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  • The MSE Share Index slumped 0.9% to 4,116.226 points, also as a result of declines in GO, HSBC and IHI. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,126.359 points, as European benchmark yields continued to retreat.
  • GO plc’s share price slipped 10% during today’s session to close at the €3.15 level across 23 deals totalling 41,861 shares. This follows yesterday’s announcement that the company’s majority shareholder, Emirates International Telecommunications (Malta) Limited, had informed the Board of Directors of its intention to sell its 60% stake in GO in the short-term.
  • HSBC Bank Malta plc shed 1.1% to the €1.82 level on activity of 19,400 shares. HSBC will be publishing its interim financial statements on 3 August.
  • The other negative performer today was International Hotel Investments plc, which edged marginally lower to €0.835 on a single deal of 2,500 shares. Last Friday, IHI announced that it received acceptances amounting to 97.20% of the entire share capital of Island Hotels Group Holding plc. IHGH shareholders have up to 31 July 2015 to accept IHI’s offer to acquire their shares for either a mix of shares and cash or a cash-only consideration.
  • On the other hand, four equities closed the day higher. The best performer today Mapfre Middlesea plc with a 5.3% increase to recapture the €1.79 level on activity of 5,500 shares. Yesterday morning, Mapfre Middlesea published its interim financial statements showing an 85.2% increase in pre-tax profits to €15.2 million. Lombard Bank Malta plc edged up 1.5% to a fresh 2015 high of €1.949 on volumes of 29,600 shares.
  • The share price of Medserv plc increased by 0.6% to a new all-time high of €2.37 on a single deal of 2,500 shares, while Bank of Valletta plc managed a 0.2% gain to the €2.275 level on six deals just short of 14,000 shares.
  • Meanwhile, RS2 Software plc closed unchanged at the €2.25 level across three trades for a total of 2,420 shares.
  • Yesterday evening, Mediterranean Investments Holding plc published the allotment policy with respect to its recent €20 million bond issue. The company received applications having a nominal value of €16,359,600 from Maturing Bondholders representing a roll-over rate of 83%. These applications will be met in full. Holders of the Maturing Bonds also applied for an additional amount of €13.61 million. Such applications will be allotted 26.745% rounded to the nearest €100. Given that the bond issue was oversubscribed by holders of the Maturing Bonds, no allocations will be made to applications submitted by holders of other existing MIH bonds (‘B’ applications) and bondholders of Corinthia Finance plc and International Hotel Investments plc (‘C’ applications). The announcement also explained that refunds of unallocated monies will be paid by 27 July 2015 and interest on the new bonds will commence on 31 July 2015. The Bonds are expected to be admitted to the Official List of the Malta Stock Exchange on 31 July with trading expected to commence on Monday 3 August.

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