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  • The MSE Share Index extended last Friday’s decline by a further 0.23% to a near two-week low of 4,704.848 points as the losses in IHI (-1.5%) and BOV (-0.9%) outweighed the gains registered in Malta Properties (+3.8%), MIA (+0.5%) and RS2 (+0.3%). Meanwhile, five equities finished the day flat. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index erased some of last Friday’s gains as it eased by 0.17% to 1,119.358 points. While the 10-year benchmark German Bund yield slipped from 0.441% last Friday to 0.401% today, the corresponding yields of the two largest peripheral countries – Italy and Spain – edged up to 1.692% and 2.31% respectively possibly on renewed political risks in France where Marine Le Pen laid out her anti-globalisation, anti-euro and anti-immigration electoral plans. Indeed, the spread between the 10-year German Bund and the equivalent French sovereign bond increased to over 70 basis points – the highest since March 2013. Meanwhile, in Germany, fresh data showed that factory orders rose by a much better-than-expected 5.2% month-on-month in December 2016 – the highest since July 2014. In contrast, the result of a survey among investors and analysts showed that confidence in the single currency economy registered a slight setback in February but still remained high.
  • Last Friday, the Treasury announced that it will be offering three new Malta Government Stock issues, namely: (i) 1.4% MGS 2023 (III); (ii) 1.5% MGS 2027 (I); and (iii) 2.2% MGS 2035 (I). The fixed offer prices will be announced on Wednesday 8 February 2017 in the afternoon. Subscriptions open on Monday 13 February and close on Wednesday 15 February for the General Public or earlier in the case of over-subscription.
  • Bank of Valletta plc continued to trade on strong volumes as 134,779 shares – representing 78% of the total value of equities traded – changed hands today. The share price closed 0.9% lower at €2.15 after hitting an intra-day high of €2.17.
  • A single deal of just 5,000 shares dragged the equity of International Hotel Investments plc 1.5% lower to the €0.64 level. Last week, IHI announced that it appointed Numis Securities to assist it in the exploration of financing options, including potential capital raising, to enable the Group take advantage of its growing pipeline of potential development project opportunities.
  • Also among the large companies, Malta International Airport plc climbed 0.5% to the €4.05 level across 4,225 shares. The airport operator is due to reveal its 2016 financial results on 22 February.
  • RS2 Software plc trended higher for the first time in the last four trading sessions as it advanced 0.3% to the €1.765 level on two deals totalling 10,500 shares.
  • Malta Properties Company plc continued to recover some of the notable losses suffered recently as the equity added a further 3.8% to the €0.552 level albeit on thin volumes totalling 5,000 shares.
  • Low trading activity also took place in the equities of MIDI plc, Mapfre Middlesea plc and MaltaPost plc which closed unchanged at €0.33, €2.22 and €2.05 respectively.
  • HSBC Bank Malta plc held on to its near three-year high of €2.02 across 9,000 shares. The Bank is scheduled to publish its full-year results on 21 February.
  • Similarly, Simonds Farsons Cisk plc maintained its all-time high of €7.30 across 1,370 shares.

 

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