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  • Following three consecutive sessions of declines, the MSE Share Index edged 0.2% higher during this morning’s session to regain the 3,338.214 points level reflecting the increases in the share prices of HSBC, Malita, RS2 and MaltaPost. Meanwhile, BOV, GO, and Island Hotels trended lower whilst MIA, MIDI and 6pm ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index slid minimally lower to 1,020.855 points as Eurozone yields rebounded this morning to regain the 1.35% level on the back of improved consumer sentiment in the US coupled with a more positive outlook for the American economy. The latter also led to speculation on when the US Federal Reserve will start cutting back its quantitative easing programme in view of the economic recovery exhibited by the latest data.
  • The share price of RS2 extended its recent positive trend with a further 2.8% increase to yet another all-time high of €1.10 across eight trades totalling 62,500 shares. The IT equity has rallied by 57.9% since the start of 2013 on the back of new contracts in 2012 which led to a 32.5% increase in pre-tax profits to €3.1 million. Demand for the equity was further sustained by the recent announcements. In last week’s interim statement, the Directors noted that the new managed services subsidiary went live in April 2013 with its first 3-year contract. Furthermore, in respect of its traditional business of licencing the BANKWORKS software, the Directors also revealed the possibility of concluding new licence agreements in the coming months. In addition, in a separate announcement also issued last Thursday afternoon, the Directors revealed that they were informed that an investor is interested in acquiring at least a 10% shareholding in RS2.
  • MaltaPost continued to be well supported close to its 2013 high of €1.06 with a further 30,000 shares changing hands at the €1.055 level representing a 0.5% increase over the previous close.
  • Malita Investments continued to trade with the €0.50 to €0.53 range as new bids helped the equity to practically recover all of last week’s decline with a 3.6% rise to the €0.519 level although volumes were low at 2,000 shares.
  • In the financial sector, HSBC edged 0.8% higher to regain the €2.65 level on volumes of just over 6,600 shares.
  • Meanwhile, BOV’s share price remained under pressure following the 4.3% decline registered in the previous three weeks following the publication of the Bank’s interim results which revealed the Bank’s intention to adopt a more stringent loan provision policy as well as accelerate its capital building programme through a rights issue, a bond issue or a lower dividend payout ratio. The Bank’s share price eased by a further 0.1% during this morning’s session to close at the €2.199 level on volumes of just over 41,001 shares.
  • GO also retreated by 0.6% to the €1.57 level on a single trade of 5,000 shares.
  • Similarly, Island Hotels Group shares eased by 0.2% to €0.599 on shallow volumes of 1,000 shares.
  • Meanwhile, MIA held on to its all-time high of €1.99 across 4,660 shares. The airport operator is scheduled to hold its Annual General Meeting tomorrow.
  • Also, no changes were registered in the share prices of MIDI at the €0.25 level (27,700 shares) and 6pm Holdings at the GBP0.58 level (550 shares).

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