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  • Following three consecutive sessions of gains, the MSE Share Index eased by 0.2% during this morning’s session to 3,058.953 points as most of the active equities, including BOV, traded lower. Meanwhile the only two positive performing equities, GO and MIA, reached new 2012 highs. Download a copy of the Equity Market Summary. Over the week, the local equity benchmark rose 0.5% mainly due to the 18.6% rally in GO.
  • On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 984.390 points as Eurozone yields remained around the 1.50% level. Markets now await this weekend’s Greek general election results to gauge whether Greece will remain in the Eurozone or not. In this respect, central banks from major economies have agreed to coordinated actions to provide liquidity should the Greek election results cause further turmoil in financial markets.
  • Yesterday afternoon, the Treasury of Malta published the prices of the three new Malta Government Stocks, as follows: (i) 3.75% MGS 2017 (IV) at 102%; (ii) 4.3% MGS 2022 (II) FI at 100.25% and (iii) 5.1% MGS 2029 (I) at 101%. Subscriptions for these stocks open next Monday 18 June. Further details and copies of the application forms available here.
  • GO in positive territory for the sixth consecutive session as further bids lifted the equity to a new 9-month high of €1.17 before easing to a close of €1.15 which still represents a 4.6% rise over the previous close. A total of 94,600 shares changed hands today across fourteen trades with lowest offers in the market at €1.17 and highest bids at the €1.135 level. The equity of the quad-play telecom operator closed the week as the best performing equity with an 18.6% increase and now ranks as the top performer this year with a year to date increase of 17.4%.
  • MIA also hit a new 14-month high of €1.77 on low volumes of 2,950 shares. The airport operator ended the week 1.7% higher on the back of the record number of passengers during the month of May. Further details available here.
  • On the other hand, BOV slid 1% lower back to the €2.07 level across sixteen trades totalling 36,403 shares. Shortly after today’s trading session, the Bank announced that that its Chairman Mr Roderick Chalmers will resign from his post due to personal reasons connected with the loss of a close member of his family.
  • HSBC shares again held on to the €2.52 level to end the week unchanged. Four trades amounting to 13,138 shares were transacted today with best bids in the market at €2.50 and lowest offers at the €2.54 level.
  • Also in the financial sector, Lombard Bank and Middlesea Insurance traded lower on weak activity. Lombard slid 2.2% to a new 90-month low of €2.20 with Middlesea’s share price dropping 2.3% to the €0.63 level.
  • MIDI also in negative territory as 500,000 shares changed hands at the €0.335 level – a new all-time low for the equity. No other bids in sight with other offers of 4,500 shares remaining outstanding at the last traded price.
  • On the IT front, Crimsonwing initially plunged 33.3% to €0.20 before regaining the €0.28 level but still representing a 6.7% drop from the previous close. 10,000 shares were exchanged today with no bids in sight and lowest offers at the €0.289 level. The IT Company recently announced that it agreed to acquire the remaining 49% of the issued share capital of Promentum Holding BV through the issuance of 2,940,000 shares at a price of €0.30 and a 4-year loan.
  • Meanwhile RS2 Software held on to the €0.50 level on volumes of over 39,000 shares to close the week unchanged. A total of 2,499,956 new RS2 shares were admitted to the Official List as from today pursuant to the 1 for 15 bonus issue as approved by the shareholders during this week’s Annual General Meeting.

 

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