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The MSE Share Index extended yesterday’s drop by a further 0.16% to close at 4,429.729 points as the negative performances of six equities outweighed the gains in IHI and RS2. Just over €279,000 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 its sixth consecutive increase as it advanced by a further 0.05% to 1,139.750 points. The 10-year German bund yield edged lower from a level of 0.54% yesterday to 0.52% today. Despite better than expected inflation data issued yesterday, comments from two members who sit on the European Central Bank’s (ECB) Executive Board and Governing Council emphasized the threat of low inflation or deflation to the eurozone’s economy in general. Investors are expecting additional monetary measures from the ECB at its next monetary policy meeting to be held early in December.

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.

Bank of Valletta plc continued to lose momentum as the equity closed in negative territory for the fifth consecutive session. The share price shed a further 1.3% to close at the €2.32 level across 39,432 shares. The Bank will be holding its Annual General Meeting on 17 December during which shareholders will also be asked to approve a final gross dividend of €0.085 (net: €0.05525) per share (payable on 18 December) and 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, HSBC Bank Malta plc and FIMBank plc both closed lower. HSBC shed 1.5% to €1.85 and FIMBank eased by 1.1% to the USD0.45 level.

Yet, the worst performer of the day was GO plc as two deals of just 1,000 shares sent the equity of the quad-play telecom operator 2.2% lower to the €3.08 level.

Medserv plc and  Mapfre Middlesea plc also closed in negative territory as the equities closed marginally lower at €2.149 and €2.29 across 16,000 and 4,902 shares respectively.

On the other hand, International Hotels Investments plc ranked as the best performing equity with a jump of 4.4% to the €0.846 level on high volumes totalling 64,706 shares.

The equity of RS2 Software plc closed at a new record level for the third consecutive day as the share price advanced by a further 1.4% to the €2.89 level across 16,625 shares. 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.

Meanwhile, the equities of Malita Investments plc and Malta International Airport plc closed unchanged at €0.92 (5,000 shares) and €4.00 (3,500 shares) respectively.

Shortly after the close of today’s session, Malta International Airport plc issued its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015. The company revealed that the disposal of its 10% shareholding in Valletta Cruise Port plc gave rise to a pre-tax gain of €1.86 million. Meanwhile, MIA’s financial position remained sound on the back of positive passenger movements (January to October 2015 up by 7.4% when compared to the corresponding period last year). The company is expecting to exceed 4.5 million passenger movements until the end of this year. The Directors are expecting MIA to register better financial results than those that were projected at the beginning of this year and from the actual results of 2014 when the company registered a profit after tax of €16.8 million.

 

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