Following last Friday’s 0.6% drop, the first in sixteen sessions, the MSE Share Index immediately rebounded into positive territory during this morning’s session. The local equity benchmark moved 0.7% higher to a fresh 4-year high of 3,790.548 points despite a dip in trading activity to just under €0.2 million.
This morning’s uplift in the local equity benchmark was largely due to the 2.5% increase in the share price of HSBC Bank Malta plc despite the equity trading ex-dividend as from last Friday. The bank’s equity regained its 2015 high of €2.05 across eleven deals totalling 33,760 shares.
Amongst the large cap equities, Malta International Airport plc also jumped by 5.7% to a new all-time high of €3.50 albeit on shallow volumes of 1,000 shares. The equity will trade with the entitlement to the net dividend of €0.08 per share until 16 April.
FIMBank plc shares also closed in positive territory today with a 2.3% uplift to $0.44 across three deals totalling 15,000 shares.
MaltaPost plc edged up marginally to regain its all-time high of €1.41 albeit on very low volumes of 2,550 shares.
On the other hand, following last Friday’s 2% drop, the share price of Bank of Valletta plc shed a further 0.8% back to the €2.43 level across sixteen deals totalling 39,850 shares.
Similarly, the share price of GO plc eased lower for the second consecutive session with a further 0.7% decline during this morning’s session back to the €2.88 level on a deal of 5,000 shares. The recent declines are probably linked to a report published last week by a Greek online portal revealing that Vodafone and Wind, who already control 40% of Forthnet, are still interested in acquiring the remaining 60% of Forthnet although they may be now looking at offering a share swap rather than a cash transaction.
Last summer, Vodafone and Wind made a non-binding cash offer ranging between €1.70 and €1.90 per Forthnet share pending a due diligence exercise which has reportedly been completed.
Meanwhile, Malita Investments plc held on to the €0.929 level on a single trade of 1,000 shares.
Likewise, Middlesea Insurance plc held on to the €1.16 level across two deals totalling 4,284 shares.
On the bond market, the Rizzo Farrugia MGS Index edged minimally higher to 1,146.603 points as Eurozone benchmark yields remained close to all-time lows of 0.168%.
Last week, the Treasury issued a press release confirming the allotment policy of the 3.0% MGS 2040 (I). Applications up to €10,000 (nom) were accepted in full while applications in excess of €10,000 (nom) received the first €10,000 (nom) per application plus an additional 12% of the remaining balance, rounded to the nearest €100. The refunds of unallocated monies were processed on Friday. Trading on the secondary market in the 3.0% MGS 2040 (I) will commence from tomorrow.