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  • The MSE Share Index rebounded by 0.19% to surpass the 4,500 mark for the first time since last Thursday as it closed at 4,502.657 points largely reflecting the uplift in the prices of IHI, RS2 Software and GO. Trading volumes decreased notably as just under €193,000 worth of shares changed hands across twelve equities – well below the €0.48 million average daily trading registered in recent weeks. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index eased by 0.17% to 1,150.749 points as the 10-year benchmark German Bund yield advanced from the 0.19% level of yesterday to 0.23% today. On the economic front, economic surveys published yesterday showed that overall business conditions in the single currency area seem to be improving with the manufacturing sector enjoying a slight uptick in output and new orders in March as well as expectations for the services sector to reach a three-month high.
  • RS2 Software plc closed higher for the fourth consecutive session as the equity continued to rebound from recent sharp decline with a further 0.7% uplift to the €3.685 level across 9,300 shares.
  • International Hotel Investments plc reversed yesterday’s decline as it regained the €0.665 level (+2.3%) albeit on insignificant volumes.
  • GlobalCapital plc and GO plc also closed higher on negligible amounts. The insurance specialist advanced to the €0.38 level (+5.6%) on 200 shares whilst GO closed at its five-month high of €3.42 (+0.6%) across 350 shares.
  • The equity of Medserv plc was active amid a relatively volatile session. In fact, the equity opened at the €1.652 level (-2.8%) and subsequently slumped to an intra-day low of €1.55 (-8.8%) before recovering to end this morning’s session at the €1.63 level – representing a decline of 4.1% over yesterday’s closing price. A total of 52,810 shares changed hands today with an aggregate value of €84,000 – representing nearly 44% of today’s total value traded. Yesterday, Medserv published its 2015 financial performance which it showed that the Group’s net profit attributable to shareholders surged to €4.12 million compared to €1.94 million in 2014 on the back of increased levels of business activity particularly at the Malta base. The Directors of the Company are not recommending the distribution of any final dividends in view of the Company’s substantial expansion programme.
  • Malta International Airport plc (2,900 shares) and Simonds Farsons Cisk plc (1,167 shares) retreated to the €4.41 (-0.2%) and €6.00 (-0.3%) levels respectively.
  • In the property segment, Malita Investments plc (10,400 shares) and Malta Properties Company plc (22,491 shares) also trended in negative territory. Malita declined by 0.5% to the €0.95 level whilst Malta Properties retreated to the €0.565 level (-0.2%). Yesterday, MPC announced that it has been approached by a third party with proposals for a potential mixed-use development that would incorporate the Company’s St. George’s Exchange site in St Julian’s. The Company’s Board of Directors will make additional announcements as and when necessary.
  • In contrast, two single deals of 25,000 and 11,000 shares left the equities of MIDI plc and Plaza Centres plc unchanged at the €0.36 and €1.045 levels respectively.
  • Similarly, Bank of Valletta plc retained the €2.25 level across 4,366 shares. Yesterday, the Bank announced that it received €36.59 million worth of applications for the recently issued 3.5% €50 million Subordinated Notes 2030. Therefore, all applicantions will be met in full. The new Notes are expected to be admitted to the Official List on 8 April 2016 with trading expected to commence thereafter.

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