The share index extended yesterday’s gains by a further 0.13 per cent to 4,508.544 points as the increases in the prices of six equities outweighed the declines in IHI and Malta Properties Company.
Trading volumes improved as just over €266,000 worth of shares changed hands. Following last week’s worst weekly performance since the start of the year (-1.79 per cent), the local equity benchmark advanced by 0.87 per cent during this shortened week. Trading will resume next Tuesday.
Bank of Valletta inched 0.8 per cent higher to the €2.26,9 level on volumes totalling 14,825 shares. On Tuesday, the bank announced that it received €36.59 million worth of applications for the recently issued 3.5 per cent €50 million subordinated notes 2030.
Therefore, all applications will be met in full. The new notes are expected to be admitted to the official list on April 8 with trading expected to commence thereafter.
Also in the banking sector, FIMBank continued to trend higher as today it gained another 3.6 per cent to the 72c5US level – the highest since late April 2014 – across 29,983 shares. Shareholders as at the close of trading on April 6 will be eligible for a one for 25 bonus issue, subject to regulatory as well as shareholders’ approval.
RS2 Software closed higher for the fifth consecutive session as the equity continued to rebound from last week’s sharp decline with a further 0 per cent uplift to the €3.70 level across 7,140 shares.
Medserv partly reversed yesterday’s decline as the equity regained the €1.65 level (+1.2 per cent) across 13,000 shares. On Tuesday, Medserv published its 2015 financial performance which showed that the group’s net profit attributable to shareholders surged to €4.12 million compared to €1.94 million in 2014. No final dividends are being recommended in view of the company’s substantial expansion programme.
GO closed at a fresh five-month high of €3.45 (+0.6 per cent) across 5,450 shares. Shareholders as at April 7 are entitled to receive a final net dividend of 10c per share (to be paid on May 13) subject to shareholders’ approval at the company’s annual general meeting to be held on May 11.
GlobalCapital reclaimed the 40c level (+5.3 per cent) on low volumes. Shareholders have until March 30 to submit their application to participate in the recently announced rights issue of 1.27 new shares for every share held.
In contrast, International Hotel Investments declined by 3.8 per cent to a fresh one-year low of 64c across 88,200 shares.
Despite registering improved results on Monday, Malta Properties Company shed another 0.4 per cent to the 56c3 level across 59,726 shares. On Tuesday, MPC announced that it has been approached by a third party with proposals for a potential mixed-use development that would incorporate the company’s St George's Exchange site in St Julian’s. The company’s board of directors will make additional announcements in such regards as and when necessary.
Meanwhile, MIDI maintained the 36c level across 124,737 shares. The Ccompany will reveal its financial results for 2015 on Monday.
Two deals totalling 2,220 shares left the equity of Malta International Airport unchanged at the €4.41 level.
On the bond market, the RF MGS Index advanced by 0.13 per cent to 1,152.227 points as the 10-year benchmark German Bund yield slumped from the 0.23 per cent level of yesterday to 0.18 per cent today possibly due to notable declines in the price of oil.
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