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  • The MSE Share Index extended yesterday’s gains as it advanced by a further 0.15% to a near four-month high of 4,552.713 points. Trading activity was spread among nine shares, with three of them registering gains, another three moved in negative territory and another three closed unchanged. The total value of trades across the equity market amounted to €0.29 million – the lowest in the last six trading sessions. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index edged 0.04% lower to a near three-week low of 1,172.021 points. Overall, euro zone sovereign yields went down (bond prices gained) as financial markets showed signs of uneasiness with the results of some polls showing Mr Donald Trump slightly ahead of Ms Hillary Clinton in the upcoming US Presidential election. The 10-year benchmark German bund yield fell to 0.123% from 0.188% yesterday. Meanwhile, the latest economic data in the single currency zone showed that the euro zone economy is continuing on its path of revival. In fact, manufacturing activity accelerated at its fastest rate in nearly three years in October while inflationary pressures showed further signs of recovery. Furthermore, German unemployment fell more than expected in October, pushing down the jobless rate of Europe’s biggest economy to a record low since reunification in 1990.
  • Trading in the recently issued 1.5% MGS 2022 (IV) FI Oct 16 R is expected to commence as from tomorrow. Meanwhile, local investors are still awaiting news from the Treasury regarding the refunds due from the 2.1% 2039 (I) and the commencement of trading in this bond.
  • The best performing equity today was RS2 Software plc as it ended the day 2.0% higher at the €1.56 level after hitting an intra-day high of €1.59 (+4.0%). A total of 33,708 shares changed hands today.
  • FIMBank plc and MaltaPost plc both recorded gains on light volumes. The trade finance specialist advanced 1.7% to the USD0.895 level whilst the postal operator recaptured the €1.88 level (+1.6%). The Board of Directors of MaltaPost is scheduled to meet on Tuesday 6 December to consider and approve the Company’s financial statements for the year ended 30 September 2016.
  • Thin trading also took place in Malta International Airport plc and GO plc. Both equities maintained the €4.10 and €3.219 levels respectively.
  • A single deal of just 240 shares left the equity of Mapfre Middlesea plc unchanged at €2.04. Recently, the insurance specialist warned that it is expecting lower profits to be registered during the current financial year ending 31 December 2016.
  • Bank of Valletta plc failed to hold on to its highest since mid-January 2008 as it eased minimally to the €2.319 level on volumes totalling 64,451 shares. Last Friday, BOV published its results for the financial year ended 30 September 2016. The Group reported a 23.7% jump in pre-tax profits to €145.9 million. The main driver behind this growth was the one-off gain of €27.5 million registered from the disposal of the shareholding in VISA Europe. Excluding this one-off gain, the Group’s pre-tax profit was relatively unchanged at €118.4 million. The Directors recommended a final gross dividend of €0.0852 per share (net: €0.0554) to be paid to all shareholders as at the close of trading on Monday 14 November subject to shareholder approval during the upcoming Annual General Meeting on Friday 16 December. During the meeting, shareholders will also be asked to approve a 1 for 13 bonus issue.
  • Also in the retail banking sector, HSBC Bank Malta plc retreated to the €1.90 level (-0.3%) across 32,794 shares.
  • Malta Properties Company plc moved back below the €0.60 level for the first time in the last nine trading sessions as it slipped 3.3% to €0.58 on volumes totalling 21,750 shares.
  • Trading in the local corporate bond market was particularly widespread as 24 corporate bonds were active today. The most actively traded was the recent €40 million 4.25% secured bond issued by GAP Finance plc which gained 50 basis points to 101.50%.

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