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  • The MSE Share Index advanced by a further 0.28% to 4,449.015 points today, reflecting the gains in the share prices of BOV, FIMBank and RS2 which outweighed the declines of HSBC and GO. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index trended lower for the third consecutive day as it declined by a further 0.08% to a near two-week low of 1,149.315 points. The 10-year yields of the two largest peripheral countries – Italy and Spain – closed the gap with their German counterpart today. Indeed, whilst the benchmark Bund advanced from yesterday’s record low of -0.034% to 0.013%, the yields of the 10-year Italian and Spanish papers retreated by 4.2 and 3.1 basis points to 1.404% and 1.535% respectively. On the economic front, euro zone industrial production rose 1.1% in April. Furthermore, the euro zone has recorded its highest ever trade surplus in April as the 1.0% fall in the value of exports was more than outweighed by the 5.0% fall in imports.
  • Most notably, FIMBank plc recaptured the USD0.90 level (+3.4%) for the first time in these last six years on volumes totalling 115,374 shares having a market value of nearly €0.92 million – representing 46% of today’s total value of equities traded. Last week, the trade finance specialist published an Interim Directors’ Statement whereby it revealed that it registered profits in each of the first five months of 2016 on the back of certain cost control measures. Meanwhile, the Bank also started a process of restructuring its factoring network, which is expected to show positive results in the near future.
  • Within the same segment, Bank of Valletta plc advanced by 0.7% to the €2.215 level across 10,434 shares.
  • The other positive performing equity today was RS2 Software plc as the share price climbed 0.3% to regain its three-week high of €3.50 across 12,000 shares. RS2 is due to hold its AGM on 23 June during which shareholders will be asked to approve a number of resolutions including a 5 for 3 share split (cut-off date: 30 June).
  • In contrast, HSBC Bank Malta plc and GO plc both registered losses today. HSBC slipped by 0.3% back to the €1.595 level across 5,168 shares whilst GO closed at the voluntary bid price of €2.87 (-0.7%) on light volumes totalling just 2,550 shares. GO shareholders as at today will be receiving a copy of the Offer Document by 24 June setting out the terms and conditions of Tunisie Télécom’s voluntary offer to acquire all the shares of GO. The acceptance period for eligible GO shareholders to accept this offer starts on 24 June 2016 and ends on 22 July 2016.
  • Meanwhile, Malta International Airport plc maintained the €4.30 level across 1,160 shares.
  • Shallow trading activity also took place in the equities of MIDI plc and Medserv plc. Both closed unchanged at €0.38 (1,000 shares) and €1.75 (1,176 shares) respectively.
  • Two single deals totalling 3,756 and 1,775 shares left the equities of Mapfre Middlesea plc and Simonds Farsons Cisk plc unchanged at the €2.20 and €6.31 levels respectively. Farsons will be holding its AGM on 28 June during which, amongst other resolutions, shareholders will be asked to approve the payment of a final dividend (out of tax exempt profits) of €0.0733 per share.

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