• Today, the MSE Share Index shed 0.3% to 3,739.353 points as most of the large equities by market capitalisation trended lower. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index slipped by 0.1% to 1,171.283 points reflecting heightened volatility in bond markets as concerns over a possible Greek default intensify. This morning, media reports revealed that Greece will not present a revised list of economic reforms during Friday’s meeting of Eurozone finance ministers as Greece’s currently level of liquidity should be sufficient until June. However, sometime during May, Greece has to present a new list of proposed economic reforms in a further bid to seek additional financial aid.
  • The share price of Bank of Valletta plc eased 0.5% lower to €2.23 across six deals totalling 56,253 shares ahead of the interim results publication due by the end of this month.
  • Similarly, the equity of Malta International Airport plc eased minimally lower to the €3.50 level on continued high volumes totalling 49,500 shares.
  • International Hotel Investments plc shed 1.4% back to the €0.70 level across 20,000 shares. Last week, IHI published a Prospectus dated 10 April 2015 in connection with a new €45 million 5.75% bond issue redeemable in 2025. IHI will be redeeming its outstanding €35 million 6.25% bonds at the first early redemption date of 11 July 2015. As such, IHI will be granting preference to the holders of the maturing bonds as at 8 April 2015, to subscribe for the new bonds by surrendering their existing holding.
  • The only other negative performing equity was GO plc with a 0.4% decline back to the €2.84 level after only partially recovering from an intra-day low of €2.80 on shallow volumes of 3,000 shares.
  • Meanwhile, HSBC Bank Malta plc ended this morning’s session unchanged at the €2.03 level across seven deals totalling 13,339 shares. This morning the Bank held its Annual General Meeting during which shareholders approved all the items on the agenda including the final gross dividend of €0.026 per share and the 1 for 9 bonus issue. The equity will trade with the entitlement to the bonus issue until 27 April 2015.
  • The only other active equity was RS2 Software plc with a further 24,153 shares trading unchanged at the €3.075 level. Yesterday evening, RS2 released its preliminary profit statement showing a 7.9% increase in revenue to €15.24 million, a 7% increase in EBITDA to €6.13 million but a 1.5% drop in pre-tax profits to €4.19 million. The Directors recommended the payment of a final net dividend of €0.044 per share compared to the €0.022 dividend per share paid out in respect of the 2013 financial year. Shareholders as at close of trading on Wednesday 6 May will be entitled to receive this dividend.
  • This morning, GlobalCapital plc announced that it had been informed that EIP plc (a company incorporated in Malta) made a conditional offer to BAI Co. (Mtius) Limited for the acquisition of the 48.45% shareholding it holds in GlobalCapital plc. The offer is subject to a number of conditions including the signing of a binding share purchase agreement, a full due diligence process and all necessary regulatory approvals.

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