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  • The MSE Share Index ended today’s session virtually unchanged at a fresh multi-year high as all equities ended at their previous level except for Farsons. Trading activity picked up from yesterday’s low but still were relatively weak. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index advanced by 0.29% to a new 6-week high to 1,132.772 points as the benchmark 10-year German Bund yield failed to rebound from the decline seen yesterday afternoon to the 0.56% level. Reassuring comments made from the President of the European Central Bank Mario Draghi that the Eurozone has become more resilient and growth is picking up were shrugged off as data relating to European producer inflation came out weaker than expected, adding fears to a more vulnerable inflation outlook.
  • Yesterday, the Treasury established the prices of the two Malta Government Stocks as follows: (i) the 2.00% MGS 2020 (V) FI at 106.25% (YTM of 0.714% pa) and (ii) the 2.30% MGS 2029 (II) FI at 102.50% (YTM of 2.09% pa). Subscriptions open next Monday 5 October.
  • Meanwhile, following the publication of a Prospectus by Hili Properties plc in connection with a new €37 million unsecured bond issue at a coupon rate of 4.5% per annum, Hili Ventures Group bondholders have until Monday 5 October 2015 to submit any applications whilst the subscription period for the General Public opens on Wednesday 7 October 2015.
  • Simonds Farsons Cisk plc was the only positive performer of the day as it rose marginally to a new all-time high of €5.751 on subdued trading. On Wednesday, the Company published its interim financial results which showed that during the period under review, the Group registered another positive performance with profits after tax rising by 14% to €4.6 million. Farsons will be distributing an unchanged net interim dividend of €0.0333 per share. This will be paid on Tuesday 20 October 2015 to all shareholders as at close of trading today.
  • All of the three retail banking shares closed unchanged. Bank of Valletta plc failed to hold on to its intra-day high of €2.40 for the second successive day and closed at the €2.39 level across 11,879 shares. This week marked the end of BOV’s financial year. The Bank generally publishes its preliminary full-year results by the end of October. Recently, the Bank also announced that it lodged an application with the Listing Authority for a subordinated debt issuance programme of a maximum of €150 million over the next twelve months. Further details will be issued in the Prospectus and Final Terms once approval is granted.
  • Also in the banking sector, HSBC Bank Malta plc and Lombard Bank Malta plc maintained the €1.81 and €2.15 levels respectively. Volumes were relatively weak across both equities.
  • Two deals each in International Hotel Investments plc and Mapfre Middlesea plc also left the equities unchanged at the €0.80 and €2.28 levels respectively.

 

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