The share index ended today’s session virtually unchanged at a fresh multi-year high as all equities ended at their previous level except for Farsons. Trading activity picked up from yesterday’s low but still were relatively weak.
Farsons was the only positive performer of the day as it rose marginally to a new all-time high of €5.75,1 on subdued trading.
On Wednesday, the company published its interim financial results which showed that during the period under review, the group registered another positive performance with profits after tax rising by 14 per cent to €4.6 million.
Farsons will be distributing an unchanged net interim dividend of 3c33 per share. This will be paid on October 20 to all shareholders as at close of trading today.
All of the three retail banking shares closed unchanged. Bank of Valletta failed to hold on to its intra-day high of €2.40 for the second successive day and closed at the €2.39 level across 11,879 shares.
This week marked the end of BOV’s financial year. The bank generally publishes its preliminary full-year results by the end of October. Recently, it also announced that it lodged an application with the listing authority for a subordinated debt issuance programme of a maximum of €150 million over the next 12 months. Further details will be issued in the prospectus and final terms once approval is granted.
Also in the banking sector, HSBC and Lombard Bank maintained the €1.81 and €2.15 levels respectively. Volumes were relatively weak across both equities.
Two deals each in International Hotel Investments and Mapfre Middlesea also left the equities unchanged at the 80c and €2.28 levels respectively.
On the bond market, the RF MGS Index advanced by 0.29 per cent to a new six-week high to 1,132.772 points as the benchmark 10-year German Bund yield failed to rebound from the decline seen yesterday afternoon to the 0.56 per cent level.
Reassuring comments made from the President of the European Central Bank Mario Draghi that the Eurozone has become more resilient and growth is picking up were shrugged off as data relating to European producer inflation came out weaker than expected, adding fears to a more vulnerable inflation outlook.
Yesterday, the Treasury established the prices of the two Malta Government Stocks as follows: (i) the two per cent MGS 2020 (V) FI at 106.25 per cent (YTM of 0.714 per cent pa) and (ii) the 2.3 per cent MGS 2029 (II) FI at 102.5 per cent (YTM of 2.09 per cent pa). Subscriptions open on Monday.
Meanwhile, following the publication of a prospectus by Hili Properties in connection with a new €37 million unsecured bond issue at a coupon rate of 4.5 per cent per annum, Hili Ventures Group bondholders have until Monday to submit any applications whilst the subscription period for the public opens on Wednesday.
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