• The MSE Share Index extended yesterday’s decline by a further 0.08% to 4,548.199 points – the lowest level in the last eight trading sessions – on weak volumes. Indeed, trading activity dropped to a two-week low of nearly €94,000. Week-on-week, the Index posted a decline of 0.33%. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index rebounded strongly from yesterday’s biggest drop in nearly six weeks as it advanced by 0.24% to 1,147.613 points. Euro zone bond yields retreated from their intra-week highs of yesterday. The 10-year benchmark German Bund yield dropped from an intra-week high of 0.21% to a low of 0.16% today. Likewise, the 10-year yields of the Italian and Spanish government papers retreated from their respective intra-week highs of 1.53% and 1.64% to a daily low of 1.47% and 1.57% respectively. These movements resulted from fresh data which showed that German factory gate prices fell for their 33rd consecutive month in April. Furthermore, Germany’s producer prices fell by 3.1% in April year-on-year.
  • GO plc closed below the €3.50 mark for the first time in three weeks as it retreated by 0.6% to the €3.48 level across 9,800 shares. On Monday, the quad-play telecoms operator confirmed that it is now in the final stages of evaluating the binding offers from third party investors interested in acquiring the company. GO plans to select the preferred bidder by the end of the month.
  • Malta Properties Company plc opened at an intra-day high of €0.56 (-3.4%) and lost further ground to close at the €0.532 level – representing a slump of 8.3%. A total of 18,125 shares changed hands today. The Company is due to hold its AGM on 2 June.
  • RS2 Software plc had a very quiet session today when compared to the rest of the week with only 3,475 shares changing hands at the €3.50 level – representing a decline of just 0.1% from the post-bonus adjusted price of €3.505. The equity also started to trade without the entitlement to the recently recommended final net dividend of €0.0278 per share (payable on 30 June). Yesterday, RS2 issued an Interim Directors’ Statement whereby the Company explained that its US subsidiary, Transworks LLC, managed to secure a sponsorship with a bank which is essential for it to carry out its managed service business in addition to its licence offering. Furthermore, RS2’s wholly owned subsidiary, RS2 Smart Processing Ltd, engaged two new clients for its managed services business, namely a payment service provider (PSP) in Germany and one of the largest acquirers in Europe. The Directors also noted that the Group holds a very healthy business pipeline both in its licencing business and managed services as well as across different regions.
  • Also among the large companies, Bank of Valletta plc and Malta International Airport plc both registered gains today. BOV recaptured the €2.23 level (+0.5%) across 11,015 shares while MIA edged 0.1% higher to the €4.375 level on volumes totalling 2,586 shares. On Tuesday, MIA announced that during the first three months of 2016 its performance was much better than expected and following the 15.5% increase in passenger traffic between January and March and the continued growth in the retail sector of the business, the Company’s revenues for the first quarter of 2016 amounted to €11.6 million (+5.1%) while profits grew by 7.6% to €1.46 million.
  • International Hotel Investments plc maintained the €0.65 level on trivial volumes. On Wednesday, IHI published an Interim Directors’ Statement revealing that it registered improved revenue and operating profit during the first quarter of 2016. The announcement also made reference to a bonus share issue of 3 new shares for every 100 shares held to those shareholders as at the close of business on 27 June 2016. The Company will hold its AGM on 9 June.
  • A single deal of just 1,148 shares left the equity of 6pm Holdings plc at the GBP0.95 level. The IT services company is due to hold its AGM on 21 June.

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