The share index advanced by a further 0.59 per cent to reach a six-week high of 4,561.431 points on weak volumes largely driven by the positive performance of BOV and Lombard which outweighed the declines in the share prices of MaltaPost and Tigne’ Mall.
The best performing and most actively traded equity today was Lombard Bank. The share price recaptured the €2.20 level (+5.3 per cent) across 15,681 shares. Lombard will reveal its interim results on August 25.
Within the same segment, Bank of Valletta advanced by two per cent to the €2.24,6 level on volumes totalling 2,874 shares.
Malta Properties Company and GO gained 4.9 per cent and 0.4 per cent to 53c5 and €2.86 respectively on trivial volumes. Eligible GO shareholders have until July 22 to respond to Tunisie Télécom’s voluntary public offer to acquire shares of GO at €2.87 per share.
Tigne’ Mall lost 0.9 per cent to the €1.05 level also on low volumes. Eligible shareholders will receive the recently approved final net dividend of 1c25 per share on July 12.
MaltaPost managed to rebound from an intra-day low of €1.81 (-9.5 per cent) but still closed marginally lower at the €1.99 level on volumes totalling 2,894 shares.
Meanwhile, International Hotel Investments (1,150 shares) and Malta International Airport (1,300 shares) maintained their recent highs of 70c and €4.25 respectively.
This morning, IHI announced that it received regulatory approval for the issuance of a new €55 million four per cent secured bond maturing in 2026. IHI shareholders as at close of trading last Monday will be given preference to subscribe for the first €30 million of the new bonds.
Three deals totalling 6,000 shares left the equity of Medserv at the €1.79 level.
No trades in RS2 Software took place today ahead of the 5:3 share split. The adjusted price based on the last traded price of €3.50 is €2.10.
The RF MGS Index registered its third consecutive gain as today it advanced by a further 0.09 per cent to a fresh 12-week high of 1,156.364 points. The 10-year yields of the two largest euro zone peripheral countries – Italy and Spain – drifted lower today when compared to last Tuesday.
On the economic front, inflation in the euro zone turned positive again in June (+0.1) after four consecutive months below zero. In addition, core inflation, which strips out volatile elements like the prices of oil and food, came in at 0.9 per cent from 0.8 per cent in May.
On Tuesday evening, MIDI announced the issuance of €50 million four per cent secured bonds maturing in 2026. Existing bondholders of the seven per cent £ bonds can transfer their holding into the new four per cent € bonds at a rate of 83p4 per €1.
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