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  • The MSE Share Index kicked-off the week slightly lower today as it eased by 0.16% from its nine-year high of 4,755.948 points last Friday. The declines in the share prices of the two largest companies by market capitalisation – BOV (-0.9%) and HSBC (-0.5%) – as well that of MIA (-0.9%) outweighed the gains registered in four other equities. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index moved lower for the fourth consecutive day today as it fell by a further 0.15% to a six-day low of 1,124.915 points. Euro zone sovereign yields rose when compared to last Friday (bond prices fell) reflecting heightened expectations that the US Federal Reserve will raise interest rates at its next monetary policy meeting scheduled to be held next week. On Friday, Fed chief Janet Yellen said that an increase in short-term interest rates this month would “likely be appropriate” if economic data continues to meet the central bank’s expectations. Meanwhile, in Europe, a poll showed Emmanuel Macron surpassing far-right leader Marine Le Pen in the first round voting intentions for the French Presidency. On the economic front, the result of a survey among investors and analysts in the eurozone showed that investor confidence rose by more-than-expected last month to reach the highest level since September 2007.
  • Most of today’s trading activity took place in the equity of Bank of Valletta plc which slipped 0.9% to the €2.19 level on strong volumes totalling 83,834 shares – representing 62% of the total value of equities traded.
  • Within the same sector, HSBC Bank Malta plc moved 0.5% lower to the €2.08 level across 16,660 shares. Shareholders as at 10 March 2017 will be eligible to receive a final net dividend of €0.027 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on 13 April 2017.
  • Malta International Airport plc closed 0.9% lower at the €4.20 level after partly recovering from an intra-day low of €4.151 (-2.1%). A total of 4,311 shares changed hands. Shareholders as at 6 April 2017 will be eligible to receive a final net dividend of €0.07 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on 10 May 2017.
  • Also among the large companies, GO plc and RS2 Software plc posted gains today. The share price of GO increased by 1.1% to the €3.569 level across 6,600 shares whilst two deals totalling 4,417 shares lifted R2S minimally higher to the €1.651 level (+0.1%). Shareholders of GO as at 29 March 2017 will be eligible to receive a net dividend of €0.11 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on 3 May 2017.
  • Medserv plc extended last Friday’s gains as it advanced by a further 0.3% to the €1.63 level across 7,500 shares. The Company is due to publish its 2016 financial results on 5 April 2017. Last week, the oil and gas logistics specialist announced the award of its largest contract ever. Medserv also revealed that it was not successful in its first tender to offer its services in Trinidad.
  • MIDI plc jumped 5.5% to a near seven-week high of €0.348 albeit on shallow volumes totalling 9,000 shares.
  • Meanwhile, Malita Investments plc maintained its two-year low of €0.77 on two deals totalling 15,760 shares. Shareholders as close of trading on Friday 24 March 2017 will be eligible to a final net dividend of €0.01482 per share subject to shareholders’ approval during an Annual General Meeting scheduled to be held on Thursday 27 April 2017.
  • This morning, Malta Properties Company plc announced that its Board of Directors is scheduled to meet on Tuesday 21 March to consider and approve the Company’s financial statements for the year ended 31 December 2016. The Board will also be considering the recommendation of a final dividend. The equity remained inactive today.

 

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