The MSE Share Index advanced by a further 0.2 per cent during this morning’s session to close at an almost four-month high of 3,265.171 points. This morning’s upturn was mainly due to the positive movements registered across the equities of the three commercial banks.
Bank of Valletta plc inched 0.1 per cent higher to close at the €2.26,7 level across 11 trades totalling 21,084 shares. Lower volumes were traded in HSBC Bank Malta plc and Lombard Bank Malta plc ahead of the banks’ respective 2012 full-year results publication in the coming weeks. HSBC’s share price moved 0.6 per cent higher to regain the €2.75,5 level on volumes of 3,600 shares and Lombard regained the €1.90 level across 1,600 shares.
Similarly, GO plc ended in positive territory today as the equity of the telecoms quad-play operator extended its recent positive run with a further 0.4 per cent increase to yet another 19-month high of €1.39 on volumes of 29,200 shares.
Malita Investments plc also registered a 1.9% increase to reach the 53c level for the first time since its listing in August 2012. The company is scheduled to publish its maiden full-year results tomorrow.
On the other hand, the shares of Island Hotels Group Holdings plc eased minimally lower to 64c9 on a single deal of 1,000 shares.
Meanwhile, the only other active equity was Crimsonwing plc which ended the session unchanged at the 55c level across six trades totalling 80,000 shares.
On the bond market, the Rizzo Farrugia MGS Index edged marginally higher for the first time in four sessions to 1,007.405 points as the benchmark 10-year German Bund yields slumped back to the 1.6 per cent level.
The downturn in international yields reflects the renewed appetite for ‘safe-haven’ assets following yesterday’s news that some members of the US Federal Reserve monetary policy committee are doubting the effectiveness of extending its asset purchase programme which until now has been one of the major drivers behind the 2013 equity rally.
Later on this afternoon, the Treasury of Malta is expected to announce the prices of the new Malta Government Stock issues. The Treasury is offering a total of €200 million in a combination of two new stocks as follows: (i) three per cent MGS 2019 (III) and (ii) 4.5 per cent MGS 2028 (II). Subscriptions for the public open on Monday and close on Wednesday.
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