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  • Trading activity slumped to an 8-month low during this morning’s trading session as only €43,784 worth of shares changed hands. The MSE Share Index eased 0.2% lower to 4,304.059 points. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index slid 0.2% back to 1,121.330 points as the benchmark 10-year German Bund yield jumped to just below the 0.8% level following the publication, yesterday afternoon, of a report by the European Central Bank (ECB) revealing that house prices across the eurozone have started to increase and will most probably continue to rise in the near future. In contrast, this morning, data showed that inflation during the month of August cooled to 0.1% compared to 0.2% in July. Nonetheless, this has been largely shrugged off by European investors on the back of a disappointing auction of 2-year German paper as well as the prospects of rising interest rates in the US during the Federal Reserve monetary policy meeting taking place today and tomorrow. 
  • In the meantime, Bank of Valletta plc this morning announced that it has lodged an application with the Listing Authority for a subordinated debt issuance programme of a maximum of €150 million over the next twelve months. Further details will be issued in the Prospectus and Final Terms once approval is granted.
  • The drop in the local equity benchmark was largely due to the 2.5% decline in the share price of International Hotel Investments plc back to the €0.78 level on shallow volumes of 2,555 shares.
  • This offset the 0.1% increase in the share price of HSBC Bank Malta plc which recaptured the €1.85 level across six deals totalling 18,593 shares.
  • Similarly, the equity of Simonds Farsons Cisk plc moved 0.9% to yet another all-time high of €5.60 on just 414 shares. This morning Farsons announced that on Wednesday 30 September, it will publish its interim results for the six months ended 31 July 2015. Farsons also informed the market that the interim dividend being declared will be paid to all shareholders as at the close of trading also on 30 September.
  • Meanwhile, the equity of RS2 Software plc held on to the €2.52 level on single trade of 2,000 shares.
  • Elsewhere, GO plc announced that it will be convening an Extraordinary General Meeting on Thursday 29 October during which shareholders will be asked to authorise the Board to seek bids for the entire issued share capital of the Company and disclose any information required by potential bidders.
  • GlobalCapital plc also issued an announcement today informing the public that the share purchase agreement entered into by EIP plc to acquire the 48.5% stake of BAI (Mtius) Ltd has expired. Although the deal has not materialised, EIP is still intent on acquiring a stake in GlobalCapital and supporting any new fund raising initiatives up to €15 million.

 

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