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  • The MSE Share Index was dragged 0.6% lower to 4,116.376 points following declines in the share prices of Bank of Valletta plc, HSBC Bank Malta plc and International Hotel Investments plc. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.2% higher to 1,115.297 points possibly reflecting the continued decline in the benchmark 10-year German Bund yield to just above the 0.8% level. Moreover, the 10-year yields in Spain and Italy, two of the region’s peripheral countries, also retreated today. Greece’s parliament should be voting today on the austerity measures requested by country’s international creditors whilst the International Monetary Fund (IMF) wants a large debt relief in order for it to remain part of Greece’s bailout.
  • Yesterday, 6pm Holdings plc published a Prospectus dated 8 July 2015 in connection with a new €13 million bond issue. The 6pm bonds are reserved for shareholders as at the close of trading on 4 June 2015.
  • HSBC Bank Malta plc dropped 2.7% back to the €1.78 level for the first time since mid-March on strong volumes totalling 55,712 shares. The Bank is scheduled to publish its interim results on Monday 3 August.
  • Similarly, the equity of Bank of Valletta plc eased 0.3% lower back to the €2.294 level across sixteen deals totalling just under 50,000 shares. Last Monday, BOV issued its Interim Directors’ Statement informing the market that its financial performance since 1 April 2015 was in line with expectations. BOV reported strong growth in home loans while customer deposits continued to grow especially in the short-term category resulting in a positive impact on the net interest margin of the Bank. BOV also indicated that commissions earned on the sale of financial products continued to grow while other income generated from foreign exchange transactions and investment portfolio gains improved. Meanwhile, costs were higher than those of previous years and impairment charges on specific accounts increased reflecting the deteriorating quality of such accounts.
  • The only other negative performing equity today was International Hotel Investments plc as it shed 1.2% to move back to the €0.85 level on a single trade of just over 6,000 shares. IHI recently announced that holders of an aggregate of 94.28% of the shares in Island Hotels Group Holdings plc (IHG) have submitted their acceptance form in connection with the offer made by IHI to acquire the entire issued share capital of IHG. The remaining shareholders of IHG have until 31 July to respond to the offer.
  • On the other hand, Malta International Airport plc continued to recover and the equity edged up 0.6% to regain the €3.48 level across 11,860 shares. The airport operator is shortly expected to issue the June traffic results and the updated passenger forecast for 2015. Meanwhile, the interim financial statements will be published on 29 July.
  • RS2 Software plc reached yet another all-time high of €2.225 representing a 0.2% increase over the previous closing price on volumes of 13,440 shares.
  • GO plc also performed positively with a minimal increase to €3.58 on volumes of 10,206 shares. The telecoms quad-play operator is scheduled to hold an extraordinary general meeting (EGM) on Wednesday 22 July in connection with the proposed property spin-off.
  • Meanwhile, Medserv plc maintained its all-time high of €2.355 as a further 10,100 shares change hands at this level.
  • The only other active equity during this morning’s session was Mapfre Middlesea plc which ended today’s session unchanged at €1.675 on low volumes of 3,475 shares.


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