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  • The negative price movements of the large caps BOV and HSBC sent the MSE Share Index down 0.4% to 3,290.371 points. This was the last trading session before the Christmas shutdown and the Malta stock exchange will reopen on Monday 29 December. Download a copy of today’s Equity Market Summary.
  • Meanwhile, on the bond market, the RF MGS Index was marginally lower today at 1,102.427 points as bond yields across the eurozone region maintained the 0.59% level in view of the prevailing economic challenges.
  • Bank of Valletta plc ended this morning’s session in negative territory, slipping 0.7% to the €2.20 level on 14 deals for a total of 24,871 shares. Shareholders as at close of trading on 14 January 2015 are entitled to receive the 1 for 11 bonus share issue which was approved last week during BOV’s Annual General Meeting.
  • Similarly, HSBC Bank Malta plc declined to the €1.95 level, failing to hold on to an intra-day high of €1.975. The Bank’s equity plunged 1.3% on shallow volumes of 3,132 shares.
  • The other active equity that traded in negative territory was Grand Harbour Marina plc, which ended the session marginally lower at the €1.865 level on a single deal of 8,800 shares.
  • Meanwhile, GO plc ended the session unchanged at €2.55, rebounding from an intra-day low of €2.52. A total of 8,820 shares changed hands across five deals. The market has been lately reacting to the announcements made in the Greek press last week, whereby Vodafone and Wind Hellas (which together own almost 40% of Forthnet) are set to launch a binding bid for the remaining shares in Forthnet SA after the Christmas holidays. Meanwhile, the Greek incumbent OTE is not expected to lodge its bid for Nova (the pay-TV arm of Forthnet) before January, in order to see what political course the country will take after the presidential elections are concluded. On 17 July, Forthnet S.A. had announced that Vodafone and Wind Hellas Telecommunications S.A. submitted a joint non-binding indicative proposal to the Board of Directors of Forthnet, for the possible acquisition of all the shares of Forthnet which are not owned by them at a range of €1.70 and €1.90 per Forthnet share.
  • A single trade of 3,957 shares in Island Hotels Group Holdings plc changed hands earlier on this morning, leaving the price of the hotel operator unchanged at the €0.85 level.
  • The other two active equities ended the session in positive territory. Medserv plc gained 1.1% and closed at a new 2014 high of €1.45 across 11,500 shares. Similarly, the price of Tigne Mall plc advanced 2.6% to a fresh high of €0.60 on a single trade of 8,000 shares.

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