The MSE Share Index registered its fourth consecutive uplift with a further 1% jump to regain the 3,806.235 points level – the highest closing level since mid-February 2011 – as most large cap equities trended in positive territory.
Bank of Valletta plc advanced by 1.6% to recapture the €2.33 level following last Thursday’s interim results publication which surprisingly revealed a 5.6% improvement in the Bank’s core profitability to €42.9 million and a 15.9% increase in pre-tax profits to €58.8 million. Nonetheless, the Directors declared an unchanged interim gross dividend of €0.039 (net: €0.0254) per share to all shareholders as at the close of trading on 8 May.
Similarly, the share price of HSBC Bank Malta plc rallied 3.2% to a fresh 1-year high of €1.93 across thirteen deals totalling 40,374 shares.
GO plc surged by 2.1% to recapture the €2.90 level on high volumes of 119,818 shares. The telecomms quad-play operator is scheduled to hold its Annual General Meeting tomorrow during which shareholders will be asked to approve a number of resolutions including the recommended final net dividend of €0.07 per share.
Malta International Airport plc shares also closed in positive territory today with the equity moving 0.9% higher to close at the €3.49 level across 6,650 shares. The airport operator is expected to publish its April traffic statistics later on this week.
The only other positive performing equity was Simonds Farsons Cisk plc which jumped by 4.5% to yet another all-time high of €3.50 albeit on shallow volumes of 800 shares. Recently, the Farsons Group published its preliminary financial statements for the year ended 31 January 2015 revealing a 19.8% increase in pre-tax profits to €8.3 million on the back of continued growth across most of its business lines with the exception of its food importation arm. The Directors also recommended a final dividend of €0.0666 per share to all shareholders as at the close of trading on 25 May. Farsons is expected to issue an announcement updating the market in connection with the Farsons Business Park project.
On the other hand, FIMBank plc traded for the first time since it turned ex-bonus and dropped by 1.1% to the USD0.45 level compared to the previous post-bonus closing price of USD0.455 across a trade of 10,000 shares. FIMBank is scheduled to hold its Annual General Meeting this Thursday 7 May.
Meanwhile, International Hotel Investments plc held on to €0.68 level as a further 36,507 shares changed hands
Likewise, Middlesea Insurance plc ended this morning’s session unchanged at the €1.22 level on very low volumes of 208 shares.
On the bond market, the Rizzo Farrugia MGS Index trended in negative territory for the third consecutive session as it retreated by a further 0.3%, back to an almost 6-week low of 1,160.204 points as the benchmark 10-year European yield extended the sharp rebound it registered late last week as it temporarily traded above the 0.4% level for the first time since early March 2015. By this afternoon, the benchmark 10-year yield slipped back to the 0.392% level which still represents a 34.3 basis point increase over its all-time low of 0.049% which it touched on 17 April. The price of the 3% Malta Government Stocks 2040 slumped to 116%
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