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  • Last Friday’s retreat by the MSE Share Index was short-lived as the local equity benchmark resumed its upward trend this morning with a 0.9% uplift to yet another 7-year high of 4,057.600 points as most active equities traded higher. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index retreated by 0.4% to a new 20-week low of 1,125.149 points as the indicative bid prices of the Central Bank of Malta declined today reflecting the recent rally in eurozone yields. On the other hand, benchmark 10-year Eurozone yields dropped back to the 0.83% level this morning on increased fears that Greece may default on its loans and be forced to exit the eurozone.
  • Most notably, the share price of International Hotel Investments plc advanced by 2.1% to a fresh 18-month high of €0.92 on strong volumes of 115,150 shares across twenty deals. Last week, IHI held its Annual General Meeting during which shareholders approved all the items on the agenda including the proposed acquisition of Island Hotels Group Holdings plc for €50 million payable in a mix of cash and new IHI shares. The Chairman announced that the company is in discussions with the MFSA in connection with offering alternative financial instruments to the company’s free-float shareholders.
  • Similarly, MIDI plc climbed by 4.6% to a fresh 3-year high of €0.34 across four deals totalling 35,000 shares.
  • Medserv plc was also among the positive performers today with a 3% rise to a new all-time high of €2.225 across six deals totalling 22,300 shares. Medserv is scheduled to distribute the recently approved net dividend of €0.056 per share by not later than 23 June.
  • Likewise, the equity of RS2 Software plc hit a fresh all-time high of €1.72 which represents a 1.2% increase from the adjusted closing price of €1.70 of last Friday taking into account the 2-for-1 share split. A total of 50,880 shares changed hands today.
  • Simonds Farsons Cisk plc also reached a new all-time high of €3.95, up 5.1% from the equity’s previous closing price, albeit on shallow volumes of 385 shares.
  • GO plc’s share price also touched a fresh multi-year high of €3.16 during this morning’s trading session before easing back to close at the €3.15 level which still represents a 0.3% increase over the previous closing price. A total of 43,250 shares changed hands today across nine deals.
  • The other positive performers were HSBC Bank Malta plc (+1.1% to €1.82) and Malta International Airport plc (+0.3% to €3.37).
  • Meanwhile, Bank of Valletta plc held on to the €2.29 level across nine trades totalling 16,777 shares.
  • Also in the financial sector, FIMBank plc maintained the USD0.465 level across 30,233 shares and Mapfre Middlesea plc held on to the €1.86 level on just 2,000 shares.
  • Likewise, the equity of Malita Investments plc ended this morning’s session unchanged at the €0.94 level on a single trade of 1,710 shares.

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