After a three-day positive streak, the MSE Share Index today closed 0.38% lower at 4,390.133 points as four of the largest companies by market capitalisation (MIA, BOV, HSBC and GO) closed in negative territory whilst Medserv jumped by a further 7.9%. Volumes remained relatively elevated as close to €300,000 worth of shares changed hands. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index eased by 0.20% to 1,135.045 points as the 10-year German Bund yield climbed from the 0.56% level of yesterday to 0.60% today as better-than-expected economic data in certain eurozone countries together with hawkish comments from Fed Chairwoman Janet Yellen yesterday pushed yields up across the globe.

Medserv plc was again the best performer as the equity of the oil and gas logistics specialist extended yesterday’s upturn of 8.6% and advanced by a further 7.9% to €2.05 across 20,000 shares. Last Friday, the Company declared a net interim dividend of €0.08 per share and a bonus share issue of 4 new shares for every 5 shares held. Shareholders as at close of trading on 28 October are eligible to both the cash dividend and the bonus shares. Medserv is expected to hold an Extraordinary General Meeting on or around 1 December.

In the banking sector, FIMBank plc and Lombard Bank Malta plc also closed in positive territory as the equities advanced by 4.7% and 0.9% to USD0.45 and €2.30 respectively on shallow volumes. This morning, FIMBank issued its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015. The Board of Directors explained that during the third quarter of 2015, FIMBank continued with its consolidation strategy to turnaround the core operating business, mainly through the reorganization of its risk management processes as well as further diversification of its funding sources. The Group reported a profit during the third quarter of the current financial year. The Directors also explained that a new core factoring strategy has been adopted and is being rolled out across the Company’s subsidiaries and joint-ventures.

On the other hand, the equities of Bank of Valletta plc and HSBC Bank Malta plc eased by 0.6% and 1.1% to the €2.42 and €1.825 levels on activity of 26,334 shares and 2,053 shares respectively. Subject to shareholders’ approval at the next Annual General Meeting to be held on 17 December, BOV shall be distributing a final net dividend of €0.05525 per share, payable on the 18 December to those shareholders as at close of trading on 13 November. Moreover, a bonus share issue of 1 new share for every 12 shares will also be distributed to those BOV shareholders as at close of trading on 13 January 2016.

Malta International Airport plc eased 0.1% lower to the €3.88 level across 26,800 shares. Yesterday afternoon, the low-cost airline EasyJet announced a new route between Malta and Geneva for next summer.

The other negative performers of the day were Plaza Centres plc and GO plc. The equity of Plaza eased by 2.0% to the €0.97 level across 50,000 shares. Likewise, a single deal of just 1,640 shares sent the equity of GO 4.3% lower to the €3.101 level.

Meanwhile, the equity of International Hotel Investments plc closed unchanged at the €0.82 level across 10,000 shares. Last week, the IHI Group published its Interim Directors’ Statement covering the nine-month period up to the end of September 2015. The company explained that during the period under review, the positive trends highlighted in the 2015 interim financial statements persisted during the third quarter of the year and expectations for the rest of the financial year remain buoyant. IHI is anticipating a year of overall growth with new development and hotel management agreements expected to be entered into with third party investors in cities and resorts across Europe and the Gulf. Further announcements in this regard will be made at the opportune time.

This morning, Tigne’ Mall plc also issued its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015.

The Board of Directors explained that the positive trends experienced during the first six months of the financial year continued during the third quarter as the mall remained fully let. Profitability increased when compared to the corresponding period last year whilst cash flows from operations remained healthy. Consequently, the Company’s financial position remains positive and in line with projections. Tigne’ Mall is also anticipating a positive performance for the final quarter of the financial year. Moreover, two new fashion outlets are expected to be opened this month.

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