The share index surpassed the 4,500 points level and added 0.18 per cent today to 4,503.598 points as all active equities closed flat with the exception of BOV. Total trading activity dropped to a mere €181,000.
Bank of Valletta advanced by 0.9 per cent to the €2.23,9 level across 26,109 shares.
Meanwhile, 10 other equites traded unchanged. In the banking sector, FIMBank (2,000 shares) and HSBC (3,000 shares) closed at 63cUS and €1.79 respectively. HSBC is expected to announce its 2015 full year results on February 22. The directors will also consider recommending a final dividend for approval at the upcoming annual general meeting on April 15.
Malta International Airport touched a new all-time high of €4.40 but still closed unchanged at the €4.35,1 level across 3,400 shares. The company will be publishing its 2015 financial results on February 24. The board of directors will also be considering the payment of a final dividend.
Four deals totalling 16,660 shares left the equity of GO flat at the €3.15 level. Last Wednesday, the quad-play operator announced that it exercised its option of increasing its stake in the Cypriot telecoms company Cablenet from the current level of 25 per cent to 51 per cent.
Commenting on the transaction, GO’s chairman stated that Cablenet continues to perform strongly, delivering steady, double-digit growth in both revenue and EBITDA over recent years. The chairman also stated that the company offers significant potential for GO.
In the property sector, MIDI held on to the 35c level on volumes of 27,000 shares and Malita maintained the 95c level across two trades totalling 15,000 shares. Malta Properties Company failed to recover from yesterday’s decline as only 1,100 shares traded at 54c.
MaltaPost (8,000 shares) and 6PM Holdings (1,784 shares) maintained the €1.92 and 70p levels respectively.
Similarly, a further 4,724 Medserv shares traded at €1.68. The Lapsed Rights Offer period will close tomorrow. A total of 3.5 million shares are available for subscription during the auction process at a minimum bid price of €1.50.
Recently, the oil and gas logistics company unveiled that it was awarded two full service logistics contracts offshore Libya having an estimated value of between of €2 to €3 million. These are expected to commence in the second quarter of 2016 and will require Medserv to utilise both their Malta Base facilities and their Libyan Branch.
On the bond market, the RF MGS Index advanced to a six-week high of 1,141.462 points (+0.19 per cent) as the 10-year benchmark German Bund yield slipped from 0.48 per cent to 0.45 per cent today.
Global stock markets resumed their decline as the price of oil dropped once again, mirroring concerns about weak future global growth prospects. Against this backdrop, eurozone bond markets are anticipating further European Central Bank monetary stimulus at its next policy meeting to be held in early March.
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