The share index opened the week slightly in the red as it eased by a minimal 0.04 per cent to 4,423.452 points. Trading was restricted to just six shares.
Four closed the day unchanged whilst BOV and Plaza Centres plc moved in opposite directions, with the former retreating by 0.2 per cent whilst the latter regaining its all-time high.
Most of today’s trading activity was centred around Bank of Valletta which retreated back to the €2.22,5 level (-0.2 per cent) on volumes totalling 50,035 shares having a market value of €0.11 million – representing nearly 70 per cent of the total value of equities traded today.
Last Thursday, BOV announced that it acquired the 40 per cent shareholding that Insight Investment Management Limited held in Valletta Fund Management Limited (VFM) for a total consideration of €5 million. As a result, BOV is now the sole shareholder of VFM.
Within the same segment, HSBC maintained the €1.56 level across 4,982 shares. The recently declared gross interim dividend of 7c1 per share (net: 4c62) will be paid on September 9.
Also among the large companies, a single deal of just 1,006 shares left the equity of Malta International Airport unchanged at the €4.25 level.
Last Wednesday, MIA revealed an upbeat performance for the six-month period ended June 30. The directors declared an unchanged gross interim dividend of 4c62 (net: 3c) per share. The equity turns ex-dividend tomorrow.
Likewise, RS2 Software maintained the €1.85 on two trades totalling 4,200 shares.
MIDI also closed flat today at it retained the 36c5 level across 27,400 shares. The company is due to publish its interim results on August 31.
Meanwhile, a deal of 18,650 shares pushed the equity of Plaza Centres up by 1.9 per cent to its all-time high of €1.10. On Wednesday, Plaza is expected to publish its prospectus with respect to its €8.5 million 3.9 per cent unsecured bond issue redeemable in 2026.
Plaza had announced that it had received regulatory approval for this new fundraising exercise. The bonds are expected to be listed on September 19.
On the bond market, the RF MGS Index posted its third consecutive daily gain as it advanced by a further 0.02 per cent to a fresh 16-month high of 1,166.437 points.
The indicative bid prices of the Central Bank of Malta for all Malta Government Stocks having maturities of eight years and over, except for the three per cent 2040 I issue, reached new record highs again today.
The yield spreads of the two largest peripheral countries – i.e. Italy and Spain – over Germany contracted today. In fact, while the yields of the 10-year Italian and Spanish government papers moved slightly lower, the corresponding benchmark Bund moved higher to -0.056 per cent from -0.084 per cent last Friday.
The recently issued 2.4 per cent MGS 2041 (I) r was admitted to listing today. Trading is expected to commence tomorrow.
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