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The MSE Share Index dropped by 0.14% from yesterday’s multi-year high to 4,463.305 points as the negative performance of GO, Mapfre and Plaza outweighed the gains in four other equities. For the second consecutive day, RS2 Software and Tigne’ Mall closed at new record highs. Meanwhile, trading volumes remained high with just over €390,000 worth of shares changed hands. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index partially recovered yesterday’s decline as it advanced by 0.24% to 1,129.174 points as the 10-year German bund yield declined from yesterday’s high of 0.72% to 0.65% today. The drop in eurozone yields came after the international news agency Reuters suggested that the European Central Bank is likely to be more aggressive in cutting the deposit rate than the market is currently anticipating. In the meantime, the gap between the U.S. and the German two-year government bond yield reached their widest in nine years, further highlighting the divergence of the monetary policies of these major central banks.

Bank of Valletta plc today confirmed the publication of a Prospectus dated 16 October and a Supplement dated 9 November 2015 in connection with the recently announced €150 million Subordinated Debt Issuance Programme. BOV also published the Final Terms confirming the issuance of the first tranche of €75 million 3.50% Subordinated Notes maturing in 2030. Tranche 1 is split into Series 1 (minimum €25,000 per application) and Series 2 (minimum €5,000 per application). €40 million has been reserved for preferred applicants (shareholders, directors and employees) who must submit all information by 30 November. Other investors must apply by 2 December.

GO plc shed 2.5% to the €3.12 level across 37,000 shares. The shares of Malta Properties Company plc will begin trading on 24 November.

The other negative performers were Mapfre Middlesea plc and Plaza Centres plc. The share price of the insurance specialist dropped 0.9% from yesterday’s multi-year high to close the day at the €2.30 level on an insignificant trade of 50 shares. On the other hand, activity in Plaza increased to 62,550 shares with the equity easing by 0.5% to the €0.965 level.

For the second consecutive day, the equities of RS2 Software plc and Tigne’ Mall plc closed at fresh all-time highs. Following the 4.8% increase yesterday, RS2 advanced by a further 0.9% to the €2.75 level across 11,000 shares after recovering from an intra-day low of €2.70. On the other hand, Tigne’ Mall edged up 0.5% to the €0.97 level across 25,000 shares. Last week, the property company issued its Interim Directors’ Statement explaining that profitability during the first three quarters of the year increased when compared to the corresponding period last year. The Company is also anticipating a positive performance for the final quarter of the financial year.

Yet, the best performing equity today was Malita Investments plc as two trades totalling 8,000 shares pushed the share price of the property company up by 1.1% to the €0.93 level.

HSBC Bank Malta plc also ended up in positive territory as the equity advanced by 0.3% to the €1.86 level across 17,112 shares.

Also in the banking sector, the equities of Bank of Valletta plc (23,619 shares) and FIMBank plc (15,000 shares) closed unchanged at €2.42 and USD0.45 respectively. BOV shareholders as at close of trading next Friday 13 November will be entitled to receive a final net dividend of €0.05525 per share which is payable on 18 December. Moreover, a bonus share issue of 1 new share for every 12 shares will also be distributed to those shareholders as at close of trading on 13 January 2016.

The equities of Medserv plc and Malta International Airport plc also ended the day unchanged at €2.17 and €3.95 respectively.

 

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