This morning’s trading session was characterised by low volumes across the equity market possibly as a result of the two recent bond issues by Island Hotels Group Holdings plc and Pendergardens Developments plc as well as the upcoming Malta Government Stock issue next week.
Only four equities were active and the MSE Share Index edged 0.1 per cent higher to 3,386.231 points as the one per cent gain in the share price of Bank of Valletta plc helped offset the losses in HSBC Bank Malta plc and Malta International Airport plc.
The share price of Bank of Valletta plc advanced by one per cent to €2.14 on total volumes of 17,626 shares with significant demand remaining outstanding within a range of €2.10 to €2.12.
Lower volumes were transacted in HSBC Bank Malta plc with a mere 4,555 shares changing hands. The price closed minimally lower at €2.09.
Following the 1.75 per cent decline in the equity of Malta International Airport plc yesterday, the share price lost a further 1.8 per cent today closing at the €2.20 level on volumes of 7,200 shares.
In its recent interim statement, the airport operator confirmed the 10.3 per cent growth in passenger numbers during the first four months of the year and the company stated that it expected traffic to continue growing, albeit at much slower rates, during the peak summer months.
Malita Investments plc continued to trade at the all-time high of 55c on a single trade of 20,000 shares.
Yesterday a total of 250,000 shares traded at this level. Malita recently confirmed that its financial performance for the financial year ending December 31 is expected to be within that projected for the period of a net profit of €4.8 million.
On the bond market, the Rizzo Farrugia MGS Index edged higher to 1,040.169 points as the decline in Eurozone yields to the 1.38 per cent level resulted in an upward movement across medium and long-term Malta Government Stock prices.
Tomorrow afternoon, the Treasury is expected to publish the offer price of the new fixed-rate Malta Government Stock.
A total aggregate amount of €100 million subject to an over-allotment option of up to a further €80 million is being offered across a fixed-rate stock and a floating rate stock.
The public has the opportunity of applying only in the new 4.3 per cent MGS 2033 (I) in multiples of €100 and up to a maximum of €100,000 (nominal) per application.
Subscriptions for the public open on June 2 and close on June 4.
www.rizzofarrugia.com