The share index extended yesterday’s gains by 0.34 per cent to 4,552.402 points on improved trading activity. In fact, the value of trades across the equity market picked up notably from yesterday’s particularly low level as just over €402,000 worth of shares changed hands this morning.
The 3.2 per cent increase in the share price of International Hotel Investments weighed positively on the Index. IHI rebounded from its 14-month low of 62c to the 64c level across 38,351 shares. The hotel chain operator has yet to announce the date when its 2015 financial results will be published.
The most actively traded equity for today was that of FIMBank. The trade finance specialist advanced 1.8 per cent to its highest level in over two years of 74cUS across 185,000 shares.
GO regained the €3.48 level (+0.9 per cent) on activity of 21,436 shares.
On the Alternative Companies List, Loqus Holdings traded for the first time in over two months. The equity gained 0.8 per cent to the 13c1 level across 22,364 shares.
Two deals totalling 5,376 shares pushed the equity of Malita Investments 0.1 per cent higher to the 93c level. During the upcoming annual general meeting to be held on April 26, shareholders will be asked to approve the distribution of the recently declared final gross dividend of 2c2 per share (net: 1c43) to be paid on April 29.
Within the same segment, Malta Properties Company maintained the 60c level across 50,500 shares. The annual general meeting of Malta Properties will take place on June 2.
Likewise, the two largest retail banks – Bank of Valletta (14,340 shares) and HSBC (18,540 shares) – closed flat at €2.26,5 and €1.60 respectively. BOV is expected publish its 2016 interim results by the end of April.
Also among the large companies, RS2 Software retreated by 0.7 per cent to the €3.80 level across 6,310 shares. The company’s board of directors is scheduled to meet on April 28 to consider and approve the company’s results for the financial year ended December 31. The directors will also consider recommending the payment of a final dividend.
Malta International Airport eased by 0.6 per cent to the €4.35 level across 14,473 shares.
On the bond market, the RF MGS Index added to yesterday’s decline as it slipped by a further 0.2 per cent to 1,151.973 points.
Yields of euro zone sovereign bonds gained ground possibly due to the gains registered in the price of oil. In fact, the 10-year benchmark German Bund advanced from 0.13 per cent yesterday to 0.16 per cent today.
On the economic front, a survey conducted by the European Central Bank showed that negative interest rates have encouraged lending volumes and eased credit conditions for both businesses and consumers, although the ECB did acknowledge that negative rates have had a detrimental impact on the profitability of banks as it affected their net income and loan margins.
Trading in the new 4.25 per cent Corinthia Finance plc 2026 bonds is due to commence on April 22.
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