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  • The MSE Share Index ended this morning’s session in positive territory for the third consecutive day with a further 0.1% increase to 4,320.804 points. Nonetheless, the local equity benchmark still ended the week 0.7% lower as most of the large equities by market capitalisation drifted into negative territory over the past five sessions. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index moved 0.1% lower to 1,132.543 points as the 10-year German Bund yield rebounded to above the 0.6% level despite dovish minutes of the US Federal Reserve latest monetary policy meeting which indicated that the US central bank is likely to postpone its first interest rate hike since 2006.
  • The Hili Properties plc bond issue closed early due to over-subscription. The Company shall be announcing its allocation policy next Wednesday 14 October 2015.
  • HSBC Bank Malta plc was the only negative performer of the day as the equity closed 1.1% lower at the €1.81 level across low volumes of 5,160 shares.
  • On the other hand, following the publication of the September traffic results, Malta International Airport plc edged 0.8% higher to regain the €3.83 level (but still down 0.5% over the week) on low volumes of 4,000 shares. Yesterday’s company announcement revealed that the airport operator registered an 8.6% increase in passenger movements during the month of September to a new record for the month of 502,823 passengers – representing the third consecutive month with more than 500,000 passenger movements, a first for MIA. During the first nine months of the year, MIA registered a 7% increase in passenger movements to 3.62 million compared to the Company’s revised forecast for 2015 of a 4.6% increase to an estimated throughput of 4.5 million passengers for the whole year.
  • GO plc was the most actively traded equity of the day as 20,440 shares changed hands between an intra-day low of €3.40 to a closing high of €3.45, representing a 0.6% increase over the previous session.
  • The best performer of the day was Mapfre Middlesea plc as a single deal of just 2,000 shares reduced the extent of losses that the equity suffered during this week. The insurance Group closed the session 2.4% higher at the €2.17 level, but still ended the week 4.8% lower compared to last week’s multi-year high of €2.28.
  • Meanwhile, despite yesterday’s company announcement about Medserv plc‘s planned acquisition of METS Group, the equity ended the day unchanged at the €3.095 level across insignificant volumes of 1,500 shares. The announcement revealed that the Company will be acquiring METS for USD46 million by 23 February 2016. The METS Group, which is involved in the threading, repair, inspection and storage service for oil country tubular goods, maintains three certified sites in the United Arab Emirates, Oman and Iraq. Medserv intends to finance such an acquisition through a mix of debt and equity. Further details to be published ahead of an Extraordinary General Meeting (EGM) to be held in order to seek shareholder approval with respect to the aforementioned acquisition. In the meantime, the Company is holding another EGM next Monday asking shareholders to authorise the Board to disclose the required information requested by any offeror and its advisers to make, confirm, withdraw or modify any offer made to Medserv plc.
  • Bank of Valletta plc also closed unchanged at the €2.38 level across 15,300 shares. Last month marked the end of the BOV Group’s financial year with the preliminary results generally published by the end of October. Recently, the Bank also announced that it lodged an application with the Listing Authority for a subordinated debt issuance programme of a maximum of €150 million over the next twelve months. Further details will be issued in the Prospectus and Final Terms once approval is granted.

 

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