• The share prices of RS2 Software plc and GO plc continued to advance today helping the MSE Share Index add a further 0.1% to 4,096.937 points. Trading activity remained robust across the equity market with weekly volumes surpassing the €2 million level for the first time in 10 weeks. The Malta Stock Exchange is closed on Monday 29 June and will re-open on Tuesday 30 June. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 1,122.074 points reflecting the slight decline in yields across Italy and Spain while German bund yields were marginally unchanged. EU leaders have now postponed final talks to tomorrow in order to try reach an agreement with Greece after yesterday’s talks once again failed to produce a resolution.
  • RS2 Software plc gained a further 1% to close at a new record level of €1.969 after briefly touching a new high of €1.97. Activity remained high with a further 37,450 shares changing hands today.
  • Likewise, the share price of GO plc rose by 0.4% to a new 8-year high of €3.425 across 18,240 shares. GO will be holding an Extraordinary General Meeting (EGM) on 22 July during which shareholders will be asked to approve a number of resolutions related to the proposed spin-off of the property subsidiary.
  • The other positive performers of the day were Bank of Valletta plc and Tigne Mall plc. The share price of Bank of Valletta plc continued to trade within a tight range and closed 0.3% higher at €2.298 after touching the €2.30 level. Volumes were weaker at 15,953 shares. On the other hand, Tigne Mall plc closed up 1.2% at a new record level of €0.86 across 19,500 shares.
  • Among the negative performers, the share price of International Hotel Investments plc dropped for the fifth consecutive session with a decline of a further 0.5% to €0.876 on higher activity amounting to 113,750 shares. Yesterday evening, IHI announced that all conditions related to the agreement for the acquisition of Island Hotels Group Holdings plc (IHG) have been met and it will shortly be proceeding with a conditional voluntary offer in respect of all the issued shares in IHG. The shareholders of IHG will be offered the option to choose between a combined consideration of €1 per share in cash and 0.246 IHI shares for each IHG share or a cash alternative comprising a consideration of €1.137 per IHG share.
  • The only other negative performer of the day was HSBC Bank Malta plc as it dropped back to the €1.80 level across 22,496 shares.
  • Simonds Farsons Cisk plc held on to yesterday’s 11.1% rally as a further 1,669 shares changed hands at the all-time high of €4.50. During yesterday’s Annual General Meeting shareholders were presented with an overview of the proposed Farsons Business Park project. The property spin-off is expected to take place in July 2017.
  • Three other equities closed unchanged, namely Medserv plc (8,000 shares at €2.355), Malita Investments plc (5,000 shares at €0.89) and Mapfre Middlesea plc (3,500 shares at €1.825).

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