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  • The MSE Share Index opened the week on a positive note as it extended last Friday’s gains by a further 0.31% to a near eleven-week high of 4,480.272 points. Trading activity was spread across fourteen equities, five of which registered gains, six closed flat whilst only three equities suffered declines. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index posted its third consecutive negative daily performance as it declined by a marginal 0.02% to 1,174.050 points. Euro zone sovereign bond yields were broadly higher today, with the 10-year benchmark German bund moving to -0.11% from -0.152% last Friday. On the economic front, the result of recent surveys showed that manufacturing activity in the euro zone picked up in September. However, the upturn remained uneven and was centred on Germany and its neighbours. Growth was far weaker than earlier in the year in Spain, Italy and Ireland, while manufacturing in France continued to decline.
  • The most actively traded equity today was HSBC Bank Malta plc as 76,299 shares (valued at nearly €0.13 million and representing 33.3% of the total value of equities traded) lifted the share price 1.2% higher to a two-month high of €1.64.
  • Also in the retail banking segment, Bank of Valletta plc advanced 0.4% to a fresh five-month high of €2.27 across 19,522 shares. BOV’s financial statements as at 30 September 2016 will be published by the end of October.
  • The largest gains were registered in the property segment. Malta Properties Company plc jumped 5.2% to the €0.589 level – the highest in over five months – on volumes totalling 31,200 shares. This morning, MPC revealed that it entered into a tripartite Memorandum of Understanding regarding a proposed development at the St. George’s Exchange site in St Julian’s which is currently held on lease by GO. The development consists of a mixed-use development, which is envisaged to incorporate residential and commercial areas, including a shopping mall of at least 10,000 sqm, as well as a car park. Malta Properties will use the entire proceeds received from the agreement to finance its 50% stake in the joint venture which will own and operate the shopping mall to be built within the complex. It is projected that the Project will be completed by 2023.
  • Plaza Centres plc registered its first daily uplift in the last twenty-five trading sessions as it recaptured the €1.12 level (+1.8%) across 26,500 shares.
  • Medserv plc regained the €1.57 level (+1.3%) on a single deal of 5,000 shares.
  • International Hotel Investments plc continued to trade on low volumes. The equity closed unchanged at the €0.635 level.
  • Similarly, Lombard Bank Malta plc maintained the €2.10 level across 2,155 shares.
  • GO plc held on its four-month high of €3.22 across 14,218 shares whilst Simonds Farsons Cisk (1,600 shares) closed again at its all-time high of €7.05 after opening at a new record of €7.30. The equity of Farsons turns ex-dividend tomorrow. Last week, Farsons published its interim results showing a 20.1% jump in pre-tax profits to a record of €5.8 million. The improved results came largely from the ‘Brewing, production & sale of branded beers & beverages’ segment arising from the solid performance of Malta’s economy together with significant growth in tourist arrivals.
  • RS2 Software plc closed flat at €1.64 across four deals totalling 21,028 shares.
  • Likewise, Tigne’ Mall plc maintained the €1.065 level on volumes totalling 40,505 shares.
  • In contrast, MIDI plc dropped to its lowest level in over ten months as it retreated to the €0.34 level (-2.6%) across 13,000 shares whilst Malita Investments plc moved back to the €0.86 level (-1.1%) on insignificant volumes.
  • The equity of MaltaPost plc traded for the first time in nine weeks and lost 1.6% to the €1.85 level also on thin volumes.

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