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  • The MSE Share Index offset yesterday’s 0.16% decline as it rebounded by 0.19% to a four-day high of 4,470.812 points. As a result, in contrast to the losses registered in the previous two weeks, the local equity benchmark gained 0.63% during the last five trading sessions largely on the back of the weekly increases in the share prices of RS2 (+4.0%), HSBC (+3.1%) and BOV (+1.3%). Download a copy of today’s Equity Market Summary.
  • On the bond market, the surge in the price of oil this week continued to drive inflation expectations upwards. In turn, yields across the Eurozone trended higher whilst prices of fixed-income securities dropped. This was also reflected in the opening indicative bid prices of the Central Bank of Malta (CBM) for Malta Government Stocks (MGSs) which were revised lower for the second consecutive day. In fact, the RF MGS Index extended yesterday’s decline by a further 0.30% to 1,142.545 points. Week-on-week, the local MGS benchmark advanced by a mere 0.09% as the gains posted in the first three days of the week marginally outweighed the declines of yesterday and today.
  • Today, the most actively traded equity was Bank of Valletta plc which advanced by 0.5% to the €2.23 level on volumes totalling 34,099 shares – representing 36% of the total value of equities traded today. Last Thursday, Fitch downgraded its credit rating on BOV to “BBB”, citing pressure on the Bank’s level of capitalisation. The Bank is due to hold its Annual General Meeting on 16 December 2016 during which shareholders will be asked to approve a number of resolutions including the final dividend as well as a 1 for 13 bonus share issue.
  • Also amongst the large companies by market capitalisation, Malta International Airport plc moved minimally higher to the €4.05 level across 6,560 shares.
  • In the property segment, Tigne’ Mall plc recaptured its all-time high of €1.15 (+4.5%) albeit on shallow volumes totalling 6,100 shares.
  • Malta Properties Company plc recovered some of yesterday’s declines as it rebounded by 2.6% to €0.585 across 33,000 shares.
  • On the other hand, Plaza Centres plc trended lower as the equity eased by 1.8% back to the €1.10 level across 13,700 shares.
  • Meanwhile, a single deal of 16,240 shares left the equity of Malita Investments plc unchanged at the €0.859 level.
  • GO plc and HSBC Bank Malta plc also ended this morning’s session unchanged as they held on to the €3.22 and €1.855 levels respectively across shallow volumes.
  • FIMBank plc (25,000 shares) and RS2 Software plc (11,288 shares) also maintained their respective previous closing prices. The trade finance specialist held on to the USD0.83 level whilst RS2 ended the week at the €1.598 level.

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