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  • The MSE Share Index retreated by 0.4% to 4,436.974 points as the negative performance of seven equities, including those of the largest two by market capitalisation (i.e. BOV and HSBC), outweighed the gains in four other equities. Trading volumes recovered from yesterday’s levels, as €364,000 worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index remained largely flat at 1,139.429 points as the benchmark 10-year German Bund yield maintained the 0.56% level.
  • Trading in the recently-listed 3.5% BOV 2030 bonds is expected to commence tomorrow.
  • Most notably, follow the recent solid price gains, the equity of Medserv plc slumped by 6.3% to the €1.95 level across 26,390 shares. Yesterday, the oil and gas logistics specialist announced that it has been granted approval by the Listing Authority for a €30 million unsecured bond issue due in 2026 (in a combination of USD bonds at a coupon of 5.75% and EUR bonds at a coupon of 4.5%) as well as a €15 million rights issue at a price of €1.50 each. Shareholders as at close of trading tomorrow will be entitled to the rights issue of 2 new shares for every 9 shares held. Medserv will be using these funds to acquire the METS Group.
  • HSBC Bank Malta plc reversed yesterday’s gains as the equity slid by 1.6% to the €1.75 level across 8,459 shares. Yesterday, the Bank issued a clarification regarding its recently announced cost reduction programme. In fact, HSBC confirmed that it is still reviewing the applications received from its employees for early voluntary retirement and that no decisions have been taken yet. The Bank will be making an announcement on the matter with all the relevant facts in due course according to its market listing obligations.
  • Also in the banking sector, the equity of Bank of Valletta plc retreated to the €2.301 level (-1.2%) across 35,757 shares.
  • In the property sector, both Malta Properties Company plc and Tigne’ Mall plc ended today’s trading session in negative territory. The former failed to hold on to an intra-day high of €0.50 and closed at the €0.471 level (-5.8%) across 45,299 shares.
  • On the other hand, the equity of Tigne’ Mall plc eased by 1.6% to the €0.94 level across 9,416 shares.
  • The other negative performers of the day were Simonds Farsons Cisk plc, which closed at the €6.00 level (-5.5%) and Grand Harbour Marina plc, which lost 3.8% to the €1.00 level. However, trading volumes in both equities was insignificant.
  • Low trading activity was also registered in the equity of GO plc, which maintained the €3.00 level across two deals totalling 1,273 shares.
  • Meanwhile, Mapfre Middlesea plc jumped by 7.0% to the €2.30 level across 5,500 shares.
  • The equity of Malta International Airport plc regained the €4.00 level (+2.6%) on high trading volumes totalling 37,737 shares. Yesterday, the airport operator announced that it is expecting a record 4.6 million passengers during the whole of 2015 (+7.3% compared to 2014). MIA also revealed plans for a €78 million capital investment programme comprising a number of rehabilitation and upgrade initiatives on the airfield side, embellishments and expansion of the terminal building as well as a €40 million business centre (branded SkyParks 2).
  • FIMBank plc and 6PM Holdings plc also performed positively. The trade finance specialist gained 3.1% to close at the USD0.67 level across 14,077 shares.
  • The equity of 6PM Holdings plc advanced by 1.5% to the GBP0.69 level across 5,873 shares.

 

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