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  • The MSE Share Index extended yesterday’s gains as it advanced by a further 0.41% to yet another near nine-year high of 4,666.920 points. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index extended yesterday gains by a further 0.09% to a five-day high of 1,138.131 points. The benchmark 10-year German Bund yield hit an intra-day low of 0.249% today from a high of 0.299% yesterday.
  • Today’s uplift in the local equity index was largely driven by the 1.7% jump in the share price of HSBC Bank Malta plc which climbed to a fresh near three-year high of €1.978 across 45,073 shares. The Board of Directors of HSBC is set to meet on 21 February to consider and approve the preliminary statement of annual results for 2016 and also consider the declaration of a final dividend to be recommended during the Annual General Meeting to be held on 13 April 2017. Last Friday, the Bank also announced the redemption of its €58.2 million 4.6% subordinated bonds on 1 February 2017.
  • Also in the retail banking sector, Lombard Bank Malta plc advanced 1.3% to an eleven-month high of €2.33 albeit on a single deal of just 1,000 shares. Lombard is due to reveal its 2016 financial results on 9 March 2017.
  • Thin trading activity also took place in the equities of Medserv plc and Simonds Farsons Cisk plc which closed the day 3.1% and 2.8% higher at €1.66 and €7.25 respectively.
  • Malta Properties Company plc maintained the €0.571 level also on shallow volumes.
  • Among the large companies, GO plc held on to its near eight-month high of €3.30 after recovering from an intra-day low of €3.26. A total of 3,000 shares traded.
  • Similarly, Malta International Airport plc closed flat at €4.10 across 3,765 shares. This morning, MIA revealed its 2016 traffic results and provided forecasts for 2017. During 2016, MIA registered a 10% increase in passenger movements to a record of 5.08 million movements – the seventh consecutive year of record passenger movements. The airport operator is expecting a further growth of between 2% to 3% in passenger numbers during 2017 to 5.2 million. Furthermore, for the first time ever, MIA also presented a set of financial targets for the upcoming 12 months. MIA is expecting to generate €73 million in revenues in 2017 which should lead to an EBITDA figure of over €40 million and a net profit of over €20 million. MIA is also budgeting €18 million in capital expenditure whilst its net debt is estimated not to exceed €14 million in 2017. Moreover, annual taxes and dividend contributions to Government are expected to be in the region of €14 million.
  • In contrast, Bank of Valletta plc eased 0.4% to the €2.26 level on heightened activity totalling 76,063 shares. Tomorrow is the last trading day for entitlement to the bonus share issue as the equity turns ex-bonus on Friday.
  • The other negative performing equity today was RS2 Software plc which retreated by 0.2% to the €1.81 level across 17,900 shares.

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