Trading activity on the Malta Stock Exchange was again centred around the equity of Bank of Valletta plc with almost 45,000 shares changing hands during this morning’s session.
BOV’s share price inched marginally higher today to regain the €2.39,5 level. The bonus shares are expected to be listed tomorrow with trading commencing next week.
Lombard Bank Malta plc also trended minimally higher to €1.85,1 on a deal of 1,574 shares. On the other hand, the share price of HSBC Bank Malta plc eased 0.7 per cent lower to the €2.55,9 level also on low volumes of 8,900 shares.
The share price of GO plc closed this morning’s session in negative territory with a 1.4 per cent drop back to the €1.82 level after only partially recovering from an intra-day low of €1.80,5.
Just over 5,000 GO shares changed hands today. This morning, the telecoms quad play operator issued an announcement confirming that Forgendo and its 50 per cent owned subsidiary, Giradena Limited, collectively hold 49,501,193 shares of Forthnet representing 44.96 per cent of the issued share capital of the Greek telecoms operator.
The announcement also reiterated the agreement between GO and Emirates International Telecommunications Malta Limited (EITML) whereby GO and EITML provided the necessary funding to Forgendo to participate in the rights issue by way of a loan. Furthermore, GO has an option, valid for a six month period starting from January 16 being the trading date of the new shares, to convert the loan into equity of Forgendo.
If GO does not convert its loan into Forgnedo shares within this period, EITML is obliged to repay the GO loan in exchange for additional shares in Forgendo.
Meanwhile, the only other active equity, Middlesea Insurance plc, ended the session unchanged at the 92c level on a small trade of 147 shares.
On the bond market, the Rizzo Farrugia MGS Index eased minimally lower to 1,024.771 points as Eurozone yields rebounded marginally above the 1.8 per cent level this morning on better than expected economic data in Europe, US and Japan.
However, by this afternoon, yields slid back below the 1.8 per cent level as US banking giant, Citigroup, missed consensus earnings estimate.
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