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  • The MSE Share Index edged 0.2% higher to 3,734.621 points on the back of increases in the share prices of BOV, Farsons, Medserv and MaltaPost which offset the declines in HSBC, GO and MIA. Meanwhile, a further three equities ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to yet another all-time high of 1,174.880 points as the benchmark 10-year Eurozone yields remained under pressure. In fact, by this afternoon, 10-year Bund yields reached a new all-time low of 0.145%.
  • Following two consecutive sessions of heavy declines, the share price of Bank of Valletta plc rebounded by 1.4% during this morning’s session to regain the €2.231 level across eighteen deals totalling 45,890 shares. The Bank’s share price lost 7.9% in the two trading sessions following last Thursday’s announcement revealing that legal proceedings have been instituted against it before an Italian Court whereby BOV is being requested to pay a sum of up to €363 million. The Bank has received a legal opinion clearly stating that there is no basis at law for the claim being made before the Italian Court and that the Bank should reject the claim against it as completely unfounded. BOV confirmed that further announcements will be made in the event of any significant developments in this respect. Meanwhile, the Bank generally publishes its half-year results, covering the six months ended 31 March, by the end of April.
  • Elsewhere, three other equities performed positively with two touching new all-time highs. The share price of Medserv plc touched a new all-time high of €2.00 before easing back to close the session at the €1.98 level which still represents a 3.6% increase from the previous closing price. A total of 6,200 shares changed hands today across three deals.
  • Likewise, the share price of Simonds Farsons Cisk plc opened the day at a fresh all-time high of €3.301 before easing to the €3.27 level representing a 2.2% rise from the previous close price on volumes of 3,108 shares.
  • Similarly, MaltaPost plc edged 0.1% higher on just 582 shares to close at the €1.422 level, minimally below its all-time high of €1.425.
  • On the other hand, a number of equities closed lower including HSBC Bank Malta plc which dropped for the third consecutive day. The Bank’s equity slipped by a further 0.5% to €2.039 across nine trades totalling 13,270 shares.
  • GO plc’s share price also shed 1.1% to fall back to the €2.84 level across three deals totalling 10,000 shares. Similarly, Malta International Airport plc eased minimally lower to €3.499 on just 797 shares.
  • Meanwhile, Middlesea Insurance plc maintained the €1.20 level on a single trade of 3,703 shares and MIDI plc held on to the €0.27 level across 110,000 shares. Malita Investments plc shares also ended the session unchanged at the €0.97 level after failing to hold on to a fresh all-time high of €0.99 across three deals totalling 14,500 shares.
  • This afternoon, Tigné Mall plc published its 2014 financial statements revealing a 23% increase in pre-tax profits to €2.32 million on the back of increased revenue (continued growth in footfall and tenant sales) and declining net interest expenses (on further debt repayments). The Directors also noted that the results exceeded the Company’s projections with pre-tax profits coming in 6.3% above the projected pre-tax profit figure of €2.18 million published in the IPO Prospectus dated 20 March 2013. The Directors recommended an unchanged final net dividend of €0.0125 per share to all shareholders as at close of trading on 7 May 2015.

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