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  • The MSE Share Index tumbled 3.4% during this morning’s session to close at a new 5-week low of 3,133.056 points as the three largest equities by market capitalisation traded lower. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index gained for the third consecutive session and rose 0.1% to a fresh 1-month high of 998.135 points as Eurozone yields slipped below the 1.45% level and are trading near 5-week lows. This reflects the increased demand for safe haven assets, such as German Bunds, in anticipation of an uncertain US Presidential election as well as ahead of a crucial vote in the Greek Parliament. Greece needs to approve the latest austerity package aimed to save around €13.5 billion, which is necessary for the country to be granted the next tranche of aid. A vote is expected to take place on Wednesday while the main trade unions in Greece planned 3-days of industrial action.
  • This morning’s decline in the local equity index was mainly due to the 13.7% plunge in the share price of IHI to €0.82 level on high volumes of 500,000 shares.
  • BOV retreated for the fourth consecutive session despite still trading with the entitlement to the final gross dividend of €0.13 per share and a 1 for 9 bonus share issue. BOV’s equity dipped another 1.2% lower to €2.40 across twenty trades totalling over 53,800 shares.
  • Similarly, the share price of HSBC eased a further 1.6% to €2.705 on volumes of 13,600 shares.
  • Simonds Farsons Cisk also ended lower today with a minimal decline to €2.399 on insignificant volumes of 200 shares.
  • A further 26,492 Crimsonwing shares changed hands at the €0.38 level – the equity’s 20-month high. Recently, the CEO David Walsh explained that following a number of new international contracts, the Crimsonwing Group is expected to reach its target of €20 million in revenue and a pre-tax profit of €2 million by the financial year ended 31 March 2014. Further details available here.
  • A single deal of 800 FIMBank shares was transacted at the US$0.79 level. Investors still await developments with respect to the potential takeover by Burgan Bank.