The MSE Share Index dropped by 0.17% to close at 4,436.979 points as the negative performances of BOV (ex-dividend) and Lombard outweighed the gains in five other equities. RS2 closed at a new all-time high on strong trading volumes. In total, just over €359,000 worth of shares changed hands during this morning’s session. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index registered the fifth consecutive increase as it advanced by a further 0.11% to 1,139.186 points. The 10-year German bund yield edged lower from a level of 0.58% on Friday morning to 0.54% as investors took shelter in safe-haven debt after Friday’s terrorist attacks across Paris.

Last week, Bank of Valletta plc published a Prospectus dated 16 October and a Supplement dated 9 November 2015 in connection with the recently announced €150 million Subordinated Debt Issuance Programme. BOV also published the Final Terms confirming the issuance of the first tranche of €75 million 3.50% Subordinated Notes maturing in 2030. Tranche 1 is split into Series 1 (minimum €25,000 per application) and Series 2 (minimum €5,000 per application). €40 million has been reserved for preferred applicants (shareholders, directors and employees) who must submit all information by 30 November. Other investors must apply by 2 December.

The equity of Bank of Valletta plc shed 1.6% to close at the €2.35 level across 35,077 shares as the equity started trading without the entitlement to the final gross dividend of €0.085 (net: €0.05525) per share, payable on 18 December. The Bank will be holding its Annual General Meeting on 17 December during which shareholders will also be asked to approve a 1 for 12 bonus share issue. Shareholders as at close of trading on 13 January are entitled to the bonus share issue.

Also in the banking sector, the equity of Lombard Bank Malta plc retreated by 0.9% from its multi-year high of €2.30 to close at the €2.28 level across 7,000 shares.

On the other hand, five equities performed positively. Most noticeably, RS2 Software plc advanced by 1.1% to close at yet another new all-time high of €2.85 on heightened activity totalling 52,904 shares – the busiest session for RS2 since mid-August 2015. Last Thursday, the IT company published its Interim Directors’ Statement explaining that since 30 June the Group continued to build on the success of the previous months as demand for services continued to be significant and in line with that of 2014 as well as the first six months of 2015. RS2 also continued with its plans to increase its international presence particularly in the US (through its subsidiary Transworks) and Asia (through a new subsidiary to be established in the Philippines). Overall, the Directors stated that RS2 continues to hold a very strong pipeline of potential business and maintains a positive outlook for the year.

The equity of Malta International Airport plc recaptured its all-time high of €4.00 (+0.3%) across relatively low trading volumes of 4,170 shares.

The equities of HSBC Bank Malta plc and FIMBank plc also performed positively as they gained 0.5% and 1.1% to the €1.879 (17,600 shares) and USD0.455 (50,000 shares) levels respectively.

A single deal totalling 5,000 shares of Malita Investments plc helped the equity advance by 1.1% to regain the €0.92 level. This morning, the Company published its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015. The Directors explained that they expect the Company’s financial performance for the year to be within projections. During the Initial Public Offering (IPO) in 2012, Malita Investments had projected a net profit figure of €5.12 million for FY2015.

Also in the property sector, MIDI plc traded unchanged at the €0.35 level across 10,000 shares.

The equities of GO plc, International Hotels Investments plc and Medserv plc also closed the day unchanged.


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