The MSE share index closed marginally lower as fresh bids which helped BOV shares gain 2.1 per cent were offset by marginal declines in HSBC Bank Malta plc and International Hotel Investments plc on insignificant volumes.

On the other hand, Lombard Bank and Malta International Airport shares also gained although activity here was also very thin.

Go plc attracted the lion’s share of today’s equity market activity as 54,280 shares changes hands across eight deals for a market value of €115,053. All trades were executed between €2.11 and €2.12 (unchanged).

Developments on international markets continue to take centre stage and the domestic Government Bond market tested records highs this week in line with the Bund rally internationally as a renewed ‘flight to safety’ sent yields sharply lower (and bond prices higher) on concerns that some of the eurozone’s public finances will affect the region’s recovery targets.

Domestically, the corporate bond market remains fairly active with new issuance on track. Simonds Farsons Cisk plc, Eden Finance Plc and Tumas Investments plc have all announced new bond issues whilst the Malta Government Stock issues closed for public subscription last Wednesday and for institutional investors earlier today. Results of the new MGS issues are expected later today.

www.rizzofarrugia.com

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