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  • Following last week’s 0.2% drop, the MSE Share Index edged a further 0.1% lower to 2,968.657 points on the back of a 0.5% decline in the share price of BOV. Meanwhile the three other active equities ended the session unchanged. Download of copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index slid 0.2% lower to 989.111 points as Eurozone yields recovered from last Friday’s all-time low of 1.394% to the current 1.45% on some profit taking. Nonetheless, concerns over Greeks financial woes remain as this weekend’s summit of the eight largest economies (G8) failed to provide comfort to the markets as no concrete action and only a verbal support to Greece was declared. Moreover, Germany maintained its stance in favour of austerity measures in response to the eurozone’s sovereign debt crisis.
  • This morning, Mediterranean Investments Holding plc announced that it will be convening a meeting for its bondholders in the 7.15% bonds maturing in 2017. During the meeting the Company will ask bondholders to vote on a resolution that will allow it to use a portion of the outstanding bond proceeds to partly fund a reduction of a loan. The loan was taken out by MIH during the civil war in Libya in order to continue to honour payments to its capital creditors and other commitments. Further details available here.
  • The share price of BOV shed another 0.5% to a new 7-month low of €2.07 on volumes of just over 9,300 shares. Further bids outstanding at the last closing price with lowest offers at the €2.08 level. The Bank is scheduled to pay its recently declared gross interim dividend of €0.06 per share on 24 May.
  • Similarly, HSBC’s equity continued to trade at the equity’s 2012 low of €2.50 across four trades amounting to 3,740 shares. Few bids outstanding at the last traded price whilst lowest offers pitched at the €2.52 level.
  • GO held on to last week’s 14.9% rise, as its shares closed unchanged at the €0.85 level across eight trades totalling 27,867 shares. Despite the recent recovery from the equity’s all-time low of €0.70, GO’s share price is still 13.3% below its price at the beginning of the year.
  • MIA, the only other active equity, also closed the day unchanged at €1.75 after recovering from an intra-day low of €1.73 on very low volumes of 570 shares. Other offers unsatisfied at the closing price with highest bids at the €1.65 level. The airport operator is due to effect payment of the recently approved final gross dividend of €0.0615 per share on 25 May.
  • This morning, Plaza Centres issued its Interim Directors’ Statement revealing that the Company’s profitability increased while expenses were maintained at a lower level during the first few months of 2012. The announcement also explained that the high levels of occupancy may decline following the termination of a lease in August 2012 but negotiations on new leases for this space are already on going and expected to be concluded before the end of August 2012.

 

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