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  • In contrast to the previous three sessions, the MSE Share Index edged 0.7% higher to 3,215.115 points as the share price of BOV, GO, FIMBank, MaltaPost and Middlesea insurance rose. These offset the declines in HSBC and Island Hotels Group whilst the IT equities ended the session unchanged. Download a copy of the Equity Market Summary.
  • The upward trend in the local MGS market entered its eight consecutive session with the Rizzo Farrugia MGS Index hitting a new 27-month high of 1,009.525 points as benchmark 10-year German Bund yields again slid lower to just below the 1.52%. Economic data published this morning showed that the German economy contracted by 0.5% in the fourth quarter of 2012 as eurozone’s powerhouse was impacted by the prevailing crisis in the region. This reignited appetite for safe haven assets.
  • BOV’s equity traded higher in the first session following the adjustment to the 1 for 9 bonus share issue. The share price rose by 1.9% from yesterday’s adjusted closing price of €2.16 (equivalent to the €2.40 pre-bonus price) to €2.20 across twelve trades totalling just over 48,500 shares. The new shares will be issued on Thursday 17 January 2013 with trading expected to commence shortly afterwards.
  • The share price of FIMBank rose by 12.5% to the US$0.90 level as the equity was active for the first time this year. 14,000 shares traded today with further demand remaining outstanding at the US$0.885 level.
  • Also in the financial sector, Middlesea Insurance rose by 6.7% to the €0.80 level on low volumes of 500 shares.
  • Similarly, GO edged a further 1.6% higher to an almost 17-month high of €1.25 on a small deal of 500 shares with further offers remaining unsatisfied at the closing price.
  • The share price of MaltaPost edged higher for the second consecutive session with a further 2.1% increase to a new 8-month high of €0.96 across 10,000 shares. Further bids for the shares of the postal operator remain unsatisfied at the closing price with lowest offers at the €0.97 level.
  • On the other hand, HSBC’s share price retreated for the third time in the last four sessions with another 1.4% drop back to the €2.702 level on volumes of 15,980 shares.
  • The negative trend in Island Hotels Group Holdings persisted with a further 0.7% decline to a new all-time low of €0.685, representing a 13.3% drop since the start of the year and a 31.5% plunge from its October 2009 IPO price.
  • RS2 Software held on to its all-time high of €0.85 across five trades totalling 31,773 shares.
  • Crimsonwing closed unchanged at the €0.55 level on volumes of just over 46,000 shares.
  • Significantly lower volumes were transacted in 6pm with a single trade of 3,880 shares executed at the GBP0.31 level.

 

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