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  • Following the minimal drop of 0.05% last Monday, the MSE Share Index rebounded strongly as it gained 0.67% to a near two-week high of 4,685.930 points, mainly reflecting the gains in the share prices of BOV (+2.6%) and HSBC (+1%) which outweighed the drops in four other equities. Trading volumes improved to a five-day high of €0.32 million. Download a copy of today’s Equity Market Summary.
  • Last Monday, Grand Harbour Marina plc announced the allocation policy with respect to the recently issued €15 million 4.5% unsecured bonds maturing in 2027. In total, the Company received 1,285 applications for an aggregate value of just over €15.8 million. Interest on the new bonds will commence on 22 August 2017. The new bonds are expected to be admitted to listing on the Malta Stock Exchange on 22 August 2017 and trading is expected to commence on 23 August 2017.
  • Bank of Valletta plc trended higher for the third consecutive trading session as it added a further 2.6% to a near two-week high of €2.14 across seventeen deals totalling 42,349 shares.
  • Within the same sector, HSBC Bank Malta plc regained the €1.94 level (+1%) across 9,577 shares.
  • In the property segment, Malta Properties Company plc advanced 1.8% to the €0.51 level albeit on trivial volumes.
  • On the other hand, Tigne’ Mall plc slumped 3.2% to a fresh 2017 low of €0.90 across 21,900 shares. Today, the equity started trading without the entitlement to the recently declared net interim dividend of €0.0128 per share.
  • Medserv plc (15,500 shares) and RS2 Software plc (34,500 shares) eased by 0.6% and 0.1% to €1.335 and €1.789 respectively. The oil and gas logistics specialist is due to reveal its interim financial results on 23 August.
  • GO plc edged slightly lower from its 2017 high of €3.60 to the €3.599 level across 21,000 shares.
  • Meanwhile, Malta International Airport plc maintained the €4.20 level across 2,400 shares whilst a single deal of 14,100 shares left the equity of PG plc at its all-time high of €1.40. Last Friday, PG published its financial statements for the financial year ended 30 April 2017 revealing a pre-tax profit of €10.8 million which is significantly higher than the corresponding figure in the previous financial year largely reflecting the Group’s investment in PAMA Shopping Village. The Directors reiterated their plan to start distributing dividends from the current financial year ending 30 April 2018.
  • On the bond market, the RF MGS Index trended lower for the first time in the last four days as it shed 0.3% (the sharpest drop in nearly three weeks) to an eight-day low of 1,126.942 points. Ahead of the publication of the minutes of the Federal Reserve’s monetary policy meeting held in July, euro zone sovereign yields continued to recover as fresh data showed that the single currency economy grew at a slightly faster rate of 2.2% year-on-year (annualised) during Q2 2017 compared to an initial estimate of +2.1%.

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