The Share Index advanced by 0.19 per cent to 4,470.277 points today, reflecting the gains registered in the share prices of BOV and HSBC. Meanwhile, only two other equities were active today, with both finishing lower. Once again, trading volumes were very weak.
With today’s upturn, the local equity index posted a weekly gain of 0.10 per cent. Nonetheless, on a monthly basis, the Share Index declined by two per cent, effectively erasing all the gains in the Index registered in June. Furthermore, the monthly drop for July is the sharpest since September 2014.
The most actively traded equity today was Bank of Valletta which climbed by 0.5 per cent to the €2.22 level across 11,552 shares.
Within the same sector, a single deal of just 2,525 shares lifted the equity of HSBC 1.9 per cent higher to regain the €1.60 level. The bank will reveal its interim results on Wednesday.
In contrast, Malta International Airport retreated by 0.7 per cent back to the €4.20 level on 2,000 shares. Recently, MIA upgraded its 2016 year-end traffic results to +7.5 per cent from the original forecast of a 2.4 per cent growth in passenger volumes. MIA’s 2016 interim financial statements will be published on August 17.
GlobalCapital traded for the first time in nearly seven weeks and plunged by 29.9 per cent to the 35c level on a miniscule deal of just 240 shares. This morning GlobalCapital held its annual general meeting.
This morning, GO announced that, within the framework of its sales process to TT ML Limited, Forgendo Limited (the joint venture company between GO and Emirates International Telecommunications (Malta) Limited (EITML)) transferred its entire shareholding in the Greek telecommunications operator Forthnet S.A. to GO and EITML for a nil consideration. This share transfer was part of the conditions for the successful completion of TT ML’s majority take-over of GO.
On the bond market, the RF MGS Index posted its third consecutive decline as it dropped by a further 0.05 per cent to 1,154.915 points. While the 10-year yields of Germany and Italy remained largely flat, that of the Spanish government drifted lower to 1.094 per cent from 1.115 per cent yesterday.
Fresh data showed that Spain's unemployment rate fell to 20 per cent in the three months to June from 21 per cent in the first quarter of the year – beating market expectations of 20.4 per cent.
It is the lowest reading since the third quarter of 2010, aided by new jobs created in the services and tourism industries. Spain still has the second highest unemployment rate in the EU after Greece.
Yesterday, the Treasury unveiled the prices of the two upcoming new Malta Government Stocks. The 1.5 per cent MGS 2022 (IV) FI is being offered at 107.25 per cent (representing a yield to maturity of 0.266 per cent per annum) whilst the price of the longer-dated 2.4 per cent MGS 2041 (I) has been established at 101.75 per cent (giving a yield to maturity of 2.307 per cent per annum).
The total aggregate amount available for subscription is €160 million (including a maximum over-allotment option of €60 million). Subscriptions for the public open on Monday and close on Wednesday, or earlier in the case of over-subscription. Tenders in the form of sealed bids for applications in excess of €100,000 (nominal) will be accepted until noon on August 8.
Refunds of unallocated monies in respect of the recent two new bond issues from MIDI plc and International Hotel Investments were affected today.
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