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  • This morning, the MSE Share Index edged minimally higher to 3,179.77 points following the 3.9% rise in Lombard shares which offset the declines in HSBC, Malita, Middlesea and MaltaPost. Meanwhile, the other four active equities, including BOV and MIA, ended today’s session unchanged. Download a copy of the Equity Market Summary. Over the week, the local equity benchmark ended in negative territory for the first time in six weeks with a 0.2% drop. This was mainly due to the weekly declines in HSBC, Malita and Plaza.
  • On the bond market, the Rizzo Farrugia MGS Index edged minimally higher to close the week at 994.953 points, representing a weekly drop of 0.2%. The benchmark MGS Index trended lower this week in line with the surge in eurozone yields to above the 1.60% level as investors’ risk appetite improved on the back of positive economic data from various corners across the world, a good start to the US third quarter earnings season as well as higher expectations of a bailout request by Spain and the granting of the next tranche of aid to Greece.
  • This morning the Treasury announced the issue of 3 new Malta Government Stocks for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €40 million. The 3 new stocks are: (i) 3.75% MGS 2017 (IV) (Fungibility Issue); (ii) 4.3% MGS 2022 (II) (Fungibility Issue) and (iii) 4.8% MGS 2028 (I). Offer prices will be determined on Thursday 25 October 2012 ahead of the opening of subscriptions on Monday 29 October.
  • Fresh demand entered the market today helping the equity of Lombard Bank advance from its multi-year low of €1.80 to regain the €1.87 level (+3.9%) on higher volumes totalling 33,828 shares. Nonetheless, Lombard’s equity still ranks amongst the worst performers of 2012 with a year-to-date drop of just over 30%.
  • BOV recouped from an intra-day low of €2.25 to close unchanged at the €2.27 level on volumes of 2,875 shares. BOV ended the week 1.8% higher ahead of the full-year results publication next Friday 26 October.
  • Meanwhile HSBC’s share price dropped by 1.8% this week after easing by a further 0.2% today to the €2.75 level across 9,548 shares.
  • Middlesea Insurance shares also edged €0.005 lower today to end the week 3.9% lower at the €0.75 level.
  • Malita Investments shares retreated 2% back to its July IPO price of €0.50 as it traded for the first time this week on a single deal of 1,000 shares.
  • MaltaPost’s equity was also active for the first time this week easing marginally lower to €0.709 on a single trade of 2,600 shares.
  • GO ended this morning’s session unchanged at the €0.99 level across four trades totalling 6,000 shares to end this week 1.1% higher – the fourth consecutive weekly gain.
  • The shares of MIA also preserved this week’s earlier gains as a further 3,400 shares changed hands today at the €1.75 level representing a 0.9% weekly increase.
  • Similarly, a single trade of 2,000 Simonds Farsons Cisk was executed at the €2.40 level representing a 2.1% weekly rise.

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