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  • The MSE Equity Price Index slipped by a further 0.13% to 4,320.052 points today as the drops in six equities slightly outweighed the gains in another six shares. Meanwhile, Grand Harbour Marina, MaltaPost and PG closed the day unchanged. Trading activity remained elevated as a total of €0.48 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index extended its negative streak as it moved lower for the seventh consecutive day to a fresh three-month low of 1,107.293 points. Overall, the Index shed almost 1% in recent days, reflecting drops in MGS prices across all maturities. The sharpest declines took place at the longer-end of the yield curve, with the three longest-dated government bonds – namely, the 2.1% MGS 2039, the 3% MGS 2040 and the 2.40% MGS 2041 – plummeting between 200 and 250 basis points. Meanwhile, in Italy, the leaders of the Northern League and the Five-Star Movement nominated Prof. Giuseppe Conte to be the country’s next Prime Minister. However, this nomination needs the endorsement of President Sergio Mattarella.
  • Most of today’s trading activity took place in the equity of GO plc with almost €0.19 million worth changing hands in this equity alone. The share price went down by 0.6% to the €3.44 level on volumes totalling 54,005 shares.
  • Among the large caps, RS2 Software plc retreated to the €1.16 level (-2.5%) across 29,962 shares whilst four deals totalling 10,072 shares forced the equity of HSBC Bank Malta plc 1.2% lower back to the €1.71 level.
  • Malita Investments plc also shed 1.2% to the €0.83 level albeit on just 4,000 shares.
  • Low volumes were also transacted in the equity of Trident Estates plc as the share price moved below the €1.50 level for the first time since commencing trading on 31 January 2018 to the €1.49 level on a total of 3,748 shares. Tomorrow, the company is due to publish its 2017/18 financial results.
  • FIMBank plc plunged 4.5% to the USD0.53 level across 20,000 shares.
  • In contrast, Bank of Valletta plc regained the €1.75 level (+0.6%) across 17,500 shares.
  • Positive sentiment towards MIDI plc persisted as the equity surged by a further 7% to €0.43 – the highest since end of August 2011 – on nine deals totalling 145,550 shares. Shareholders as at close of trading on 24 May will be entitled to a final net dividend of €0.007 per share.
  • Within the same segment, Malta Properties Company plc added a further 1% to a new seven-month high of €0.53 across 30,000 shares. Last week, the company expressed its interest in acquiring a major stake in SmartCity (Malta) Limited. The Company’s AGM will be held on 13 June.
  • International Hotel Investments plc (33,036 shares) and Malta International Airport plc (3,826 shares) advanced by 1.6% and 0.4% to recapture the €0.63 and €4.98 levels respectively. IHI is scheduled to hold its AGM on 5 June.
  • A single deal of 10,881 shares lifted the equity of Santumas Shareholdings plc 4% higher to the €1.04 level.
  • Meanwhile, Grand Harbour Marina plc retained the €0.75 level across 57,000 shares.
  • MaltaPost plc (4,007 shares) and PG plc (12,700 shares) also traded flat at the €1.80 and €1.32 levels respectively. Last week, the postal operator reported a near 28% drop in net profits to €0.86 million in the first six months of the current financial year, largely due to a substantial increase in operating costs.

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