of €30 million five per cent secured bonds 2024 and United Finance announced the issue of €8.5 million 5.3 per cent unsecured bonds 2023.