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  • The MSE Share Index trended lower for the first time this week with a 0.1% drop to 3,167.958 points as the 0.4% decline in each of BOV and HSBC offset the 1.7% increase in GO. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to close at 1,002.536 points despite a continued rally in benchmark 10-year German Bund yields which touched the 1.46% level for the first time in four weeks. The rally in benchmark Eurozone yields in recent days reflects hope that a deal over the US budget is close, the improved Greek rating from selective default to ‘B-‘, rising German business confidence as well as expectations of further stimulus measures by the Bank of Japan.
  • Sustained demand for GO plc shares help the price rise for the fourth consecutive session with the equity edging closer to its 2012 high of €1.20. The share price of the telecoms quad play operator advanced by a further 1.7% today to regain the €1.17 level across six trades totalling 21,135 shares. Following the rally in recent months, GO’s equity ranks among the top performing equities in 2012 with a year to date jump of over 19%. Nonetheless, investors are still waiting a decision on whether the Company will participate in the upcoming €30 million rights issue of Forthnet. On their part, GO’s Directors declared that a decision will only be taken once the related prospectus is issued.
  • The shares of BOV eased 0.4% lower to €2.34 on low volumes of 8,675 shares. The Bank is scheduled to hold its Annual General Meeting this afternoon. During the meeting shareholders will be asked to approve a number of resolutions on the agenda including the final gross dividend of €0.13 per share and a 1 for 9 bonus share issue. Shareholders will also be electing six Directors out of the eight nominated candidates.
  • Similarly, HSBC shares retreated by 0.4% to the €2.66 level on even lower volumes of 2,760 shares. Yesterday HSBC announced that its Board of Directors is scheduled to meet on 4 March 2013 to consider and approve the Group’s 2012 financial statements as well as to consider the recommendation of a final dividend.
  • No other trades were executed during this morning’s session. Most notably no deals took place in 6pm Holdings plc shares despite a letter by the CEO Ivan Bartolo, to all the Company’s shareholders, indicating that 6pm maintained a profitable position throughout the year. As a result, Mr Bartolo added that the Board of Directors will be recommending the payment of a final dividend and the distribution of more bonus shares once the full-year results are approved in 2013.
  • A single deal of 1,100 shares of Santumas Shareholdings plc was also transacted during this morning’s session at the €1.70 level, unchanged from the previous close. This morning, the Company announced that its Board of directors is scheduled to meet on 27 December to consider and approve the financial statements for the six months ended 31 October.


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