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  • The MSE Share Index posted gains for the fourth consecutive day as it edged up by a further 0.33% to a fresh three-month high of 4,545.787 points. Week-on-week, the Index surged by 2.33% – the best weekly performance so far this year – driven mainly by the gains in HSBC (+11.8%) and IHI (+7.3%). Download a copy of today’s Equity Market Summary.
  • The RF MGS Index edged 0.17% higher to reach yet another all-time high of 1,181.077 points as the indicative bid prices quoted by the Central Bank of Malta (CBM) for all MGS’s with maturities of six years and over were higher today. Furthermore, the bids for twelve different long-dated MGS’s reached new record highs. The gains seen in the prices of MGS’s is possibly as a result of the long-term sovereign credit rating upgrade of Malta from Standard & Poor’s to “A-“ with a stable outlook from “BBB+”. In addition, the euro zone bond market reacted positively to yesterday’s outcome of the European Central Bank’s (ECB) monetary policy meeting. The ECB kept interest rates on hold as expected. In addition, ECB President Mr Mario Draghi said that a decision on the future of its bond-buying programme, which is due to end in March 2017, would come in December. He said that an abrupt end to the programme was unlikely and it would continue “if necessary”.
  • HSBC Bank Malta plc trended in positive territory for the fourth consecutive trading session as it advanced by a further 2.2% to a new seventeen-month high of €1.90 across healthy volumes totalling 67,475 shares. The equity has rallied by 22.6% from its twelve-year low of €1.55 touched in mid-August.
  • Also in the retail banking sector, Bank of Valletta plc regained the €2.29 level (+0.4%) across 6,500 shares. BOV’s 2015/16 full-year financial statements will be published on Friday 28 October.
  • In the property segment, Malta Properties, Malita Investments and Plaza Centres all posted gains today. The best performer in this sector was Malta Properties Company plc as it surged by 6.0% to the €0.62 level – the highest since 1 December 2015 – on volumes totalling 88,501 shares.
  • Malita Investments plc moved 2.2% higher to the €0.879 level across 15,000 shares while Plaza Centres plc regained the €1.12 level (+0.9%) on volumes totalling 11,349 shares.
  • RS2 Software plc held on to its 2016 low of €1.50 across 22,659 shares.
  • Following yesterday’s announcement, the equity of Mapfre Middlesea plc fell by 3.4% to a fresh fifteen-month low of €2.00 across 5,916 shares. Mapfre Middlesea revealed that, based on the review of the consolidated results as at 30 September 2016 (i.e. the first nine months of the financial year ending 31 December 2016), it is envisaging that the 2016 net profits attributable to shareholders will be lower when compared to that achieved in 2015 of €6.82 million. This is mainly because there will not be a repetition of the reinsurance cost saving adjustment carried in the financial statements of MSV Life plc in 2015. Furthermore, the technical performance of the motor class of business of Mapfre Middlesea deteriorated in 2016. Nonetheless, the Company reiterated that its solvency position remains well above regulatory requirements.
  • Malta International Airport plc slipped 0.7% back to the €4.15 level on light volumes. In an article published on the local financial media yesterday, it was stated that Ryanair is anticipating carrying two million passengers to and from Malta in 2016 – representing 40% of the market share if MIA meets its revised 2016 target of 4.97 million passengers. The market share of Ryanair was 34% in the first half of 2016, followed by Air Malta with 32%. Ryanair is expected to increase its share further following the introduction of additional routes this winter.
  • A single deal of just 1,450 shares pulled the equity of GlobalCapital plc 1.9% lower to the €0.47 level.

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