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  • The MSE Equity Price Index erased some of yesterday’s gains as it slipped by 0.23% to 4,468.204 points. Trading activity was spread across fourteen equities – six trended lower, another six shares closed the day unchanged, whilst only HSBC and Trident moved higher. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index drifted lower for the fifth consecutive day as it lost a further 0.26% to an over ten-month low of 1,110.671 points. Euro zone sovereign yields posted significant gains today despite comments made by ECB Chief Economist Peter Praet who was reported as saying that “an ample degree of monetary stimulus remains necessary” for inflation across the single currency area to reach the central bank’s target of 2%. In Germany, improvements have been reported with respect to the possibility of the formation of a “grand coalition” between Angela Merkel’s CDU/CSU alliance and the Social Democratic Party to form a new government. Meanwhile, in the US, the Federal Reserve kept interest rates unchanged yesterday, but signalled its readiness to hike interest rates amid more positive inflationary indicators. The Federal Reserve monetary policy meeting was chaired by Ms Janet Yellen for the last time. Ms Yellen will be replaced by Mr Jerome Powell who will be taking over the reins of the world’s most influential central bank on Saturday 3 February 2018.
  • Amongst the large companies by market capitalisation, RS2, MIA and BOV all declined today. RS2 Software plc lost 3.4% back to the €1.40 level on eight deals totalling 22,675 shares.
  • Malta International Airport plc skidded 2.1% to the €4.76 level across 6,443 shares and Bank of Valletta plc eased to the €1.80 level (-0.6%) after failing to hold to an intra-day high of €1.82 (+0.6%). A total of 92,858 BOV shares traded today.
  • PG plc shed 2.9% to a six-month low of €1.35 on 8,270 shares.
  • The worst performing equity today was Grand Harbour Marina plc which slumped by 5.3% to an all-time low of €0.72 albeit on a single deal of just 2,000 shares.
  • In the property segment, Malita Investments plc retracted by 0.6% to the €0.84 level across 11,700 shares.
  • In contrast, MIDI plc (99,200 shares) and Plaza Centres plc (15,000 shares) traded unchanged at €0.34 and €1.02 respectively.
  • GO plc also closed flat at the €3.52 level after opening at a low of €3.48 (-1.1%). A total of 4,500 shares changed hands. This morning, the company announced that its Board of Directors is scheduled to meet on Tuesday 6 March 2018 to consider and approve the Group’s financial statements for the year ended 31 December 2017. The Directors will also consider recommending a dividend to shareholders at the company’s next Annual General Meeting.
  • Simonds Farsons Cisk plc maintained the €7.50 level across 2,050 shares.
  • Similarly, Mapfre Middlesea plc and MaltaPost plc retained the €1.78 and €1.91 levels respectively on relatively light volumes.
  • On its second day of trading, the equity of Trident Estates plc added a further 0.7% to the €1.53 level on twelve deals totalling 49,393 shares. Yesterday, Trident announced that the rights issue expected to take place in 2019 would amount to 15 million new shares of a nominal value of €1 each. Moreover, the company announced that its three major shareholders have already agreed to take up their proportionate entitlement of the eventual rights issue. The company also revealed that it has secured bank loans with a leading local bank for the purpose of redeveloping the Brewery Façade located in Mriehel into Trident Park. As a result, all prerequisites for the redevelopment of Trident Park are now in place.
  • HSBC Bank Malta plc climbed to the €1.79 level across 32,830 shares.

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