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  • The MSE Share Index advanced by 0.13% to 4,483.564 points as the gains in share prices of BOV and GO outweighed the plunge in MPC. Trading activity was restricted to merely five shares, reflecting in reduced volumes worth just €152,500. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index extended yesterday’s gains by a further 0.15% to a fresh five-week high of 1,151.510 points. Euro zone bond yields trended lower today with the 10-year benchmark German Bund yield slipping from 0.19% to 0.16% today. The 10-year yields of the Italian and Spanish government papers declined to 1.35% and 1.47% from 1.42% and 1.54% respectively.
  • Bank of Valletta plc recovered all the losses of the past two trading sessions as it recaptured the €2.24 (+0.9%) across 16,319 shares. This morning, BOV issued an announcement in relation to certain recent media reports whereby it reiterated its commitment towards having the appropriate anti-money laundering processes in place.
  • GO plc managed to rebound from an intra-day low of €2.77 (-4.0%) to close 0.5% higher at the €2.90 level across shallow volumes totalling 1,800 shares. On Monday, GO stated that La Société Nationale des Télécommunications (“Tunisie Telecom”) were chosen as the final preferred bidder for acquiring the entire company. Tunisie Telecom will be submitting a voluntary bid for the entire issued share capital of GO at a price of €2.87 per share. GO shareholders will now receive an offer document from Tunisie Telecom containing all the details of the voluntary bid in the coming weeks. Consequently, GO also confirmed that the voluntary bid will be subject to a minimum acceptance threshold of 60% of the shares and that Emirates International Telecommunications (Malta) Limited, which owns a 60% stake, has, subject to certain conditions, irrevocably undertaken to accept the voluntary bid.
  • In contrast, Malta Properties Company plc closed at its lowest level this year as the equity dropped by 7.3% to the €0.51 level across 15,000 shares. MPC will be holding its AGM on 2 June.
  • Within the same segment, Tigne’ Mall plc maintained the €1.06 level across heightened activity totalling 80,000 shares. Shareholders as at 22 June will be eligible to receive a final net dividend of €0.0125 per share. This is payable on 12 July subject to shareholders’ approval at the upcoming AGM scheduled to be held on 24 June 2016.
  • Likewise, HSBC Bank Malta plc closed flat at the €1.62 level across 11,558 shares. The Directors of the Bank will be meeting on 5 August to consider and approve the interim financial statements for the half-year ending 30 June 2016 as well as consider the declaration of an interim dividend.

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