The share index trended higher for the third consecutive session as positive movements across most of the large cap equities lifted the local equity benchmark by a further 1.1 per cent during this morning’s session to a fresh five-week high of 3,303.699 points.
In the banking sector, the share price of HSBC advanced by 3.9 per cent to regain the €1.97,5 level across five deals totalling 15,445 shares.
Similarly, Bank of Valletta edged 0.2 per cent higher to recapture the €2.21,5 level on volumes of 15,860 shares. The bank’s equity will continue to trade with the entitlement to the recently approved one for 11 bonus share issue until January 14.
GO also performed positively with the share price ending this morning’s session two per cent higher at the €2.55 level across eight trades totalling 18,455 shares.
Support for the quad-play telecoms operator has resurfaced after last week’s reports in the Greek press that Vodafone and Wind Hellas (which together own almost 40 per cent of Forthnet) are set to launch a binding bid for the remaining shares in Forthnet SA after the Christmas holidays.
Meanwhile, the Greek incumbent OTE is not expected to lodge its bid for Nova (the pay-TV arm of Forthnet) before January, in order to see what political course the country will take after the presidential elections are concluded.
On July 17, Forthnet SA had announced that Vodafone and Wind Hellas Telecommunications SA submitted a joint non-binding indicative proposal to the Board of Directors of Forthnet, for the possible acquisition of all the shares of Forthnet which are not owned by them at a range of €1.70 and €1.90 per Forthnet share.
The only other active equity was Malta International Airport plc as its share price moved 1.3 per cent higher to regain the €2.33 level on a meagre five shares.
On the bond market, the RF MGS Index edged 0.1 per cent higher to a fresh all-time high of 1,102.588 points as Eurozone yields remained under pressure at around the 0.6 per cent level in view of the economic challenges hindering the 18-nation single-currency bloc.
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