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  • The MSE Share Index extended yesterday’s gains as it advanced by a further 0.03% to a new near nine-year high of 4,721.355 points. The gains registered in the equities of GO (+0.6%), MIA (+0.5%) and BOV (+0.2%) minimally outweighed the declines suffered by Malta Properties (-1.9%), RS2 (-1.1%) and Malita Investments (-0.9%). Meanwhile, five equities closed the day unchanged. Trading volumes in the local equity market remained robust as nearly €0.46 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • Following the sharpest drop in nearly three weeks of 0.42% yesterday, the RF MGS Index continued to suffer heavy losses today as it slumped by a further 0.50% to 1,124.581 points – the lowest since mid-September 2015. The opening indicative bid prices of the Central Bank of Malta for the two most recently issued longer-dated Malta Government Stocks (MGS) – i.e. the 2.4% MGS 2041 issued on August 2016 at 101.75% and the 2.1% MGS 2039 issued on October 2016 at 102.50% – fell to a record low of 99.67% and 96.60% respectively. Euro zone sovereign yields advanced considerably following comments made by European Central Bank (ECB) Executive Board Member Ms Sabine Lautenschläger who was reported as saying that “all preconditions for a stable rise in inflation exist” in the single currency area. She also stated that she was “optimistic that we can soon turn to the question of an exit” from the ECB’s ultra-loose monetary policy. The 10-year benchmark German Bund yield surged above the 0.50% mark – the highest since 22 January 2016 – from 0.451% yesterday before retreating following contrasting comments made by ECB Governing Council Member Mr Francois Villeroy de Galhau who claimed that “although quantitative easing will obviously not last forever, we clearly did not discuss tapering or any exit strategy”.
  • Six deals totalling 8,542 shares pushed the equity of GO plc to €3.40 (+0.6%) – the highest level in the past eight months.
  • Also among the large companies, Malta International Airport plc recaptured the €4.07 level (+0.5%) on trivial volumes whilst Bank of Valletta plc moved 0.2% higher to the €2.184 level across 45,009 shares. MIA is due to publish its 2016 financial results on 22 February 2017. The Board of Directors will also consider the declaration of a final dividend.
  • In contrast, RS2 Software plc slipped by 1.1% to the €1.78 level on volumes totalling 47,005 shares. Last Friday, the Company revealed that it has concluded three major agreements for its managed services arm – RS2 Smart Processing Ltd. The announcement noted that the benefits of these agreements will materialize in the latter part of 2017.
  • In the property segment, Malta Properties Company plc lost 1.9% to a fresh four-month low of €0.53 across 26,975 shares whilst Malita Investments plc eased back to the €0.85 level (-0.9%) on a single deal of 10,000 shares.
  • Meanwhile, MIDI plc maintained the €0.33 level across 45,000 shares.
  • Four other equities closed flat today. Of these, the most actively traded was HSBC Bank Malta plc which held on to the €2.00 level after touching a near three-year high of €2.01. A total of 47,234 shares changed hands. The Bank is expected to reveal its 2016 annual results on 21 February. The Directors will also consider the declaration of a final dividend to be recommended during the Annual General Meeting to be held on 13 April 2017.
  • Two deals totalling 10,000 shares left the equity of Medserv plc unchanged at €1.60.
  • MaltaPost plc (31,977 shares) and Simonds Farsons Cisk plc (4,370 shares) maintained their all-time highs of €2.05 and €7.30 respectively.

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