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  • The 0.4% decline in the MSE Share Index today trimmed the gains during the first week of January to 0.3%. Following a very positive start this week, the equity benchmark declined for the past three sessions. Today’s downturn was due to share price losses by HSBC, IHI and MIDI. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index registered its second decline for the year. The Index closed minimally lower at 1,107.781 points as European yields rebounded above the 0.5% level. The European Central Bank is reportedly considering a dual approach to government bond purchasing (quantitative easing) which involves buying the debt directly and sharing the risk with national central banks. This option is the most favourable mix, with no country seemingly opposing it. A firm decision will be taken in this regard during the next ECB monetary policy meeting on 22 January 2015.
  • Yesterday, the Treasury of Malta announced that the amount of issuance of Malta Government Stocks during 2015 will not exceed €500 million. The Treasury is aiming to spread its issuance programme over 3 to 4 issues with the first issue expected to take place in February 2015. The maturity structure of the 2015 MGS issue programme will be a mix of (i) 5 to 10-year stocks and (ii) stocks with maturities over 15 years. The full details of the stocks on offer and the respective amounts and maturities will be published 1 to 2 weeks prior to each offer.
  • HSBC Bank Malta plc slipped 1% back to the €2.00 level on a single trade of 2,000 shares. Similarly, the share price of International Hotel Investments plc shed 1.4% to the €0.57 level also on low volumes of 4,000 shares. Meanwhile, activity increased in the equity of MIDI plc, as 234,286 shares changed hands. The share price of the property developer dropped 4.6% back to the €0.21 level, thereby reversing the gains registered during the month of December.
  • Malta International Airport plc was the only local equity that ended today’s session on a positive note. The share price of the airport operator edged minimally higher to reach €2.361 on a single deal of 1,800 shares.
  • Meanwhile, Bank of Valletta plc held on to the 2.24 level as a further 45,649 shares changed hands today. The shares of BOV will continue to trade with the entitlement to the 1 for 11 bonus share issue until Wednesday 14 January. Similarly, Medserv plc held on to the €1.45 level on activity of 14,266 shares. On the Alternative Companies List, Loqus Holdings plc maintained the €0.14 level on minimal volumes of 2,000 shares.

 

 

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