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  • The MSE Share Index edged 0.1% higher during this morning’s session to 3,346.113 points following increases in the share prices of RS2 and BOV. Meanwhile HSBC and IHG trended lower whilst IHI’s equity closed unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index moved marginally higher for the second successive session to just below 1,021 points in line with this morning’s dip in Eurozone yields. The benchmark 10-year German Bund yield retreated to the 1.35% level following a surprise drop in Chinese factory activity and the revelation of the US Federal Reserve’s plans to start curbing its asset purchase programme in the coming months. These two events triggered fresh concerns on global growth sending international equity markets into a tailspin. Nonetheless, the 10-year Bund yield has regained the 1.385% level by this afternoon after the German Chamber of Commerce reduced its growth forecast for 2013.
  • The share price of RS2 Software extended its recent positive trend with the third increase during the last four sessions of this week. The IT equity gained a further 1.4% to yet another all-time high of €1.13 across two trades totalling 26,600 shares. The licence sales concluded last year and the commencement of the first managed services contract earlier this year coupled with the prospects of other potential licence sales as well as the interest by a new investor to acquire at least 10% of the company helped the equity climb by 62.4% since the start of 2013.
  • BOV rebounded by 1.1% to regain the €2.235 level on volumes of almost 6,300 shares.
  • Meanwhile, HSBC eased 0.8% to the €2.63 level across two deals totalling 4,900 shares. This afternoon, the Bank announced that it will publish its half-year results on 5 August.
  • In the hotel sector, IHI maintained the €0.875 level on a small deal of 500 shares. IHI held its Annual General Meeting this morning and the Chairman re-iterated the commitment to dispose of the London apartments and distribute a cash dividend to shareholders.
  • Likewise, only 1,000 Island Hotels Group shares transacted today at the €0.59 level representing a 1.5% drop from the previous close.

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