The share index closed virtually unchanged at 4,338.573 points. Trading activity across the equity market was healthy with almost €318,000 worth of shares changing hands across the 12 active equities. MaltaPost traded up to a new all-time high while 6PM shed by 7.1 per cent.
The equity of MaltaPost continued with its positive trend and advanced by 1.7 per cent to a new all-time high of €1.82 across 28,125 shares. The annual financial statements as at September 30 will be published on December 4.
A single deal of 5,000 shares in Lombard Bank was traded at the equity’s multi-year high of €2.25, representing an increase of 0.4 per cent from its previous close.
RS2 Software reversed yesterday’s decline and advanced by 2.9 per cent to the €2.49 level across 10,000 shares.
The only other positive performer was Mapfre Middlesea as it closed marginally higher at the €2.21,1 level on insignificant volumes.
Meanwhile 6PM Holdings was the worst performer of the day as the equity shed 7.1 per cent to the 65p level across 27,500 shares.
Following yesterday’s 2.9 per cent upturn in GO's share price, the equity of the quad-play operator reversed some of yesterday’s gains and eased 0.3 per cent lower to close at the €3.54 level across 25,118 shares. Today was the last day for the entitlement to the net interim dividend ‘in kind’ of 33c13 per share, the equivalent value of the company’s entire shareholding in its subsidiary company Malta Properties Company (MPC).
Each GO shareholder will be receiving one MPC share for every GO share held. MPC shares are expected to be admitted to the official list of the Malta Stock Exchange on November 23 and trading is expected to commence the following day.
International Hotel Investments dropped 0.5 per cent to close at the 77c6 level on higher activity totalling 57,000 shares. Yesterday IHI issued a circular in connection with the recently announced bonus issue of three new shares for every 100 shares held. The bonus shares are expected to be admitted to listing shortly after allocation on or around October 23.
The other negative performer of the day was Malta International Airport. Following yesterday’s decline, the equity shed a further one per cent to the €3.81,1 level across 8,536 shares.
Recently, the company published upbeat traffic results for September. In addition, Ryanair announced that it will be basing a third aircraft in Malta and it will operate an additional nine new routes as from the next summer season. The low cost carriers also confirmed that it will increase the frequency of some of the routes it currently operates.
The four other active equities of the day all ended the session unchanged.
In the banking sector, Bank of Valletta and HSBC closed at the €2.36 and €1.80 levels respectively on weak volumes. BOV is expected to publish its annual preliminary results by the end of next week.
Moreover, the investing public is also awaiting further developments in connection with the Bank’s intention to issue a subordinated debt security.
Tigne Mall held to yesterday’s gains as it maintained its all-time high of 95c across 10,000 shares.
A single deal of just 1,000 shares also left Grand Harbour Marina unchanged at the €1 level.
On the bond market, the RF MGS Index eased by 0.26 per cent to 1,134.037 points following the rally in German Bund yields yesterday afternoon which was only partially reversed this morning.
The 10-year German Bund yield surpassed the 0.63 per cent level following comments made yesterday by two members of the European Central Bank's governing council expressing resistance toward an imminent expansion of quantitative easing in the single-currency bloc.
The benchmark yield dropped back towards the 0.6 per cent level today in anticipation of tomorrow’s ECB meeting being held in Malta and as data from the European Central Bank revealed that access to credit for eurozone businesses improved substantially over recent months.
Meanwhile, trading in the new Hili Properties bond issue is expected to commence tomorrow.
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