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  •  The MSE Equity Price Index extended yesterday’s gains of 0.71% by a further 0.59% to an over two-week high of 4,470.561 points as the increases in the share prices of six equities outweighed the declines in four other shares. Meanwhile, IHI closed the day unchanged. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index retreated by 0.04% from its over five-month high of 1,134.301 points to 1,133.804 points. Movements in euro zone sovereign yields were mixed today ahead of the commencement of the two-day monetary policy meeting of the US Federal Reserve. The Fed is widely expected to raise interest rates by a further 25 basis points despite indications that inflationary trends might remain sluggish in the near term. On the economic front, an index gauging the level of confidence among institutional investors and analysts across the single currency area dropped by more than expected in December.
  • Most of today’s trading activity once again took place in the equity of Bank of Valletta plc which regained the €1.82 level (+1.1%) on robust volumes totalling 152,191 shares. Last Thursday, BOV announced the result of the €150 million 1-for-4 Rights Issue. The total amount of subscriptions amounted to €197 million, resulting in an oversubscription of approximately €47 million. Subscriptions for lapsed rights by existing shareholders will be scaled down in accordance with the allocation policy to be announced by 19 December 2017. Refunds of unallocated monies in respect of lapsed rights applied for by existing shareholders will be effected by 28 December 2017.
  • Also in the banking sector, FIMBank plc surged by a further 7.9% to the USD0.70 level across 25,000 shares whilst Lombard Bank Malta plc gained 2.2% to the €2.28 level on two deals totalling 2,972 shares.
  • Malta International Airport plc advanced by 0.3% to recapture the €4.68 level across 2,566 shares. Last Thursday, MIA published the November 2017 traffic results revealing a 15.8% increase in passenger movements over November 2016 to 405,724 movements – a record for the month of November. The growth registered last month was due to the 19.2% increase in seat capacity. Meanwhile the seat load factor dropped to 79% compared to 82.4% in November 2016.
  • RS2 Software plc erased yesterday’s decline as it rebounded by 3.2% to the €1.528 level on five deals totalling 16,600 shares.
  • The other positive performing equity today was Medserv plc which trended higher by 1.7% back to the €1.12 level across 14,000 shares.
  • HSBC Bank Malta plc eased by 0.5% to the €1.79 level albeit on a single deal of just 2,846 shares.
  • GO plc retreated by 0.8% to the €3.55 level across 4,200 shares.
  • Mapfre Middlesea plc (6,012 shares) and Malta Properties Company plc (22,000 shares) also traded lower today. The insurance specialist shed 1.8% to the €1.782 level whilst Malta Properties closed at its lowest price at the €0.442 level. Last week, MPC issued a company announcement updating the market on the sale process of the Sliema Old Exchange previously disclosed on 31 January 2017. In this respect, the company revealed that the promise of sale agreement that was valid and effective up to the 31 January 2018 has been extended till 1 August 2018.
  • Meanwhile, International Hotel Investments plc maintained the €0.62 level after opening 0.8% lower at the €0.615 level. A total of 12,227 shares changed hands.

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