Following the 7.1 per cent decline in the MSE Share Index during the first three months of the year, Q2 started on a more positive note with the Index up 1.9 per cent as all the active equities advanced albeit on generally shallow volumes.
The only exception, in terms of volume, was Bank of Valletta plc as over 52,000 shares trading with the equity edging one per cent higher to €2.22.
The share prices of the other retail banks also performed positively. HSBC Bank Malta plc edged 0.8 per cent higher to €2.40 on low volumes of 2,874 shares and a single trade of 1,000 Lombard Bank Malta plc shares was executed at the €1.70 level (+2.4 per cent).
Similarly, the share price of GO plc gained two per cent to the €2.04 level on a deal of 1,000 shares. Last week, GO announced the acquisition of a 25 per cent shareholding in a private telecommunications company in Cyprus in exchange for a €12 million convertible loan. No further details were announced. GO’s equity traded ex-dividend as from tomorrow.
A single trade was also executed in International Hotel Investments plc with 2,000 shares changing hands at the €0.839 level, representing an 8.7 per cent increase over the previous closing price. The company has yet to announce the date of its 2013 full-year results publication.
Low volumes were also registered in Malta International Airport plc as only 200 shares changed hands at the €2.25,1 level, minimally above the previous closing price.
Likewise, the share price of Malita Investments plc edged 0.4 per cent higher to the 54c2 level across 3,000 shares. The company is scheduled to hold its annual general meeting next week, on April 9.
On the bond market, the Rizzo Farrugia MGS Index slid 0.1 per cent higher to 1,027.532 points as Eurozone yields rebounded to the 1.57 per cent level despite the possibility of further stimulus from the European Central Bank during Thursday’s meeting following last week’s Eurozone inflation data which showed a further dip in the inflation rate to 0.5 per cent.
Furthermore, the uptick in yields contrasts Russia’s decision to increase gas prices for Ukraine.
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