Following the negative start to this week, the share index rebounded during this morning’s session with a 0.1 per cent uplift to 3,744.360 points on the back of increases in the share prices of HSBC and GO.

The equity of HSBC reversed yesterday’s decline with an equivalent 1.5 per cent increase during today’s session to recapture the €2.03 level across six deals totalling 30,878 shares. The bank is scheduled to hold its annual general meeting tomorrow.

Similarly, the share price of GO ended this morning’s session marginally higher at the €2.85 level after rebounding from an intra-day low of €2.80 across a total of 15,000 shares.

On the other hand, Bank of Valletta eased 0.4 per cent lower back to the €2.24,1 level across 12 deals totalling 26,563 shares.

Malta International Airport also performed negatively with a 0.3 per cent drop to €3.50,1 across six deals totalling 15,700 shares.

Meanwhile, MIDI maintained the 29c level on high volumes of 187,800 shares. The company is scheduled to publish its full-year results next Monday.

Likewise, the equity of Lombard Bank Malta ended this morning’s session unchanged at the €1.95 level on volumes of 13,542 shares. The bank is scheduled to hold its annual general meeting tomorrow.

Lombard’s postal subsidiary, MaltaPost, also ended this morning’s session unchanged at its all-time high of €1.45 on just 2,000 shares in anticipation of the company’s interim results publication on May 8.

Plaza Centres held on to 97c5 (just below the equity’s all-time high) as a further 46,928 shares changed hands at this level. The equity of Plaza will trade with the entitlement to the final net dividend of 2c7 per share until Thursday.

The only other active equity was 6pm Holdings with a single trade of 5,000 shares executed at the 76p level – the equity’s all-time high.

On the bond market, the Rizzo Farrugia MGS Index edged 0.2 per cent higher to 1,172.752 points. Benchmark Eurozone yields remained close to all-time lows whilst yields of peripheral countries have continued to trend higher as a new debt deal for Greece is highly unlikely prior to Friday’s meeting of Eurozone finance ministers. The government could run out of cash by the end of April and thus not have enough funds to meet its repayments in the first 12 days of May.

Last week, International Hotel Investments published a prospectus dated April 10 in connection with a new €45 million 5.75 per cent bond issue redeemable in 2025.

IHI will be redeeming its outstanding €35 million 6.25 per cent bonds at the first early redemption date of July 11. As such, IHI will be granting preference to the holders of the maturing bonds as at April 8, to subscribe for the new bonds by surrendering their existing holding.

www.rizzofarrugia.com

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