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  • The MSE Share Index moved higher for the first time in the last four trading sessions as it rebounded by 0.21% to 4,656.737 points. Trading activity surged to €0.48 million largely due to heightened activity in Medserv and BOV as well as healthy volumes in RS2 and HSBC. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index extended yesterday’s decline by a further 0.37% to 1,134.660 points as the benchmark 10-year German Bund yield touched the 0.4% level for the first time since mid-December 2016. The further uptick in euro zone sovereign yields follows yesterday’s comments made by the US Federal Reserve Chairperson. Ms Janet Yellen acknowledged that the US economy is fast approaching the Fed’s objectives and warned that any delays in the Fed’s rate hike plans would be risky.
  • Meanwhile, as widely expected, the Governing Council of the European Central Bank (ECB) this afternoon announced that it decided to leave its current monetary policy unchanged. In a statement, the ECB said that it continues to expect its key interest rates “to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases”. It further confirmed that the pace of monthly asset purchases will decrease to €60 billion from the current €80 billion starting April 2017 and that it will last “until the end of December 2017, or beyond, if necessary”.
  • Medserv plc slipped 1.2% back to the €1.60 level across 92,150 shares whilst Bank of Valletta plc eased 0.2% lower to the €2.18 level on volumes totalling 59,205 shares.
  • Two deals totalling 50,000 shares forced the equity of RS2 Software plc 0.8% lower to a fresh 3-week low of €1.785.
  • The only other negative performing equity was Mapfre Middlesea plc with a 0.9% drop back to the €2.23 level on insignificant volumes.
  • Shallow activity also registered across Malita Investments plc and Simonds Farsons Cisk plc. Both equities closed this morning’s session unchanged at €0.85 and €7.30 respectively.
  • On the other hand, HSBC Bank Malta plc bounced back by 2.1% to recapture the €1.95 level across 45,188 shares. The Bank is expected to reveal its 2016 annual results on 21 February 2017. The Directors will also consider the declaration of a final dividend to be recommended during the Annual General Meeting to be held on 13 April 2017.
  • Similarly, Malta International Airport plc advanced 0.5% to a near three-month high of €4.12. A total of 4,828 shares changed hands.
  • The only other active equity was Malta Properties Company plc as it also advanced minimally higher to the €0.551 level on insignificant volumes.

 

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