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  • The MSE Share Index had another positive day as it edged a further 0.66% higher to 4,475.996 points – the highest level since early May 2008 – as trading volumes remained elevated with over €934,000 worth of shares changing hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index retreated slightly (-0.03%) to the 1,147.823 level as the yield of the benchmark 10-year German paper advanced from yesterday’s 0.49% level to 0.51% early this morning. Nonetheless, yields dropped to the 0.47% level later on during the day on speculation that the European Central Bank (ECB) may implement a two-tier penalty charge on banks which leave idle cash deposited with the ECB, as part of its additional expansionary monetary policy measures. Other alternatives that the ECB may consider are the purchasing of regional bonds and rebundled non-performing loans.
  • Preferred applicants under Tranche 1 of Bank of Valletta plc’s Subordinated Debt Issuance Programme have until this Monday 30 November to apply whilst other investors have to submit their application by Wednesday 2 December. The Bank is offering €75 million worth of Notes carrying a coupon of 3.5% and maturing in 2030.
  • Following yesterday’s 81.1% uplift in the share price of Malta Properties Company plc, the recently listed equity registered yet another remarkable gain of 21.7% as it closed today’s session at the €0.73 level on high volumes totalling 618,369 shares.
  • Likewise, the equity of FIMBank plc extended its recent positive trend as it moved higher for the sixth consecutive session with a further 8.9% increase to regain the USD0.599 level for the first time since mid-October 2014 on volumes of 121,184 shares.
  • The share price of Simonds Farsons Cisk plc reached a new all-time high as 16,500 shares were traded at the €6.20 level, representing a 1.6% increase over the previous closing price.
  • Lombard Bank Malta plc and RS2 Software plc also closed the day in positive territory as the equities ended this morning’s session at €2.211 (+1.4%) and €3.01 (+0.2%) levels respectively albeit on shallow volumes.
  • On the other hand, MIDI plc and HSBC Bank Malta plc were the only negative performers of the day. The equity of the property company retreated by 1.4% from its multi-year high of €0.37 back to the €0.365 level across 17,600 shares. Last week, MIDI explained that it is expecting to register a profit for the year as it started delivering apartments from the recently completed Q1 residential block. Furthermore, the Company confirmed that it recently engaged an international consulting firm with the aim of reviewing the design concept of Manoel Island whilst discussions with third parties that have expressed an interest to invest in the project are continuing.
  • The equity of HSBC Bank Malta plc had a relatively volatile session as it failed to hold on to an intra-day high of €1.82 to slip back to an intra-day low of €1.75 before marginally rebounding to end the session at the €1.78 level representing a 0.6% decline across 18,187 shares. Last Thursday, the Bank issued its Interim Directors’ Statement whereby it reported that since publishing its interim financial results to 30 June 2015, it registered a modest decline in profit before tax compared to the same period in 2014. This decline was primarily attributable to higher costs and a lower contribution from the life insurance business.
  • Also in the banking sector, the equity of Bank of Valletta plc closed unchanged at the €2.25 level after touching an intra-day high of €2.29 as healthy volumes (77,377 shares) continue to characterise the trading in the Bank’s shares.
  • Meanwhile, four other equities closed unchanged. In the tourism sector, International Hotel Investments plc and Malta International Airport plc closed at the €0.849 (57,800 shares) and €3.99 (5,980 shares) levels respectively.
  • GO plc and 6PM Holdings plc also closed unchanged at the €3.10 (5,300 shares) and GBP0.68 levels (12,764 shares) respectively.

 

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