The positive trend in the MSE Share Index gained momentum during this morning’s session as it rallied by 2% to reach a fresh 4-year high of 3,784.668 points with most active equities once again moving upwards.
Most notably, the share price of Bank of Valletta plc jumped 5.5% to close at the €2.50 level for the first time since January 2008 on volumes of 77,345 shares. Following this ninth successive increase in the bank’s share price, BOV now has an unprecedented market capitalisation of €900 million, making it by far the largest equity on the local equity market which translates into a 24.4% weight in the local equity benchmark.
Similarly, the share price of HSBC Bank Malta plc advanced by 1.5% to regain the €2.03 level across nineteen deals totalling 46,455 shares. Today marked the last day for investors to gain entitlement to the final gross dividend of €0.026 per share. The equity will trade ex-dividend as from the next trading session which will be held on Friday.
Other positive movements were registered across some of the other equities in the financial sector albeit on lower volumes.Lombard Bank Malta plc recovered most of yesterday’s 3% drop with a 2.5% increase during this morning’s session to regain the €1.87 level on a single trade of 10,000 shares. Today also marked the last day for investors to gain entitlement to the final gross dividend of €0.04 per share.
Meanwhile, further bids emerged during this morning’s session to lift the share price of Middlesea Insurance plc by another 6% to reach the €1.125 level for the first time since August 2010 on shallow volumes of 5,200 shares.
Malta International Airport plc advanced by a further 0.5% to reach a fresh all-time high of €3.275 albeit on a single deal of 4,321 shares.
In the property segment, the equity of MIDI plc continued to rebound following last Friday’s announcement revealing on-going discussions with potential strategic investors in connection with the development at Manoel Island. The share price climbed 6% higher to recapture the €0.265 level on high volumes of 137,800 shares.
Santumas Shareholdings plc also moved 1.5% higher to recapture the €2.00 level across five deals totalling 10,252 shares.
Grand Harbour Marina plc rose by 3.3% to a new 18-month high of €1.88 on a trade of 5,000 shares.
In the IT sector, the share price of RS2 Software plc rebounded from an intra-day low of €2.85 to end the session minimally higher at the €2.96 level on volumes of 16,524 shares. Meanwhile, 6pm Holdings plc closed unchanged at the GBP 0.65 level on volumes of 7,874 shares.
On the other hand, the share price of FIMBank plc slipped a further 2.3% to yet another all-time low of USD0.43 on a single deal of 1,347 shares.
Likewise, the equity of MaltaPost plc slipped into negative territory as its share price eased 0.1% lower back to the €1.408 level across two deals totalling 1,879 shares.
On the bond market, the Rizzo Farrugia MGS Index edged minimally higher to 1,143.891 points as Eurozone benchmark yields maintained the 0.27% level this
morning. However, by this afternoon, the 10-year German Bund yields slipped back to the 0.21% level as Germany’s finance minister said time is running out for Greece somewhat contrasting an earlier statement by a German government official that Germany will do what it can to avoid a Grexit.
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