The share index extended yesterday’s gains by a further 0.12 per cent to 4,442.333 points on thin volumes. The uplift largely reflects the rise in the share price of HSBC which outweighed the decline in RS2. Week-on-week the index dropped by 0.96 per cent – the steepest weekly decline in the last 10 weeks.
Both HSBC and Bank of Valletta performed positively. HSBC gained 1.8 per cent to a new six-month high of €1.70 across 18,466 shares. Bank of Valletta moved minimally higher to the €2.29 level on volumes totalling 12,950 shares. The market is now awaiting the publication of BOV’s financial statements for the year ended September 30 by the end of this month.
Among the large companies, a single deal of just 1,500 shares pulled the equity of RS2 Software plc 2.5 per cent lower to the €1.55 level.
Shallow volumes were also traded in GO and Simonds Farsons Cisk. Both equities closed unchanged at €3.15 and €7 respectively.
On the bond market, the RF MGS Index trended higher for the third consecutive day as it went up by a further 0.15 per cent to a one-week high of 1,170.137 points.
The indicated bid prices of the Central Bank of Malta for Malta Government Stocks were mostly higher today (yields went down) despite the fact that euro zone sovereign bond yields nudged upwards.
In fact, the 10-year benchmark German Bund yield advanced to 0.058 per cent from 0.038 per cent yesterday.
Similarly, the 10-year yields of the two largest peripheral countries with similar credit ratings to Malta’s – Italy and Spain – climbed to 1.39 per cent and 1.13 per cent from 1.383 per cent and 1.113 per cent respectively.
On the economic front, fresh data showed that Spanish consumer prices rose by 0.2 per cent year-on-year in September compared to a 0.1 per cent drop in August – the sharpest rise in annual consumer prices since May 2014.
Yesterday, the Treasury issued the prices for the new Malta Government Stocks as follows: the 1.5 per cent MGS 2022 (IV) F.I. has been priced at 107.25 per cent (yield to maturity of 0.223 per cent per annum) and the 2.1 per cent MGS 2039 (I) has been priced at 102.5 per cent (yield to maturity of 1.964 per cent per annum). Subscriptions close on Wednesday or earlier in the event of over-subscription.
No trades took place in the five per cent Dizz Finance 2026 bonds which were admitted to the official list yesterday.
www.rizzofarrugia.com