After a slow start to the week, trading on the stock exchange gathered momentum this morning with equity volumes surging to €0.7 million. The share index extended its positive run to the ninth consecutive session, edging 0.4 per cent higher to 3,571.463 points.
Bank of Valletta added 0.5 per cent to €2.21 on a surge in activity amounting to 135,106 shares.
Similarly, HSBC continued to recover and advanced by a further 0.5 per cent to the €1.96 level across 19 trades totalling 184,638 shares. The equity continues to trade with the entitlement to the final gross dividend 2c6 per share until March 18.
Middlesea Insurance edged 2.9 per cent higher to the €1.08 level, albeit on shallow volume of 2,000 shares. Tomorrow, the company is expected to issue its full year results for 2014.
Malita Investments closed 1.1 per cent higher at 91c after opening the day at a new record of 93c. Activity remained weak with only 6,000 shares changing hands. The equity will trade with the entitlement to the final gross dividend of 2c1 per share (net: 1c365) until close of trading on March 18.
Although shallow volumes were also transacted in GO, the share price edged a further 0.7 per cent higher to the €2.87 level. During this morning’s session, the telecoms operator published its preliminary results for 2014 showing a 30 per cent increase in pre-tax profits to €20.3 million as a result of a decline in operating costs and finance expenses.
The directors recommended the payment of an unchanged final net dividend of 7c per share to all shareholders at the close of trading on March 30.
Meanwhile, three other equities ended the session unchanged. Plaza Centres closed at the 85c level across shallow volumes of 4,400 shares, while the share price of Simonds Farsons Cisk retained its record level of €3.25 on a single deal of 305 shares.
Malta International Airport also closed unchanged at the €3.15 level across six deals totalling 9,171 shares. The equity will trade with the entitlement to the final gross dividend of 12c31 per share until April 16.
The Rizzo Farrugia MGS Index continued to mirror the rally across eurozone bond markets following the commencement of the European Central Bank’s Public Sector Purchase Programme (PSPP) yesterday.
This morning, Eurozone benchmark yields touched fresh lows of 0.26 per cent which sent the Rizzo Farrugia MGS Index up 0.3 per cent to a new record of 1,139.063 points as the longer-dated Malta Government Stocks were priced at new all-time highs.
Yields continued to drop across the eurozone this afternoon with the benchmark 10-year German bund dipping to 0.24 per cent.
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