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  • The MSE Share Index moved lower for the third consecutive day as it slipped by a further 0.02% to a one-week low of 4,668.129 points. Trading volumes remained strong as just over €1 million worth of shares changed hands. However, most of today’s trading activity took place in just two equities – PG and BOV. Both these equities accounted for nearly 70% of the total value of equities traded. Download a copy of today’s Equity Market Summary.
  • On the bond market, yesterday’s rebound in the RF MGS Index was short-lived as it fell by 0.08% today to a near two-week low of 1,119.696 points. The 10-year and 20-year benchmark German Bund yields rose to fresh multi-week highs. Similarly, the corresponding yields of the two largest peripheral countries – Spain and Italy – also advanced notably. Overall, bond markets are now anticipating that the US Federal Reserve will raise its key interest rate again during its next monetary policy meeting scheduled for 14 June 2017. Meanwhile, economic data issued today in Germany showed that the prices of goods sold by wholesalers – a leading indicator of consumer price inflation – rose by a better-than-expected 0.3% month-on-month in April but stayed at +4.7% year-on-year.
  • PG plc finished the day in negative territory for the first time since the equity started to trade last week. The share price eased by 1.4% to the €1.29 level. A total of 352,406 shares traded having a market value of €0.46 million.
  • Bank of Valletta plc retreated by 1.7% to an over five-week low of €2.201 on high volumes totalling 109,401 shares.
  • Malta Properties Company plc slumped 5.4% to the €0.511 on trivial volumes.
  • Within the same sector, Malita Investments plc maintained its over two-year low of €0.72 across 54,825 shares.
  • Similarly, Medserv plc maintained its near twenty-one month low of €1.35 across two deals totalling 24,350 shares. The oil and gas logistics specialist is due to hold its Annual General Meeting (“AGM”) on 31 May.
  • Four of the largest companies by market capitalisation posted gains today. The best performer was RS2 Software plc which recaptured the €1.60 level (+3.2%) across 32,427 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.
  • HSBC Bank Malta plc advanced by 1.3% to the €2.045 level across five deals totalling 25,000 shares.
  • GO plc erased most of yesterday’s decline as it rebounded by 0.5% to the €3.496 level across 12,000 shares.
  • The equity of Malta International Airport plc bounced back by a minimal 0.1% from its one-month low of €4.09 to the €4.095 level after opening at an intra-day high of €4.12. A total of 15,790 shares changed hands. On Tuesday, MIA revealed that it welcomed 530,576 passengers in April – a record for the month and 26.6% growth year-on-year.
  • Simonds Farsons Cisk plc gained 0.4% to reach yet another record high of €7.53 across 3,500 shares. Last week, Farsons published its preliminary results for the financial year ended 31 January 2017 showing a marked improvement in net profits to a record of €12.1 million. The Directors recommended a final net dividend (out of tax exempt profits) of €0.08 per share, representing a 9.1% increase over the final net dividend paid out in respect of the previous financial year. The dividend will be paid on 28 June 2017 to all shareholders as at close of trading on 24 May 2017 subject to shareholders’ approval at the upcoming AGM scheduled to be held on 28 June 2017. The Group also explained the way forward for the spin-off of its property management division later on this year.

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