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  • The MSE Share Index trended in negative territory for the third consecutive session with a further 0.87% drop to a fresh 11-week low of 4,611.884 points largely due to the 3.8% drop in BOV. A further five equities trended lower today whilst IHI and Santumas moved higher. Meanwhile, HSBC and MIDI closed today’s session unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index edged marginally higher to an almost 6-week high of 1,127.814 points as euro zone sovereign yields remained below the 0.5% mark.
  • Further selling pressure emerged in Bank of Valletta plc today as the equity retreated for the fourth successive session with a decline of a further 3.8% to a new 2017 low of €2.00 across 27 trades totalling 82,729 shares. This afternoon, BOV published its extracts from the management accounts covering the first six months of 2017. During the period, the BOV Group reported a 7.9% increase (excluding the €22 million one-off gain registered in the first half of 2016) in pre-tax profits to €68 million as the downward pressure on net interest income was outweighed by the growth in non-interest income as well as a €6 million reversal of impairments. The Bank will publish another set of results covering the 12-months ending 30 September by the end of October and preliminary results covering the fifteen months ending 31 December (BOV is changing its financial year end) by the end of March 2018. BOV is also planning a €150 million rights issue to strengthen its capital base.
  • Malta International Airport plc eased by 0.2% back to the €4.22 level after only partially recovering from an intra-day low of €4.20 on total volumes of 8,500 shares.
  • Similarly, RS2 Software plc touched an intra-day low of €1.75 before rebounding but still ended today’s session minimally lower at the €1.789 level across 10,750 shares.
  • Medserv plc declined by 4% back to the €1.20 level across three deals totalling 56,600 shares. Medserv is scheduled to publish its 2017 interim results on 23 August.
  • Malta Properties Company plc also shed 1.9% to move back to the €0.505 level on heightened volumes of 105,900 shares. This morning, the property company released its 2017 interim results revealing a 21.6% drop in pre-tax profits to €0.73 million on the back of a decrease in revenue (as some of the properties previously leased out were handed over ahead of the redevelopment projects) as well as higher operational costs (reflecting the Group’s growing operations) which offset the decline in finance costs. The Directors did not declare an interim dividend.
  • The only other negative performing equity today was PG plc with a 0.6% decline back to the €1.39 level on shallow volumes of 1,700 shares. PG is scheduled to release its results for the financial year ended 30 April 2017 on Thursday 10 August.
  • On the other hand, the share price of International Hotel Investments plc edged marginally higher to €0.601 across two deals totalling 13,894 shares.
  • Likewise, Santumas Shareholdings plc moved 0.1% higher to a new 2017 high of €2.15 on low volumes of 5,000 shares.
  • Meanwhile, HSBC Bank Malta plc held on to the €2.00 level also on low volumes of 5,344 shares. The equity will trade with the entitlement to the net interim dividend of €0.03 until tomorrow. HSBC Malta shares will turn ex-dividend as from Wednesday 9 August.
  • MIDI plc maintained the €0.31 level as a further 27,000 shares changed hands today.

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