• Despite gains in GO and Medserv, the MSE Share Index retreated by 0.3% to 3,338.554 points, as the equities of the two large banks closed in negative territory. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index declined marginally to 1,090.698 points. Benchmark yields recovered partially earlier on today despite rumours that next week the German government will cut its economic growth forecasts for 2014 and 2015. Earlier this week, the President of the European Central Bank Mr Mario Draghi vowed that the ECB is determined to prevent the eurozone falling into deflation. However, he warned that monetary policy will not be sufficient for the single currency bloc to resume sustained growth.
  • Two new bond issues were launched earlier on this week. Hal Mann Vella Group plc published a formal notice in connection with the issue of €30 million 5.0% Secured Bonds 2024 and United Finance plc announced the issue of €8.5 million 5.3% Unsecured Bonds 2023. Further information available from www.rizzofarrugia.com
  • The share price of GO plc rallied by 3.5% to close at a fresh multi-year high of €2.68 on increased volumes of 49,254 shares across 21 trades. GO remains the top performer of 2014 with a year-to-date increase of 46.8%.
  • Medserv plc also performed positively today with a 2% increase to the €1.30 level across 7 deals totalling 56,300 shares. Medserv’s equity closed the week at a 5-month high.
  • The share price of Bank of Valletta plc dropped 1.3% to the €2.231 level on shallow volumes of 3,625 shares. The market now awaits the publication of the September 2014 full-year results due by the end of October.
  • HSBC Bank Malta plc failed to hold on to the intra-day high of €2.00 with the equity succumbing to some selling pressure as it closed at the €1.96 level, representing a 1.5% decline from yesterday’s close.
  • Meanwhile, no change was registered in the share price of Malta International Airport plc, as a single trade of 2,500 shares was executed at the €2.34 level.

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