The share index rebounded by a minimal 0.05% to 4,703.364 points today from its 13-day low of yesterday. However, trading activity continued to be characterised by low volumes as only €0.08 million worth of shares changed hands – the lowest in over two months.

PG advanced by 4.4% to a fresh all-time high of €1.39,9 on low activity of 5,810 shares. The company is expected to publish its 2016/17 financial statements by the end of this month.

Grand Harbour Marina rallied by 9% from its over 10-year low of 82c to the 89c4 level albeit on trivial volumes.

Low trading activity also took place in the equities of GO and International Hotel Investments which closed unchanged at €3.57,8 and 60c respectively. GO is due to reveal its six-month financial results on August 4.

Similarly, HSBC (4,003 shares) and Malta International Airport (2,850 shares) maintained the €2.05 and €4.20 levels respectively. Both equities are trading with the entitlement to the recently declared interim dividends.

Also among the large companies by market capitalisation, Bank of Valletta eased 0.3% to a near seven-month low of €2.14,4 across 18,155 shares whilst a single deal of 8,000 shares pushed the equity of RS2 Software 1% lower back to the €1.82 level.

Today, Simonds Farsons Cisk issued the formal notice in connection with the issuance of €20 million 3.5% unsecured bonds maturing in 2027. The equity remained inactive today.

On the bond market, the RF MGS Index extended yesterday’s rebound of 0.13% by a further 0.16% to a one-week high of 1,125.390 points as euro zone sovereign yields continued to lose some of their recent gains.

The benchmark 10-year German Bund yield recorded a near one-month low of 0.481% today from 0.53% yesterday. On the economic front, fresh data showed that producer prices within the single currency area jumped by a better-than-expected 2.5% year-on-year in June, but the increase was lower than the revised growth of +3.4% in the previous month.

www.rizzofarrugia.com

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