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  • The MSE Share Index extended yesterday’s decline by a further 0.09% to 4,669.149 points. Trading activity was broad as twelve equites were active, seven of which trended lower, four posted gains whilst only Tigne’ Mall closed unchanged. Furthermore, trading volumes surged to a ten-month high of €1.26 million. Download a copy of today’s Equity Market Summary.
  • Following yesterday’s sharpest daily decline in nearly two weeks of -0.31%, the RF MGS Index rebounded by a minimal 0.02% to 1,120.583 points. The 10-year and 20-year benchmark German Bund yields retracted slightly from their respective over one-month highs of yesterday. On the economic front, following three months of declines, industrial production in France rose by 2% in March – well above the forecasted growth of +1%. Furthermore, France’s trade deficit narrowed by over 15% in March as exports increased whilst imports remained relatively unchanged. Further positive data was also released in Italy where industrial production increased by a better-than-expected 2.8% year-on-year in March. Meanwhile, comments made by the President of the European Central Bank Mario Draghi confirmed that the euro zone’s economic recovery “is becoming increasingly solid”. However, Mr Draghi also added that “it is too early to declare success”.
  • Once again, the most actively traded equity today was PG plc as 582,285 shares having a market value of €0.76 million changed hands. The share price climbed 3% to a new high of €1.308.
  • Relatively healthy volumes were also traded in RS2 Software plc which advanced 1.3% to the €1.55 level across 63,277 shares. Shareholders as at close of trading on 17 May are eligible to a final net dividend of €0.01 per share as well as a bonus share issue of one share for every twelve shares held.
  • International Hotel Investments plc erased some of yesterday’s decline as it rebounded by 1.6% from its nine-month low of €0.61 to recapture the €0.62 level across 10,000 shares. On Monday, IHI issued an Interim Directors’ Statement in which it explained that all of its owned and managed hotels registered an increase in revenue and gross operating profit in the first quarter of 2017 when compared to both budgeted figures as well as the corresponding period last year. IHI also referred to its growing business in the management of third party hotels as well as to progress made on its 50%-owned Corinthia Grand Hotel Astoria located in Brussels. Looking ahead, IHI is expecting that its full-year performance in 2017 will be better than that of 2016 and also ahead of budgets.
  • The equity of HSBC Bank Malta plc also performed positively today with a gain of 1% to the €2.019 level across 15,875 shares.
  • In contrast, Bank of Valletta plc retreated by 0.9% back to the €2.24 level on volumes totalling 49,050 shares. Today, the equity started trading without the entitlement to the recently declared net interim dividend of €0.0293 per share.
  • The equity of Malta International Airport plc lost 1.2% to a one-month low of €4.09 across 26,600 shares despite revealing a 26.6% year-on-year increase in passenger movements in April to a record of 530,576 passengers,
  • GO plc eased by 0.5% to the €3.479 level after recovering from an intra-day low of €3.40 (-2.8%). A total of 4,400 shares traded.
  • Medserv plc extended its recent negative trend as it declined by a further 3.5% to a fresh near twenty-one month low of €1.35 across 13,100 shares. The oil and gas logistics specialist is due to hold its Annual General Meeting (“AGM”) on 31 May.
  • Lombard Bank Malta plc slumped 5.3% to the €2.30 level albeit on trivial volumes.
  • In the property segment, Malita Investments plc and Plaza Centres plc both closed lower today. Malita shed 2.7% to the €0.72 level across 4,000 shares and Plaza Centres eased 1.9% lower to €1.04 on a single trade of 12,000 shares. Plaza’s AGM will be held on 31 May.
  • On the other hand, Tigne’ Mall plc maintained its eight-month low of €1.00 on encouraging volumes totalling 104,000 shares. The equity is still trading with the entitlement to a final net dividend of €0.0125 per share.

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