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Yesterday’s rebound in the MSE Share Index was short-lived as it dropped by 0.55% during this morning’s session to a 16-week low of 4,445.937 points on heightened activity totalling €0.44 million – the highest level of trading volumes for the last two weeks. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index recovered the losses of the past two days as it rebounded by 0.12% to 1,150.192 points. A number of factors influenced the increased attractiveness of euro zone debt markets. Mixed US economic data issued yesterday evening dampened expectations for a rise in US interest rates during the upcoming US Federal Reserve monetary policy meeting scheduled for this month. Furthermore, weaker oil prices and renewed Brexit fears all supported demand for ‘safe-haven’ assets. Indeed, the 10-year benchmark German Bund yield fell from a high of 0.19% yesterday to a low of 0.12% today. On the economic front, a survey of manufacturing activity within the single currency block signalled a further slowdown in the rate of growth which dropped to a three-month low in May.

Malta International Airport plc closed the day 0.2% lower at its lowest level in over four months at the €4.29 level across 54,000 shares having a market value of €0.23 million – representing 52.6% of today’s value traded.

In the banking sector, FIMBank, HSBC and BOV all finished lower today. Indeed, FIMBank plc shed 3.0% to drop back to its lowest level in three weeks of USD0.82 across 35,170 shares.

Likewise, HSBC Bank Malta plc moved back to the €1.60 level (-0.6%) across 13,156 shares whilst Bank of Valletta plc eased minimally lower to the €2.239 level on volumes totalling 10,056 shares.

Also among the large companies, International Hotel Investments plc extended yesterday’s decline by a further 1.6% to the €0.63 level although on light volumes totalling just 2,000 shares. IHI’s Annual General Meeting (AGM) will be held on 9 June. In the meantime, the equity will continue to trade with the entitlement to the 3 for 100 bonus issue until 27 June 2016.

After recording a new all-time high of €6.50 yesterday, a single deal of 9,500 shares pulled the equity of Simonds Farsons Cisk plc 3.1% lower back to the €6.30 level. Farsons is due to hold its AGM on 28 June.

In contrast, RS2 Software plc trended higher for the first time in the last twelve sessions as it edged up by 0.3% to regain the €3.49 level after rebounding from an intra-day low of €3.469 across 14,200 shares. RS2 is due to hold its AGM on 23 June during which, and amongst other resolutions, shareholders will be asked to consider and approve a 5 for 3 share split (cut-off date: 30 June).

Malta Properties Company plc advanced by 0.8% to recapture the €0.516 level across insignificant volumes ahead of its AGM scheduled to be held tomorrow.

Meanwhile, Plaza Centres plc maintained the €1.07 level across 7,398 shares.

Medserv plc also closed unchanged at the €1.79 level across 10,000 shares. Last Thursday, the oil and gas logistics specialist announced that it was awarded a contract by ENI to provide a logistics base and associated services for its exploration activities taking place offshore Portugal for six months with possible extensions.

Mapfre Middlesea plc and Loqus Holdings plc retained the €2.21 and €0.131 levels respectively on trivial volumes.

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