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  • The MSE Share Index posted its third consecutive daily loss as it retreated by a further 0.07% to a fresh five-day low of 4,718.416 points. Trading activity was spread across eight equities with only RS2 performing negatively whilst Malita Investments and GO ended the day higher. Meanwhile, another five equities closed unchanged. Trading volumes dropped markedly from yesterday as only €0.26 million worth of shares changed hands today. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index erased some of yesterday’s gains as it slipped by 0.12% to 1,121.724 points. Euro zone sovereign yields gained today (bond prices fell) following comments made yesterday by US Federal Reserve chief Janet Yellen who, during her testimony to Congress, said that the Fed would likely need to raise short-term rates at an upcoming meeting should the US economy keeps up with its good momentum and inflation continues to increase. She also said that it “would be unwise” if the Fed were to wait too long to hike rates. In parallel, however, Ms Yellen also acknowledged that the US economy faces an uncertain path under the administration of the newly-elected President Donald Trump and declared that “monetary policy is not on a pre-set course”.
  • Subscriptions from the General Public for the three new Malta Government Stock issues close today.
  • RS2 Software plc dropped 1.7% to a fresh near two-month low of €1.70 across four deals totalling 11,930 shares.
  • In contrast, GO plc gained 0.3% to a new near nine-month high of €3.47 across 17,680 shares. This morning, the telecoms group announced that its Board of Director is scheduled to meet on Tuesday 21 February to consider and approve the 2016 financial results. The Directors will also consider recommending the payment of a dividend to shareholders at the upcoming Annual General Meeting.
  • Malita Investments plc rebounded from its two-year low of €0.801 to the €0.83 level (+3.6%) on heightened activity totalling 109,100 shares. The Company is expected to reveal its 2016 financial performance on Tuesday 28 February. The Directors will also consider recommending the payment of a dividend.
  • Also in the property segment, a single deal of just 4,500 shares left the equity of Malta Properties Company plc unchanged at the €0.54 level.
  • HSBC Bank Malta plc and Malta International Airport plc also closed flat at €2.04 and €4.15 respectively on shallow volumes. The two companies are due to publish their 2016 results next week.
  • Bank of Valletta plc held on to the €2.185 level across 25,729 shares whilst Simonds Farsons Cisk plc maintained its all-time high of €7.30 on two deals totalling 2,285 shares.

 

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