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  • The MSE Equity Price Index suffered the fourth worst daily performance of the year as it fell by 0.72% to a near four-month low of 4,611.378 points, largely driven by the 6.1% decline in the share price of IHI (translating into a drop in market capitalisation of nearly €23 million). RS2, HSBC and GlobalCapital also posted declines today. In aggregate, the four equities outweighed the gains registered by five other shares whilst BOV, Malita and Plaza Centres closed the day unchanged. Trading volumes increased notably to €0.63 million. However, close to 60% of the total value of equities traded took place in just two shares – Tigne’ Mall and GO. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index moved higher for the first time in six days as it gained 0.02% to 1,121.822 points. Volatility across bond markets increased ahead of the two-day monetary policy meeting of the US Federal Reserve. Overall, bond markets are anticipating the Fed to unveil its plans for its balance sheet size reduction and keep interest rates unchanged. On the economic front, readings from an index gauging the level of economic sentiment in Germany beat expectations whilst another reading related to economic sentiment in the whole of the single currency area disappointed.
  • International Hotel Investments plc plunged 6.1% to the €0.57 level albeit on trivial volumes totalling 3,162 shares. Yesterday, IHI announced that it concluded a five-year contract with a major European oil company to lease part of its Commercial Centre in Tripoli (situated adjacent to the Corinthia Tripoli Hotel). The contract is worth just over €1 million annually. As a result of this contract, all the available office space in the Commercial Centre has been nearly fully leased out to international companies in the oil-related industry.
  • Also among the large companies by market capitalisation, a single deal of 7,150 shares pulled the equity of RS2 Software plc 2.3% lower back to the €1.70 level whilst HSBC Bank Malta plc lost 1% and closed at its 2017 low of €1.90 across 29,637 shares.
  • GlobalCapital plc plummeted 17.5% to the €0.33 level across 57,850 shares.
  • In contrast, Malta International Airport plc gained 0.5% to a fresh 2017 high of €4.30 on volumes totalling 15,204 shares.
  • GO plc and Lombard Bank Malta plc also performed positively today. GO advanced 1% to the €3.585 level on healthy volumes totalling 42,700 shares whilst the share price of Lombard increased by 0.7% to the €2.215 level on weak volumes of just 1,079 shares.
  • In the property segment, Tigne’ Mall plc (211,750 shares) and Malta Properties Company plc (20,000 shares) advanced by 1.9% and 2.1% to €0.978 and €0.53 respectively.
  • On the other hand, Malita and Plaza Centres closed unchanged. Malita Investments plc maintained the €0.749 level after opening at a low of €0.74 (-1.2%). A total of 15,000 shares traded.
  • Three deals totalling 12,000 shares left the equity of Plaza Centres plc unchanged at the €1.05 level.
  • Bank of Valletta plc held on to the €2.10 level after recovering from an intra-day low of €2.071 (-1.4%) across 38,826 shares.
  • Trading in the recently listed €20 million 3.5% Simonds Farsons Cisk plc 2027 bonds commenced today and the price rallied by 300 basis points to 103% on activity of €77,400 nominal.

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