Sustained demand for Middlesea Insurance plc shares lifted the equity to a new 2010 high for the second successive session on increased volumes of over 24,000 shares. The share price of Middlesea advanced by a further 2.7% during this morning’s session to regain the €1.15 level – the highest level since November 2009.
Elsewhere in the local equity market, HSBC Bank Malta plc minimally recovers to close at €2.831 on a thin trade of 400 shares. Meanwhile Bank of Valletta plc moves back into negative territory as its share price eases by 0.2% to the €3.005 level on just over 8,100 shares.
On the bond market, the recently listed 5.35% Izola Bank plc Secured Notes 2015 traded above the par level for the first time as a single trade of €10,000 (nominal) was effected at 100.50%. Meanwhile a total of 47 trades were executed in the 8% BOV plc 2010 USD Bonds with a total value of over USD570,000.
Bonds closed today’s session unchanged at the 101% level. Shortly following the close of today’s session, the Malta Stock Exchange announced that the amount of outstanding BOV Dollar bonds was reduced by USD103,500 to USD36,440,000 following a buy back of these bonds by the Bank on 2 July.
High trading was also registered in the longer dated Malta Government Stocks. A total of €128,000 (nominal) was traded in the 10-year paper with the price of the 4.6% MGS 2020 (II) reaching a new 2010 high of 105%. Moreover the price of the recently issued 5.25% MGS 2030 (I) also closed at another fresh high of 104% representing a premium of 214 basis over the bid price of the Central Bank of Malta.
On the primary market, preferred applicants of the 7.15% Mediterranean Investments Holdings plc 2015 – 2017 have until tomorrow to submit their application.
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