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The MSE Share Index partially recovered yesterday’s drop as it advanced by 0.11% to 4,468.232 points. RS2 and MIA extended their positive momentum whilst BOV dropped despite still trading with the entitlement to the final dividend. Meanwhile, trading volumes decreased noticeably to a value of just over €168,000 compared to yesterday’s level of €390,000. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index advanced by a further 0.11% to 1,130.376 points as the 10-year German bund yield declined slightly to 0.64% today. Expectations are growing that the European Central Bank (ECB) will reduce its deposit rate further into negative territory next month while the U.S. Federal Reserve looks set to increase rates.

Yesterday, Bank of Valletta plc 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.

The equity of Malta International Airport plc advanced by 1.3% to regain its all-time high of €4.00, reached in late July 2015, albeit on low volumes of 2,853 shares. Last week, the airport operator published its October traffic results revealing a 10.2% increase in passenger movements bringing the growth in the first ten months of 2015 to +7.4%.

RS2 Software plc continued to trade up to new record levels and closed the day 1.1% higher at €2.779 after touching an intra-day high of €2.78. A total of 6,715 shares traded today.

The other positive performers of the day were GO plc and HSBC Bank Malta plc as the equities advanced by 1.0% and 0.5% to €3.15 and €1.87 respectively.

Despite still trading with the entitlement to the final dividend, the equity of Bank of Valletta plc dropped a further 0.8% and closed at the €2.40 level across 25,616 shares. 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.

Medserv plc lost some of its recent gains as the equity closed 0.9% lower at the €2.15 level across 6,460 shares.

International Hotel Investments plc and Malita Investments plc also featured amongst the negative performers with declines of 0.1% and 1.1% to €0.845 and €0.92 respectively albeit on shallow volumes.

 

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