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  • The MSE Share Index declined by 0.58% to its lowest level this year of 4,601.110 points as the drops in the share prices of four equities (including those of IHI and BOV) outweighed the marginal gain in HSBC. Meanwhile, another four equities closed the day unchanged. Trading volumes were robust as €0.58 million worth of shares changed hands. During the last seven trading sessions, the local equity index dropped by just over 100 points which translate into a decline of €100.5 million in market capitalisation. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index rebounded strongly from its near seven-week low of 1,118.700 points as it surged by 0.3% – the sharpest daily uplift in over six weeks – to an over one-week high of 1,122.022 points. Euro zone sovereign yields drifted mostly lower today possibly following the publication of some weak data in the US yesterday as well as heightened political concerns after President Donald Trump reportedly asked the FBI to end a probe into his former security adviser and shared sensitive security intelligence with Russia. The latest political developments in the world’s largest economy fuelled concerns on whether Trump will be able to successfully push through his economic stimulus programme. On the economic front, core inflation within the single currency area remained at +1.2% in April year-on-year, in line with forecasts. However, month-on-month it dropped to +0.5% from +1.4% in March.
  • Bank of Valletta plc slipped 1.4% to its lowest level since early February 2017 of €2.17 on strong volumes totalling 166,075 shares – representing nearly 62% of the total value of equities traded.
  • A single deal of just 2,184 shares pulled the equity of International Hotel Investments plc 2.4% lower to a fresh nine-month low of €0.605. Recently, the hotel chain operator issued an upbeat Interim Directors’ Statement explaining that it expects its full-year performance in 2017 to be better than that of 2016 and also ahead of budgets. Shareholders as at the close of trading on Tuesday 27 June 2017 will be entitled to a 3 for 100 bonus share issue.
  • PG plc moved lower for the third consecutive day as it dropped by a further 1.2% to the €1.275 level across 104,150 shares.
  • In the property segment, Malta Properties Company plc retreated to the €0.51 level (-3.8%) on eight deals totalling 33,850 shares.
  • In contrast, MIDI plc held on to the €0.31 level albeit on light volumes totalling 5,000 shares. Tomorrow, the equity starts trading without entitlement to the recently declared net dividend of €0.007 per share.
  • Mapfre Middlesea plc retained its seven-month low of €2.01 across 4,000 shares.
  • The equity of Malta International Airport plc also finished the day unchanged at the €4.09 level after briefly touching an intra-day high of €4.12 (+0.7%). A total of 7,250 shares traded. Yesterday, MIA published an Interim Directors’ Statement revealing a 22.2% year-on-year growth in passenger numbers in the first three months of the year which resulted in a 15.8% increase in turnover to €13.4 million (Q1 2016: €11.6 million) and a 33.2% surge in EBITDA to €5.82 million (Q1 2016: €4.37 million). Similarly, profits after tax jumped by nearly 69% to €2.47 million when compared to €1.46 million generated in the first three months of 2016. The Directors stated that the promising start to the summer season provides an optimistic outlook for the rest of 2017 with expectations for an overall positive result for 2017.
  • On the other hand, RS2 Software plc maintained the €1.60 level after recovering from an intra-day low of €1.565 (-2.2%). A total of 10,740 shares changed hands. Tomorrow, the equity starts trading without entitlement to a net dividend of €0.01 per share and to a bonus share issue of one share for every twelve shares held.
  • The only positive performing equity today was HSBC Bank Malta plc which gained 0.1% to the €1.981 level across 7,390 shares.

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