On the bond market, the Rizzo Farrugia MGS Index slid 0.4 per cent to a new three-week low of 1,143.428 points as the benchmark Eurozone 10-year Eurozone yield surpassed the 0.7 per cent level on increased confidence following yesterday’s breakthrough in Greece’s debt negotiations and the publication of a better-than-expected 0.3 per cent increase in prices across the Eurozone during the month of May.
This afternoon, as expected, the European Central Bank announced that it has maintained its main refinancing rate at the historically low level of 0.05 per cent. Markets now await further details from the ECB during the customary press conference by the Bank’s President Mario Draghi.
Meanwhile, across the equity market, various share prices advanced during this morning’s session to lift the share index up a further 0.7 per cent to yet another five-year high of 3,943.957 points.
Bank of Valletta’s share price edged 0.4 per cent higher to €2.27,5 across nine deals totalling 12,673 shares.
Similarly, the equity of International Hotel Investments moved 3.1 per cent higher to a new one-year high of 82c5 on volumes of just over 15,700 shares.
IHI recently revealed its plans to issue a €170 million international secured bond through a special purpose vehicle which obtained a ‘B’ rating and also explained that it is currently considering a number of options on how to compensate free-float shareholders.
RS2 Software traded up to yet another all-time high with an increase of a further 0.3 per cent to reach the €3.41 level albeit on shallow volumes of 1,764 shares.
Simonds Farsons Cisk also rallied to a fresh all-time high of €3.76 on insignificant volumes. The Farsons Group recently revealed its plans for the Farsons Business Park Project which will comprise over 18,000 square metres of office space, more than 1,200 square metres of food and beverage facilities and a car park of over 700 spaces.
Mapfre Middlesea also ended in positive territory today as a single trade of 1,856 shares was executed at the €1.50 level representing a 5.5 per cent uplift from the previous closing price.
Meanwhile, MIDI jumped 6.8 per cent to the 33c1 level on higher volumes totalling 138,000 shares. MIDI is currently developing the final stages at Tigné Point whilst seeking a strategic investor or partner for the Manoel Island project.
On the other hand, the share price of HSBC eased 0.5 per cent lower to €1.84 on low volumes of 8,700 shares. Likewise, GO and Malita Investments dropped to €3.07,9 and 95c5 respectively.
Malta International Airport maintained the €3.37,5 level across 3,635 shares and Medserv traded again at the €2.16 level. Medserv is scheduled to pay the recently approved final net dividend of 5c6 per share by not later than June 23.
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